Info
- Utilizzare la checkbox di selezione a fianco di ciascun documento per attivare le funzionalità di stampa, invio email, download nei formati disponibili del (i) record.
Regulation of energy markets : economic mechanisms and policy evaluation / / Machiel Mulder
| Regulation of energy markets : economic mechanisms and policy evaluation / / Machiel Mulder |
| Autore | Mulder Machiel |
| Edizione | [Second edition.] |
| Pubbl/distr/stampa | Cham, Switzerland : , : Springer, , 2023 |
| Descrizione fisica | 1 online resource (407 pages) |
| Disciplina | 333.79 |
| Collana | Lecture notes in energy |
| Soggetto topico | Energy policy |
| ISBN |
9783031165719
9783031165702 |
| Formato | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Intro -- Preface -- Contents -- About the Author -- List of Figures -- List of Tables -- List of Boxes -- 1 Economic Analysis of Energy Markets: An Introduction -- 1.1 Introduction -- 1.2 Background -- 1.2.1 Importance of Energy for Economic Development -- 1.2.2 Societal Consequences of Energy Use -- 1.3 Energy Markets, Climate Policy and Energy Transition Policy -- 1.3.1 Energy Markets -- 1.3.2 Climate Policy and Energy Transition Policy -- 1.3.3 Energy Markets and Climate Policy -- 1.4 Approaches to Analyse Regulation -- 1.4.1 Public-Interest Approach -- 1.4.2 Other Approaches -- 1.5 Organization of the Book -- 1.5.1 Target Group -- 1.5.2 Learning Objectives -- 1.5.3 Outline -- 1.6 Exercises -- References -- 2 Energy Carriers and Supply Chains -- 2.1 Introduction -- 2.2 Sources and Use of Energy -- 2.2.1 Primary Sources and Conversion to Final Energy -- 2.2.2 Energy Balance -- 2.3 Energy Carriers -- 2.3.1 Coal -- 2.3.2 Oil -- 2.3.3 Natural Gas and Green Gases -- 2.3.4 Electricity -- 2.3.5 Hydrogen -- 2.3.6 Heat -- 2.4 Activities in Energy Supply Chains -- 2.4.1 Overview -- 2.4.2 Exploration, Development and Production -- 2.4.3 Conversion -- 2.4.4 Transport -- 2.4.5 Storage -- 2.4.6 Trade and Supply -- 2.4.7 Final Energy Consumption -- 2.5 Organization of the Supply Chain -- 2.5.1 Economic Concepts -- 2.5.2 Organization of Supply Chains in Energy Systems -- 2.6 Exercises -- References -- 3 Energy Markets and Energy Policies -- 3.1 Introduction -- 3.2 Dimensions of Energy Markets -- 3.3 Characteristics of Various Energy Markets -- 3.3.1 Coal Market -- 3.3.2 Oil Market -- 3.3.3 Gas Market -- 3.3.4 Electricity Market -- 3.3.5 Hydrogen Markets -- 3.3.6 Heat Markets -- 3.4 Energy Policies -- 3.4.1 Types of Governance -- 3.4.2 Designing Energy Markets -- 3.4.3 Legal Framework for Sector-Specific Regulation -- 3.5 Exercises -- References.
