Quantitative And Empirical Analysis Of Energy Markets

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Publisher : World Scientific
ISBN 13 : 981447617X
Total Pages : 304 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis Quantitative And Empirical Analysis Of Energy Markets by : Apostolos Serletis

Download or read book Quantitative And Empirical Analysis Of Energy Markets written by Apostolos Serletis and published by World Scientific. This book was released on 2007-04-27 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bringing together leading-edge research and innovative energy markets econometrics, this book collects the author's most important recent contributions in energy economics. In particular, the book:• applies recent advances in the field of applied econometrics to investigate a number of issues regarding energy markets, including the theory of storage and the efficient markets hypothesis• presents the basic stylized facts on energy price movements using correlation analysis, causality tests, integration theory, cointegration theory, as well as recently developed procedures for testing for shared and codependent cycles• uses recent advances in the financial econometrics literature to model time-varying returns and volatility in energy prices and to test for causal relationships between energy prices and their volatilities• explores the functioning of electricity markets and applies conventional models of time series analysis to investigate a number of issues regarding wholesale power prices in the western North American markets• applies tools from statistics and dynamical systems theory to test for nonlinear dynamics and deterministic chaos in a number of North American hydrocarbon markets (those of ethane, propane, normal butane, iso-butane, naptha, crude oil, and natural gas)

Vertical Market Power in Interconnected Natural Gas and Electricity Markets

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Author :
Publisher :
ISBN 13 :
Total Pages : 77 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Vertical Market Power in Interconnected Natural Gas and Electricity Markets by : Levi Marks

Download or read book Vertical Market Power in Interconnected Natural Gas and Electricity Markets written by Levi Marks and published by . This book was released on 2017 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: New England is at the leading edge of an energy transition in which natural gas is playing an increasingly important role in the US electricity generation mix. In recent years, the region's wholesale natural gas and electricity markets have experienced severe, simultaneous price spikes. While frequently attributed to limited pipeline capacity serving the region, we demonstrate that such price spikes have been exacerbated by some gas distribution firms scheduling deliveries without actually owing gas. This behavior blocks other firms from utilizing pipeline capacity, which artificially limits gas supply to the region and drives up gas and electricity prices. The firms observed to withhold pipeline capacity also own non-gas electricity generation assets in New England that benefit from their gas-fired competitors paying higher fuel input costs. We estimate that capacity withholding increased average gas and electricity prices by 38% and 20%, respectively, over the three-year period we study. As a result, customers paid $3.6 billion more for electricity. While the studied behavior may have been within the firms' contractual rights, the significant impacts in both the gas and electricity markets show the need to consider improvements to market design and regulation as these two energy markets become increasingly interlinked.

Handbook on Electricity Markets

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Author :
Publisher : Edward Elgar Publishing
ISBN 13 : 1788979958
Total Pages : 672 pages
Book Rating : 4.7/5 (889 download)

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Book Synopsis Handbook on Electricity Markets by : Glachant, Jean-Michel

Download or read book Handbook on Electricity Markets written by Glachant, Jean-Michel and published by Edward Elgar Publishing. This book was released on 2021-11-12 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: With twenty-two chapters written by leading international experts, this volume represents the most detailed and comprehensive Handbook on electricity markets ever published.

Electricity Markets

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Author :
Publisher : Springer Nature
ISBN 13 : 303036979X
Total Pages : 274 pages
Book Rating : 4.0/5 (33 download)

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Book Synopsis Electricity Markets by : Sayyad Nojavan

Download or read book Electricity Markets written by Sayyad Nojavan and published by Springer Nature. This book was released on 2020-03-10 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyzes new electricity pricing models that consider uncertainties in the power market due to the changing behavior of market players and the implementation of renewable distributed generation and responsive loads. In-depth chapters examine the different types of market players including the generation, transmission, and distribution companies, virtual power plants, demand response aggregators, and energy hubs and microgrids. Expert authors propose optimal operational models for short-term performance and scheduling and present readers with solutions for pricing challenges in uncertain environments. This book is useful for engineers, researchers and students involved in integrating demand response programs into smart grids and for electricity market operation and planning. Proposes optimal operation models; Discusses the various players in today's electricity markets; Describes the effects of demand response programs in smart grids.

