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Displaying results 1 to 4 of 4.

  1. Transparency in electricity markets
    Author: Fehr, Nils-Henrik M. von der
    Published: 2013
    Publisher:  Dep. of Economics, Univ. of Oslo, Oslo

    The European Commission is introducing new regulations on submission and publication of data in electricity markets (SPDEM) and on wholesale energy market integrity and transparency (REMIT). I discuss issues relevant for undertaking an evaluation... more

    Location:
    Niedersächsische Staats- und Universitätsbibliothek Göttingen
    Inter-library loan:
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 140 (2013,13)
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    The European Commission is introducing new regulations on submission and publication of data in electricity markets (SPDEM) and on wholesale energy market integrity and transparency (REMIT). I discuss issues relevant for undertaking an evaluation such regulations. I argue that, for market performance, more information is not always better; indeed, more information may undermine market performance by facilitating behaviour that is either not cost efficient or aims at exercising market power or establishing and maintaining collusion. Moreover, ensuring rational economic behaviour and an efficient and competitive market outcome does not require general access to information at a very detailed level or with a high degree of immediacy. I conclude that to achieve the aims of efficiently functioning wholesale electricity markets, fair and non-discriminatory access to data and a coherent and consistent view of the European wholesale electricity market, it does not seem advisable to go quite so far with respect to immediacy and detail as intended by the new regulations. -- electricity ; market performance ; information ; transparency ; regulation

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/90714
    Series: Memorandum / Department of Economics, University of Oslo ; 13/2013
    Subjects: electricity; market performance; information; transparency; regulation
    Scope: Online-Ressource (30 S.)
  2. Innovation in the energy sector
    Author: Friesenbichler, Klaus
    Published: 2013
    Publisher:  WWWforEurope, Vienna

    This study analyses the diffusion of renewable energy (RE) technologies. It analyses the transition dynamics as the sector broadens its energy mix and changes its capital stock. This shift is found to be desirable from an environmental, geopolitical... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 528 (31)
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    This study analyses the diffusion of renewable energy (RE) technologies. It analyses the transition dynamics as the sector broadens its energy mix and changes its capital stock. This shift is found to be desirable from an environmental, geopolitical and economic perspective. Yet, it greatly increases the technical and industrial complexity, and is not Pareto-efficient. We focus on wind and solar power, and discuss their promoted deployment against the energy policy principles of the EU. Put drastically, the promotion of "sustainability" undermined "competitive" mechanisms. This has potentially adverse effects on the "security of supply" due to the market design that seeks to keep prices low. RE outperforms conventional facilities. Emergency capacities, however, are also exiting, especially in Germany. If markets are seen as one, there seems to be a threshold of wind and solar power that the current back-up system can incorporate without risking the security of supply. The policy relevant crux lies in conflicting mechanisms: the top-down promotion and planning policies undermine the bottom-up market selection. Then again, without interventions the market does not provide the socially desired outcomes. If tensions aggravate further, the implementation of the new technology base is likely to stall. In addition, the generous promotion resulted in the fast deployment of RE, which may have shortened the "formative phase" of the diffusion process. A longer formative phase would have created more learning effects and fostered more incremental innovations. In addition, costs of subsidies are allocated differently across countries. Mechanisms that allocate costs to the public budget have greater acceptance rates than budget neutral ones that assign costs to consumers. The latter affect households asymmetrically across income classes. Also ownership structures changed; a large number of actors now constitute the energy sector. Citizens increasingly appeared as producers and investors, which stimulated the social acceptance of RE, and in some cases unlocked initially unfavourable vested interests.

     
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  3. An empirical analysis of liquidity and its determinants in the German intraday market for electricity
    Author: Hagemann, Simon; Weber, Christoph
    Published: 2013
    Publisher:  University of Duisburg-Essen, Chair for Management Science and Energy Economics, Essen

    This paper presents a theoretical and empirical analysis of liquidity in the German intraday market for electricity. Two models that aim at explaining intraday liquidity are developed. The first model considers the fundamental merit-order and... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 481 (17/13)
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    This paper presents a theoretical and empirical analysis of liquidity in the German intraday market for electricity. Two models that aim at explaining intraday liquidity are developed. The first model considers the fundamental merit-order and intraday adjustment needs as the drivers of liquidity in a perfectly competitive market. The second model relaxes the assumption of perfect competition in the intraday market and assumes that the trading behavior of profit maximizing market participants influences the liquidity provision. The relevance of commonly used liquidity indicators like the bid ask-spread, resiliency, market depth, price variance, delay and search costs as well as trading volume and the number of trades are analyzed with respect to both models of liquidity. The empirical findings indicate that liquidity in the German intraday market can be explained by the trading model while the purely fundamental model is rejected.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/103296
    Series: EWL Working Paper ; 17/13
    Subjects: Intraday market; electricity; liquidity; fundamental model; trading model
    Scope: Online-Ressource (II, 33 S.), graph. Darst.
  4. Public-private entanglement
    entrepreneurship in a hybrid political order, the case of Lebanon
    Author: Stel, Nora; Naudé, Wim
    Published: 2013
    Publisher:  IZA, Bonn

    The instability and informality that characterize hybrid political orders and its effects on entrepreneurs remains largely unexplored in the scholarly literatures. In this paper we provide initial findings from the case of entrepreneurs' access to... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 4 (7795)
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    The instability and informality that characterize hybrid political orders and its effects on entrepreneurs remains largely unexplored in the scholarly literatures. In this paper we provide initial findings from the case of entrepreneurs' access to electricity in Lebanon. Using quantitative and qualitative methods we find that political connections significantly influence the investment decisions of entrepreneurs and the performance of their firms. In general, a hybrid political order imposes a 'tax' on entrepreneurship by channelling entrepreneurial talent into lobbying and bribery; by reinforcing male and family-owned dominance in business; and by skewing investment decisions. Specifically, we find that family firms whose entrepreneurs engage in bribery, and who obtain government contracts alleviate electricity problems and perform better.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/90118
    Series: Discussion paper series / Forschungsinstitut zur Zukunft der Arbeit ; 7795
    Subjects: Politisches System; Patronage; Korruption; Elektrizitätsversorgung; Strompreis; Investitionsentscheidung; Unternehmenserfolg; Entwicklung; Libanon; entrepreneurship; development; political economy; electricity; infrastructure; Middle East; Lebanon; hybrid political order
    Scope: Online-Ressource (31 S.), graph. Darst.