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This book consists of a collection of articles describing the emergingand integrated area of Energy,Natural Resourcesand EnvironmentalEconomics.A majority of the authors are researchers doing applied work in economics, nance, and management science and are based in the Nordic countries. These countries have a long tradition of managing natural resources. Many of the applications are therefore founded on such examples. The book contents are based on a workshop that took place during May 15–16, 2008 in Bergen, Norway. The aim of the workshop was to create a meeting place for researchers who are active in the area of Energy, Natural Resource, and En- ronmentalEconomics,andat the same time celebrate ProfessorKurtJorns ̈ ten’s60th birthday. Thebookis dividedintofourparts. The rst part considerspetroleumandnatural gas applications, taking up topics ranging from the management of incomes and reserves to market modeling and value chain optimization. The second and most extensive part studies applications from electricity markets, including analyses of market prices, risk management, various optimization problems, electricity market design, and regulation. The third part describes different applications in logistics and management of natural resources. Finally, the fourth part covers more general problems and methods arising within the area.
This book is written as a textbook for students of engineering at the Norwegian University of Science and Technology (NTNU). It is designed for the Power Markets course which is part of the Energy and environment masters programme and the recently established international MSc programme in Electric Power Engineering. As the title indicates, it deals with both power system economics in general and the practical implementation and experience from the Nordic market. Some of the subjects covered: Restructuring/deregulation of the power supply system; Grid access including tariffs and congestion management; Generation planning; Market modelling; Ancillary services; Regulation of grid monopolies. Although it is written primarily as a textbook for students, readers outside the universities may also find the book interesting. It deals with problems that have been subject of considerable attention in the power sector for some years and it addresses issues that are still relevant and important.
With twenty-two chapters written by leading international experts, this volume represents the most detailed and comprehensive Handbook on electricity markets ever published.
Environmental values and concerns are meant to be reflected through environmental policy, which is then integrated into mainstream economic and social policy that serves to govern society and the economy in different sectors. Yet effective environmental policy integration has proved to be very difficult in practice and it remains largely an elusive aspiration. This groundbreaking volume presents the first ever detailed examination of EPI at the national policy level, focusing on the key sectors of energy and agriculture within Sweden, a country that is widely recognized as a front runner in environmental management. The authors deconstruct EPI, look at what it means in policy formation and examine how environmental priorities are treated in relation to other political priorities. The final section of the book lays out the major findings and presents key lessons for international application, including institutional recommendations on how to enhance the potential for EPI. Most fundamentally, the book answers the questions of what works for EPI, why it works, and how it can be achieved in practice across sectors. The result is a rich and indispensable guide for all those involved in environmental and sustainable development policy issues.
This book sets the questions of energy and the environment in the North in the global context and further addresses historical developments, views on energy taxation and tariffs, and effects of EU energy policy. Climate change appears more frequently than ever on the top of global and national policy agendas. In the current situation traditional environmental concern and environmental policy may not suffice in the face of the global challenge as manifested by climate change and the depletion of fossil energy resources. But as new data comes to light, new energy policies and changes in economic structures are crucial for putting into action global climate policy. Crucial tasks in environmental policy are the sustainable utilisation of natural resources and the conservation of natural and human-made habitats. One of the areas of the world where this comes into play the most is in the Nordic countries. Northern societies are predominantly high tech, high consumption and high energy supply societies. And with the transition from older energy sources (wood for heating and stream water for power production) to newer ones (oil and nuclear energy) discussions on the environmental impact have led to public and corporate action. The Northern countries have been at the forefront in finding sustainable alternatives to solve conflicts arising from the rise in energy needs. However, these countries have taken different pathways with different policies in attempting to achieve this. As the needs and concerns from climate change arise, a Northern dimension, involving policies that contrast to European and global trends, emerges. Energy, Policy, and the Environment: Modeling Sustainable Development for the North explores that dimension.
This book aims to describe the mechanisms of the internal wholesale electricity market in terms of the legal tools and practices used by electricity producers, the most important market participants. In this regard, the focus is on Northwestern Europe. Because of the book’s functional perspective, it is not limited to the external regulation of electricity markets at the EU level and also describes the business models and practices employed by electricity producers. Both the physical and financial marketplaces are examined and topics including electricity supply, balancing, transmission and derivatives are covered. The target for the completion of the EU’s internal electricity market was 2014. The internal wholesale electricity market is very important not only for electricity producers, suppliers and major end consumers but also for network operators, marketplace operators, electricity technology firms, investment firms and market regulators.
Many states – including European Union (EU) Member States – subsidise energy producers in order to guarantee the uninterrupted availability of affordable electricity. This book presents the first in-depth examination of how these so-called capacity mechanisms are addressed in EU law and how they affect the functioning of the EU energy markets. Focusing on the existing legal framework as well as the new provisions of the Clean Energy for All Europeans package for capacity mechanisms, the author addresses and analyses such aspects as the following: the structure and functioning of the EU electricity markets; EU’s competence to address security of supply and Member States’ margin of discretion; sector-specific rules for security of supply; legal conditions for subsidising generation adequacy; capacity remuneration under the EU State aid regime; free movement rules that address generation adequacy measures; balancing different interests of EU energy law in the context of generation adequacy; and the requirement of proportionality in State intervention to ensure generation adequacy. The analysis draws on relevant sources of EU law (treaties, regulations and directives) as well as the case law of the European Court of Justice and the General Court, together with soft law instruments such as Commission guidelines. Scholarly sources include not only legal literature but also work on energy policy, energy engineering and energy economics. As a detailed analysis of how capacity mechanisms address issues arising in the context of the enegy transition – and how the system of EU law applicable to capacity mechanisms should be interpreted to further the objectives of EU energy law – the book will help policymakers and legislators in Member States to understand the changing legal setting for capacity mechanisms. Lawyers, academics and other professionals who deal with EU electricity markets in the EU and beyond are sure to welcome its detailed description and analysis.