Energy Security and Natural Gas Markets in Europe

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Author :
Publisher : Routledge
ISBN 13 : 1317636643
Total Pages : 212 pages
Book Rating : 4.3/5 (176 download)

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Book Synopsis Energy Security and Natural Gas Markets in Europe by : Tim Boersma

Download or read book Energy Security and Natural Gas Markets in Europe written by Tim Boersma and published by Routledge. This book was released on 2015-08-27 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Moving beyond most conventional thinking about energy security in Europe which revolves around stability of supplies and the reliability of suppliers, this book presents the history of European policy-making regarding energy resources, including recent controversies about shale gas and fracking. Using the United States as a benchmark, the author tests the hypothesis that EU energy security is at risk primarily because of a lack of market integration and cooperation between member states. This lack of integration still prohibits natural gas to flow freely throughout the continent, which makes parts of Europe vulnerable in case of supply disruptions. The book demonstrates that the EU gas market has been developing at different speeds, leaving the Northwest of the continent reasonably well integrated, with sufficient trade and liquidity and different supplies, whereas other parts are less developed. In these parts of Europe there is a structural lack of investments in infrastructure, interconnectors, reverse flow options and storage facilities. Thus, even though substantial progress has been made in parts of the EU, single source dependency often prevails, leaving the relevant member states vulnerable to market power abuse. Detailed comparisons are made of the situations in the Netherlands and Poland, and of energy policy in the USA. The book dismantles some of the existing assumptions about the concept of energy security, and touches upon the level of rhetoric that features in most energy security and policy debates in Europe.

Markets for Power

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Author :
Publisher : MIT Press (MA)
ISBN 13 : 9780262600187
Total Pages : 269 pages
Book Rating : 4.6/5 (1 download)

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Book Synopsis Markets for Power by : Paul L. Joskow

Download or read book Markets for Power written by Paul L. Joskow and published by MIT Press (MA). This book was released on 1988-08-01 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely study evaluates four generic proposals for allowing free market forces toreplace government regulation in the electric power industry and concludes that none of thederegulation alternatives considered represents a panacea for the performance failures associatedwith things as they are now. It proposes a balanced program of regulatory reform and deregulationthat promises to improve industry performance in the short run, resolve uncertainties about thecosts and benefits of deregulation, and positions the industry for more extensive deregulation inthe long run should interim experimentation with deregulation, structural, and regulatory reformsmake it desirable.The book integrates modern microeconomic theory with a comprehensive analysis ofthe economic, technical, and institutional characteristics of modern electrical power systems. Itemphasizes that casual analogies to successful deregulation efforts in other sectors of the economyare an inadequate and potentially misleading basis for public policy in the electric power industry,which has economic and technical characteristics that are quite different from those in otherderegulated industries.Paul L. Joskow is Professor of Economics at MIT, author of ControllingHospital Costs (MIT Press 1981) and coauthor with Martin L. Baughman and Dilip P. Kamat of ElectricPower in the United States (MIT Press 1979). Richard Schmalensee, also at MIT, is Professor ofApplied Economics, author of The Economics of Advertising and The Control of Natural Monopolies, andeditor of The MIT Press Series, Regulation of Economic Activity.

Electricity Market Reform

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Author :
Publisher : Elsevier
ISBN 13 : 0080462715
Total Pages : 687 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis Electricity Market Reform by : Fereidoon Sioshansi

Download or read book Electricity Market Reform written by Fereidoon Sioshansi and published by Elsevier. This book was released on 2006-04-13 with total page 687 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the late 1980s, policy makers and regulators in a number of countries have liberalized, restructured or “deregulated their electric power sector, typically by introducing competition at the generation and retail level. These experiments have resulted in vastly different outcomes - some highly encouraging, others utterly disastrous. However, many countries continue along the same path for a variety of reasons. Electricity Market Reform examines the most important competitive electricity markets around the world and provides definitive answers as to why some markets have performed admirably, while others have utterly failed, often with dire financial and cost consequences. The lessons contained within are direct relevance to regulators, policy makers, the investment community, industry, academics and graduate students of electricity markets worldwide. Covers electicity market liberalization and deregulation on a worldwide scale Features expert contributions from key people within the electricity sector

Evolution of Global Electricity Markets

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Author :
Publisher : Academic Press
ISBN 13 : 0123979064
Total Pages : 867 pages
Book Rating : 4.1/5 (239 download)

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Book Synopsis Evolution of Global Electricity Markets by : Fereidoon Sioshansi