4 Microeconomic Perspective on Regulating Energy Markets -- 4.1 Introduction -- 4.2 Microeconomic Concepts -- 4.2.1 Consumers Maximizing Utility -- 4.2.2 Producers Minimizing Costs -- 4.2.3 Allocation of Commodities Between Producers and Consumers -- 4.2.4 Perfect Markets as Benchmark -- 4.2.5 Market Failures -- 4.2.6 Regulatory Failures -- 4.3 Cost-Benefit Analysis -- 4.3.1 Welfare Economics -- 4.3.2 Policy Variants and Scenarios -- 4.3.3 Various Types of Welfare Effects -- 4.3.4 Discounting -- 4.4 Cost-Effectiveness Analysis -- 4.5 Exercises -- References -- 5 Information Asymmetry in Retail Energy Markets -- 5.1 Introduction -- 5.2 Information on Product Characteristics -- 5.2.1 Market Failure -- 5.2.2 Variety in Energy Products -- 5.2.3 Regulation -- 5.3 Information on Supply -- 5.3.1 Market Failures -- 5.3.2 Regulation -- 5.4 Information on Firm Characteristics -- 5.4.1 Theory -- 5.4.2 Regulation -- 5.5 Exercises -- References -- 6 Natural Monopoly in Transport and Distribution -- 6.1 Introduction -- 6.2 Natural Monopolies -- 6.2.1 Monopolies and Competition Policy -- 6.2.2 Definition of Natural Monopoly -- 6.2.3 Policy Responses to Natural Monopolies -- 6.3 Principles of Tariff Regulation -- 6.3.1 Introduction -- 6.3.2 Information Asymmetry and Regulatory Solutions -- 6.3.3 Incentive Power and Tightness -- 6.3.4 Definition of Costs -- 6.4 Benchmarking -- 6.4.1 Concepts of Productivity and Efficiency -- 6.4.2 Empirical Methods -- 6.4.3 Yardstick Regulation -- 6.4.4 Profit Sharing -- 6.5 Cost of Capital -- 6.5.1 WACC -- 6.5.2 Cost of Equity -- 6.5.3 Market-Risk Premium -- 6.5.4 Asset and Equity Beta -- 6.5.5 Cost of Debt -- 6.6 Tariffs and Revenues -- 6.6.1 Tariff Structure -- 6.6.2 Allowed Revenues and X-factor -- 6.6.3 Maximum Tariffs -- 6.7 Performance of Networks -- 6.7.1 Tariff Regulation and Investments -- 6.7.2 Incentives for Quality. 6.8 Ex-post Evaluation -- 6.8.1 Monitoring Profits of Regulated Firms -- 6.8.2 Monitoring Financial Strength of Regulated Firms -- 6.9 Exercises -- References -- 7 Reliability of Energy Supply as Semi-Public Good -- 7.1 Introduction -- 7.2 Energy Networks and Markets -- 7.3 Pricing of Network Capacity -- 7.3.1 Organization of Market and Network Usage -- 7.3.2 Pricing of Network in Nodal Pricing System -- 7.3.3 Pricing of Network Capacity in Zonal System -- 7.4 Pricing of System Balance -- 7.4.1 Public-Good Character of System Balance -- 7.4.2 Definition of Balance on System Level -- 7.4.3 Delegation of Balancing Responsibility to Market Participants -- 7.4.4 Determining the Balancing Energy Price -- 7.4.5 Financial Settlement -- 7.5 Pricing of Generation Adequacy -- 7.5.1 Introduction -- 7.5.2 Investment Incentives in Electricity Markets -- 7.5.3 Market Failure: Insufficient Generation Capacity -- 7.5.4 Regulation: Setting the Price -- 7.5.5 Regulation: Organizing Reserve Capacity -- 7.6 Exercises -- References -- 8 Externalities in Production and Consumption in Energy Markets -- 8.1 Introduction -- 8.2 Externalities in Energy Markets -- 8.2.1 Theory -- 8.2.2 Examples of Externalities in Energy Markets -- 8.2.3 Regulatory Measures -- 8.3 Environmental Taxes -- 8.3.1 Pigouvian Tax -- 8.3.2 Differentiation in Tariffs -- 8.4 Support Schemes -- 8.4.1 Multiple Objectives of Support Schemes -- 8.4.2 Design Choices of Support Schemes -- 8.5 Emissions Trading -- 8.5.1 Primary and Secondary Allocation of Allowances -- 8.5.2 Determination of Allowances Price -- 8.5.3 EU Emissions Trading System -- 8.6 Interaction Among Environmental Measures -- 8.7 Security of Supply Measures -- 8.7.1 Defining Security of Supply from Economic Perspective -- 8.7.2 Strategic Energy Reserves -- 8.8 Exercises -- References -- 9 Market Power in Wholesale and Retail Energy Markets. 