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Liberalizing European Energy Markets
Based on a state-of-the-art detailed numerical simulation model, this volume presents an economic analysis of the main effects of liberalizing the electricity and natural gas markets across Western Europe.
Finn Roar
None
European Integration and Disintegration
European integration is an ambitious goal that attempts to reconcile grandiose visions for the future of Europe with complicated national attitudes toward unity. The added complexity of political crises, which have characterized the European project from its outset, makes the success of the European Union far from guaranteed. Today, European unity is once again at an existential crossroad, with internal and external challenges threatening its integration. This volume uniquely brings together the novel perspectives of Europe’s emergent generation of thinkers to analyze through interdisciplinary lenses these various disintegrative pressures. Students and scholars of Europe as well as those interested in the future of European cohesion will enjoy this volume, both for the interdisciplinary analysis it brings forth and for the window it provides into the thinking of Europe’s next generation of leaders.
Liberalizing Russian Gas Markets - An Economic Analysis
The Russian gas market is highly regulated. In this paper we examine possible impacts of regulatory changes on the demand side of this market. In particular, we consider the effects on Russian energy consumers of removing natural gas subsidies, and how changes in Russian gas consumption may affect its gas export to Europe. We also examine the importance of Russian pipeline capacity to Europe, as well as impacts of hypothetical changes in Russian gas export behavior. For this purpose, we use a detailed numerical model for the energy markets in Europe and Russia - LIBEMOD. Our results suggest that removing implicit subsidies to Russian gas consumers will have substantial impacts on total consumption of gas in Russia, especially in the electricity sector. Gas exports to Europe will be significantly affected as more gas becomes available for exports. Removal of other market imperfections in the Russian energy markets has smaller impacts on prices and quantities than removing gas subsidies. More competitive Russian gas export behavior would lead to much higher gas export to Europe, but our results suggest that Russian welfare would drop due to lower gas export prices.
Carbon Prices are Redundant in the 2030 EU Climate and Energy Policy Package
In June 2018, an agreement between key EU institutions - the Commission, the European Parliament, and the European Council - was reached after a long-lasting discourse over the 2030 EU climate and energy policy package. This paper offers a comprehensive assessment of the EU package, with its three main targets: lower greenhouse gas emissions, higher renewable share in final energy consumption, and improved energy efficiency. We find that the renewable and energy-efficiency targets have been set so high that the derived emissions reduction exceeds the EU climate target. Hence, carbon prices are redundant in reaching the EU climate goal. This policy, however, is not cost efficient.