Download or read book Evolution of Global Electricity Markets written by Fereidoon Sioshansi and published by Academic Press. This book was released on 2013-06-10 with total page 867 pages. Available in PDF, EPUB and Kindle. Book excerpt: Get the latest on rapidly evolving global electricity markets direct from the scholars andthought leaders who are shaping reform. In this volume, dozens of world-class expertsfrom diverse regions provide a comprehensive assessment of the relevant issues intoday’s electricity markets. Amid a seething backdrop of rising energy prices, concerns about environmentaldegradation, and the introduction of distributed sources and smart grids, increasinglystringent demands are being placed on the electric power sector to provide a morereliable, efficient delivery infrastructure, and more rational, cost-reflective prices. Thisbook maps out the electric industry’s new paradigms, challenges and approaches,providing invaluable global perspective on this host of new and pressing issues beinginvestigated by research institutions worldwide. Companies engaged in the powersector’s extensive value chain including utilities, generation, transmission & distributioncompanies, retailers, suppliers, regulators, market designers, and the investment &financial rating community will benefit from gaining a more nuanced understanding ofthe impacts of key market design and restructuring choices. How can problems beavoided? Why do some restructured markets appear to function better than others?Which technological implementations represent the best investments? Whichregulatory mechanisms will best support these new technologies? What lessons canbe learned from experiences in Norway, Australia, Texas, or the U.K.? Thesequestions and many more are undertaken by the brightest minds in the industry in thisone comprehensive, cutting-edge resource. Features a unique global perspective from more than 40 recognized experts and scholars around the world, offering opportunities to compare and contrast a wide range of market structures Analyzes how the implementation of existing and developing market designs impacts real-world issues such as pricing and reliability Explains the latest thinking on timely issues such as current market reform proposals, restructuring, liberalization, privatization, capacity and energy markets, distributed and renewable energy integration, competitive generation and retail markets, and disaggregated vs. vertically integrated systems

Building Competitive Gas Markets in the EU

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Author :
Publisher : Edward Elgar Publishing
ISBN 13 : 1782540644
Total Pages : 293 pages
Book Rating : 4.7/5 (825 download)

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Book Synopsis Building Competitive Gas Markets in the EU by : Jean-Michel Glachant

Download or read book Building Competitive Gas Markets in the EU written by Jean-Michel Glachant and published by Edward Elgar Publishing. This book was released on 2013-01-01 with total page 293 pages. Available in PDF, EPUB and Kindle. Book excerpt: This highly unique book focuses on market design issues common to most EU gas markets, particularly in the context of closer integration. It explores in detail the characteristics and requirements of national gas markets in Europe, which are constructed as virtual hubs based on entry/exit schemes as a requirement of European law. The expert contributors analyse gas supply and demand patterns in the EU, showing that both have changed following the introduction of liquefied natural gas on the supply side and the growth of gas-fired power plants on the demand side. The repeated interactions between the transmission operators activity and the gas commodity markets are addressed, as is the design of commercial networks in EU markets. The contributors also question whether the relationship between commercial and physical networks, in terms of the new flexibility requirements of users, actually works. By way of conclusion, two proposals for the EU gas target model are presented, both of which tackle the fundamental issues raised in this book, as well as the organization of short-term transactions and the mechanisms for investment in vital new long-life infrastructure needed to integrate EU markets. This volume will be of great interest to practitioners, as well as academics, researchers and students in the fields of energy economics and industrial economics. Both European and non-European energy companies and regulatory authorities looking for an independent and analytical overview of European gas markets will also find this book to be a highly valuable resource.

Financial Condition of the Electricity Market

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Publisher :
ISBN 13 :
Total Pages : 80 pages
Book Rating : 4.0/5 (1 download)

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Book Synopsis Financial Condition of the Electricity Market by : United States. Congress. Senate. Committee on Energy and Natural Resources

Download or read book Financial Condition of the Electricity Market written by United States. Congress. Senate. Committee on Energy and Natural Resources and published by . This book was released on 2003 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Natural Gas and Electricity

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Publisher :
ISBN 13 : 9781624177125
Total Pages : 0 pages
Book Rating : 4.1/5 (771 download)

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Book Synopsis Natural Gas and Electricity by : Lee Huang

Download or read book Natural Gas and Electricity written by Lee Huang and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural gas is the second largest primary source of energy consumed in the United States, exceeded only by petroleum. A primary energy source is an energy source that can be consumed directly or converted into something else, like electricity. Roughly a third of the natural gas consumed in the United States goes into power plants for the production of electricity. Electricity, a secondary energy source, results from the conversion of primary fuels such as fossil fuels, uranium or wind, into a flow of electrons used to power modern life. This book explores the workings of the wholesale markets for these two forms of energy, as well as energy-related financial markets.