9.1 Introduction -- 9.2 Conditions for and Consequences of Use of Market Power -- 9.2.1 Ability and Incentive to Behave Strategically -- 9.2.2 Welfare Consequences of Use of Market Power -- 9.3 Vulnerability of Energy Markets to Market Power -- 9.3.1 Inflexibility of Energy Supply -- 9.3.2 Inflexibility of Energy Demand -- 9.3.3 Inability to Store Energy -- 9.3.4 Presence of Constraints in Energy Networks -- 9.4 Monitoring Market Power in Energy Markets -- 9.4.1 Market Outcomes -- 9.4.2 Market Structure -- 9.4.3 Behaviour of Market Parties -- 9.5 Regulatory Measures to Address Market Power in Energy Markets -- 9.5.1 Introduction -- 9.5.2 Removing Entry Barriers -- 9.5.3 Increasing Demand Flexibility -- 9.5.4 Fostering Storage and Other Flexible Sources -- 9.5.5 Removing Network Bottlenecks -- 9.6 Exercises -- References -- 10 International Restrictions on Trade in Energy -- 10.1 Introduction -- 10.2 Theory of Integration of Markets -- 10.2.1 Market Outcomes Without Integration -- 10.2.2 Market Outcomes with Full Integration -- 10.2.3 Market Outcomes with Limited Integration -- 10.3 Economic Effects of International Trade -- 10.3.1 Introduction -- 10.3.2 Effects on Productive Efficiency -- 10.3.3 Effects on Competition -- 10.3.4 Effects on Security of Supply -- 10.4 Regulatory Measures to Foster International Integration -- 10.4.1 Introduction -- 10.4.2 Virtual Extension of Cross-Border Capacity -- 10.4.3 Physical Extension of Grid Capacity -- 10.4.4 Public or Merchant Investment? -- 10.5 International Spillover Effects of National Energy Policies -- 10.5.1 International Dimension of Energy Policies -- 10.5.2 National Policies in International Electricity Markets -- 10.6 Exercises -- References -- 11 Distributional Effects and Equity Concerns in Energy Markets -- 11.1 Introduction -- 11.2 Theory: Allocative Efficiency and Distribution. 11.3 Distribution of Resource Rents -- 11.3.1 Theory -- 11.3.2 Regulation -- 11.4 Energy Poverty and Fairness -- 11.4.1 Theory -- 11.4.2 Regulation -- 11.5 Exercises -- References -- 12 Regulating Energy Markets: Concluding Remarks -- 12.1 Introduction -- 12.2 Components of Regulating Energy Markets -- 12.3 Economic Criteria for Optimal Regulation -- 12.4 Economic Principles for an Efficient Energy Transition -- 12.5 Exercises -- Appendix A -- Definitions -- Appendix B -- Answers on Exercises -- B.1 Chapter 1 -- B.2 Chapter 2 -- B.3 Chapter 3 -- B.4 Chapter 4 -- B.5 Chapter 5 -- B.6 Chapter 6 -- B.7 Chapter 7 -- B.8 Chapter 8 -- B.9 Chapter 9 -- B.10 Chapter 10 -- B.11 Chapter 11 -- B.12 Chapter 12 -- Index. |
| Record Nr. | UNINA-9910637720203321 |
Mulder Machiel
|
||
| Cham, Switzerland : , : Springer, , 2023 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Regulation of energy markets : economic mechanisms and policy evaluation / / Machiel Mulder
| Regulation of energy markets : economic mechanisms and policy evaluation / / Machiel Mulder |
| Autore | Mulder Machiel |
| Edizione | [1st ed. 2021.] |
| Pubbl/distr/stampa | Cham, Switzerland : , : Springer, , [2021] |
| Descrizione fisica | 1 online resource (XXVI, 361 p. 124 illus., 103 illus. in color.) |
| Disciplina | 333.79 |
| Collana | Lecture notes in energy |
| Soggetto topico |
Energy industries - Government policy
Energy policy Environmental economics |
| ISBN | 3-030-58319-8 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto | Economic Analysis of Energy Markets: An Introduction -- Energy Carriers and Supply Chains -- Energy Markets and Energy Policies -- Microeconomic Perspective on Regulating Energy Markets -- Information Asymmetry in Retail Energy Markets -- Natural Monopoly in Transport and Distribution -- Reliability of Energy Supply as Semi-Public Good -- Externalities in Production and Consumption in Energy Markets -- Market Power in Wholesale and Retail Energy Markets -- International Restrictions on Trade in Energy -- Distributional Effects and Equity Concerns in Energy Markets -- Regulating Energy Markets: Concluding Remarks. |
| Record Nr. | UNINA-9910484855903321 |
|
Mulder Machiel
|
||
| Cham, Switzerland : , : Springer, , [2021] | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||