Do current electricity market designs ensure a sufficient electricity supply at all times? This topic is currently the subject of intense debate across Europe, and several major countries such as Germany, the UK, France and Italy have decided that additional measures – so-called capacity remuneration mechanisms - are needed to supplement current market designs. This report describes and analyses the advantages and disadvantages of a range of measures proposed or currently implemented across Europe, and includes both best estimates of how the implementation of these measures will impact Nordic electricity prices as well as recommendations to the Nordic countries regarding a cost-efficient path to ensuring the Nordic security of supply.

This book combines the fundamentals of industrial organization theories based on microeconomic foundations, applied econometrics and environmental and natural resource economics in undertaking a comprehensive review of reforms of the power sector and its impact on industrial and socio-economic performance. The book provides the reader with the intellectual groundwork necessary for understanding the workings and interactions of today’s reforming power markets such as in the ASEAN and East Asia that are striving to achieve the energy policy trilemma of affordability, energy sustainability and energy security. The topics addressed in this book include application of welfare theorems such as competition in and for the market in the electricity sector, market failures such as lack of electricity access, analysis of forecasting models under volatility, energy resource allocation such as renewable energy and competitive market designs of energy markets. Country-specific and region-specific case studies are used to analyze the progress and outcomes of market-driven electricity reforms across the reforming and advanced electricity markets. Therefore, the book derives policy lessons and provides policy recommendations in reforming power markets for the ASEAN and East Asia taking stock of more than three decades of global experience with power sector reforms. The electricity markets case studies are carefully chosen and supported by extensive data analyses as appropriate. This book on energy economics and policy is highly recommended to readers who seek an in-depth and up-to-date integrated overview about the evolving literature and status on electricity market reforms with a particular reference to Asia.

This book presents a panoramic look at the transformation of the transmission network in the context of the energy transition. It provides readers with basic definitions as well as details on current challenges and emerging technologies. In-depth chapters cover the integration of renewables, the particularities of planning large-scale systems, efficient reduction and solution methods, the possibilities of HVDC and super grids, distributed generation, smart grids, demand response, and new regulatory schemes. The content is complemented with case studies that highlight the importance of the power transmission network as the backbone of modern energy systems. This book will be a comprehensive reference that will be useful to both academics and practitioners.

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

Electricity-contract auctions have been getting increased attention as they have emerged as a successful mechanism to procure new generation capacity and. This book presents a comprehensive overview of international experiences in auction design and implementation.

This book discusses trends in the energy industries of emerging economies in all continents. It provides the forum for dissemination and exchange of scientific and engineering information on the theoretical generic and applied areas of scientific and engineering knowledge relating to electrical power infrastructure in the global marketplace. It is a timely reference to modern deregulated energy infrastructure: challenges of restructuring electricity markets in emerging economies. The topics deal with nuclear and hydropower worldwide; biomass; energy potential of the oceans; geothermal energy; reliability; wind power; integrating renewable and dispersed electricity into the grid; electricity markets in Africa, Asia, China, Europe, India, Russia, and in South America. In addition the merits of GHG programs and markets on the electrical power industry, market mechanisms and supply adequacy in hydro-dominated countries in Latin America, energy issues under deregulated environments (including insurance issues) and the African Union and new partnerships for Africa's development is considered.

With twenty-two chapters written by leading international experts, this volume represents the most detailed and comprehensive Handbook on electricity markets ever published.