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.
The book examines the legal guarantees provided under the European Union (EU) and the World Trade Organization (WTO) rules for the development of electricity transmission systems, either by constructing new transmission lines or by increasing transmission capacity. In the context of an analysis of trade rules, the book makes the argument that, if long-distance trade in electricity remains a feasible option, the development of electricity transmission projects must be made subject to economic, technological, and environmental criteria. This topic is dealt with in light of specific challenges of electricity trade related to its dependence on networks, storage and balancing. The book offers insights into the scope of the WTO and the EU related to access to and the development of cross-border electricity infrastructure development, connection, and integration of abundant renewable energies into the electricity systems. It criticizes the EU's regulations in terms of a lack of technological neutrality, as well as the WTO system in terms of lack of sector-tailored regulations that are necessary to achieve the objectives of the WTO to facilitate trade and transit. The regulatory environment for the development of cross-border electricity transmission projects has been examined based on identified obstacles from the analysis of the major multinational electricity systems in the world. [Subject: International Trade Law, Energy Law, EU Law, WTO]
Bridging theory and practice, this book offers insights into how Europe has experienced the evolution of modern electricity markets from the end of the 1990s to the present day. It explores defining moments in the process, including the four waves of European legislative packages, landmark court cases, and the impact of climate strikes and marches.
Energy security is a burning issue in a world where 1.4 billion people still have no access to electricity. This book is about finding solutions for energy security through the international trading system. Focusing mainly on the European Union as a case study, this holistic and comprehensive analysis of the existing legal and geopolitical instruments strives to identify the shortcomings of the international and EU energy trade governance systems, concluding with the notion of a European Energy Union and what the EU is politically prepared to accept as part of its unified energy security.
This volume includes chapters on "Developments in the EU and EU Energy Law", "EU Case Law", "New Developments in Cross-border Energy Governance", "Energy Communities" and "Clean Hydrogen: Regulatory Frameworks".
From evaluating policy delivery on wind farms in Texas in the US, to developing nuclear power in the Middle East, this book presents fresh thinking on key concepts and ideas on energy law and policy delivery. The contributors write from a range of perspectives, including the sciences, law, politics, economics and engineering.
Recent years have seen a major growth in the European law concerning the operation of the energy industry, especially with respect to electricity and gas. Several directives have been adopted that are aimed at the promotion of competition in this key sector of the European economy. At thesame time, the jurisprudence of the European Court had developed further on matters such as access to networks, import and export monopolies and security of supply.In this book the authors examine the principal legislation, Treaty provisions and decisions of the Court of Justice and Court of First Instance of the EU as they related to the promotion of competition in European energy markets. In particular, two chapters are devoted to a detailed analysis of theprovisions of the two directives that set out common rules for the creation of an internal market in the electricity and gas sectors. In each case, the analysis is set in the context of the various programmes of energy market liberalization and privatization in the Member States, which aresummarized in this book. However, the authors also take the wider pan-European context into account, explaining the requirements and the implications of the European Economic Area Agreement, the Energy Charter Treaty and the Europe Agreements with countries of Central and Eastern Europe.The approach adopted by the authors is both analytical and historical. They locate the legislation in the context of the EU Internal Market programme that began in the late 1980s and explain the roles played by the various parties (energy industries, consumers and EU institutions) in shaping thefinal legislation. Importantly, they explain how the framework character of the energy directives has led to further important rule-making in the implementation of the directives across the EU. They conclude that a co-ordinated response between the European Commission and the national regulatorswill be essential to resolve problems arising in the transition to a competitive energy market in the EU.
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