Natural Gas and Electricity Markets

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Author :
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781719585613
Total Pages : 32 pages
Book Rating : 4.5/5 (856 download)

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Book Synopsis Natural Gas and Electricity Markets by : United States Accounting Office (GAO)

Download or read book Natural Gas and Electricity Markets written by United States Accounting Office (GAO) and published by Createspace Independent Publishing Platform. This book was released on 2018-05-29 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural Gas and Electricity Markets: Federal Government Actions to Improve Private Price Indices and Stakeholder Reaction

Natural Gas and Electricity Markets

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Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (19 download)

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Book Synopsis Natural Gas and Electricity Markets by : United States. Government Accountability Office

Download or read book Natural Gas and Electricity Markets written by United States. Government Accountability Office and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Economics of Electricity

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Author :
Publisher : Cambridge University Press
ISBN 13 : 1107185653
Total Pages : 369 pages
Book Rating : 4.1/5 (71 download)

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Book Synopsis Economics of Electricity by : Anna Cretì

Download or read book Economics of Electricity written by Anna Cretì and published by Cambridge University Press. This book was released on 2019-05-30 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains the economics of electricity at each step of the supply chain: production, transportation and distribution, and retail.

Natural gas and electricity markets

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Author :
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Natural gas and electricity markets by :

Download or read book Natural gas and electricity markets written by and published by . This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The emergence of markets in the North American natural gas industry in the mid-1980s resulted largely from the fail- ure of regulation, and a consequence of this regulatory failure was the separa- tion of the energy commodity from its transportation. [...] The slow collapse of the industry and the potential for very serious gas shortages forced Congress to increase the industry's reliance on markets and diminish the scope and harm of regulation. [...] In this context, the state is the central coordinator and planner and the regulated monopoly is its agent; the hybrid organization combining state and monopoly is thought to provide the optimal span of control to solve the coordination problem and the right size of the pro- duction unit to realize economies of scale. [...] As to the superior foresight of regulators, one need only point to the chaos and crises that drove the move to deregulate well-head prices and which is moving through every segment of the industry from the well head to users. [...] In the US the unbundling of gas transportation from the commodity com- pletely changed the way the industry works.

Regulation of Energy Markets

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Author :
Publisher : Springer Nature
ISBN 13 : 3030583198
Total Pages : 361 pages
Book Rating : 4.0/5 (35 download)

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Book Synopsis Regulation of Energy Markets by : Machiel Mulder

Download or read book Regulation of Energy Markets written by Machiel Mulder and published by Springer Nature. This book was released on 2020-10-16 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook explains the main economic mechanisms behind energy markets and assesses how governments can implement policies to improve how these markets function. Adopting a micro-economic perspective, the book systematically analyses the various types of market failures on the electricity and gas markets as well as coal, oil, hydrogen and heat markets to identify government policies that can improve welfare. These shortcomings include the natural monopoly and the public-good character of energy infrastructures; market power resulting from inflexibility of supply and demand; international trade restrictions; negative externalities concerning the use of fossil energy; positive externalities concerning innovative new energy technologies; information asymmetries with regard to the product characteristics of energy commodities; and other public concerns, such as energy poverty. In turn, readers will learn about various measures that governments can use to address these market failures, including incentive regulation for electricity grids; international integration of wholesale energy markets; environmental regulatory measures like emissions trading schemes; subsidy schemes for new technologies; green-energy certificate schemes; and energy taxes. Given its scope, the book will appeal to upper-undergraduate and graduate students from various disciplines who want to learn more about the economics and regulation of energy systems and markets.

Modern Energy Market Manipulation

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Publisher : Emerald Group Publishing
ISBN 13 : 1787433854
Total Pages : 240 pages
Book Rating : 4.7/5 (874 download)

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Book Synopsis Modern Energy Market Manipulation by : Andrew N. Kleit

Download or read book Modern Energy Market Manipulation written by Andrew N. Kleit and published by Emerald Group Publishing. This book was released on 2018-11-15 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the important economic and legal questions of market manipulation that have arisen in restructured energy markets, paying particular attention to the actions of the Federal Energy Regulatory Commission.