Security of Gas Supply and Energy Market Regulation
Security of Gas Supply and Energy Market Regulation

Author: Tade Oyewunmi

Publisher:

Published: 2016

Total Pages: 0

ISBN-13:

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The introduction of liberalisation and concepts such as third-party access, network ownership unbundling and competition in the EU's internal energy market following the first, second and third sets of EU legislative packages and directives had the effect of requiring Member States to significantly alter the regulatory and organisational structures of their energy markets, including traditional ways of promoting energy security. Consequently, state-owned or controlled vertically-integrated operators or centrally administered energy markets now have to meet the demands of open access and competition. There is also a shift away from traditional long-term gas supply contracts, towards more short-term spot-markets and trading hubs. Although, long-term supply arrangements could be seen as a means of achieving security of supply, it can also become an instrument which 'locks-in' ex ante investments in commercial arrangements with supplier(s) whose broader geopolitical and economic interests may be incompatible with the peculiar interests of the consuming state(s) or purchaser undertaking(s). Geopolitical conflicts relating to external suppliers, import dependency, declining regional gas production and the interconnectedness of gas and electricity markets, competitiveness of gas utilisation in the energy mix are some essential factors affecting the reliability and security of energy supply. This paper aims to examine some of the key regulatory and policy issues affecting the security of gas supply in the evolving EU internal energy market. It focuses on the dynamics of securing the availability and reliability of gas for electricity generation from a legal and regulatory perspective.

Law and Policy of the European Gas Market
Law and Policy of the European Gas Market

Author: Monica Waloszyk

Publisher: Edward Elgar Publishing

Published: 2014-07-31

Total Pages: 385

ISBN-13: 1783473479

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øLaw and Policy of the European Gas Market explores the law and politics of the EU gas market and in particular, the regulatory and competitive choices of institutions and bodies operating on the market, with a view to achieving a higher level of marke

Regulating Gas Supply to Power Markets
Regulating Gas Supply to Power Markets

Author: Tade Oyewunmi

Publisher: Kluwer Law International B.V.

Published: 2018-05-08

Total Pages: 275

ISBN-13: 9041199098

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Natural gas, a vital primary source of energy for the twenty-first century economy, is poised to play a major role in the medium- to long-term outlook of energy systems worldwide. Its supply to power markets for electricity generation and other energy purposes through the stages of exploration, production, gathering, processing, transmission, and distribution have been a key driver in gas commercialisation over the past two to three decades. This book discusses insights from law and economics pertaining to gas and energy supply contracts, regulation, and institutions. It provides an in-depth ‘law-in-context’ analysis of the approaches to developing competitive and secure gas-to-power markets in an increasingly international, interrelated, and interconnected value chain. Recognising a general move towards structural reforms and economic regulation of gas and energy markets globally, the author incisively addresses the following questions: – Is there a single ‘ideal’ model or approach for ensuring effectiveness in the restructuring and regulation of gas supply to power markets? If not, then what constitutes the matrix of models and approaches? – What are the underlying principles, assumptions, and institutional structures that will enhance the modern approaches to developing competitive, secure, and sustainable gas supply to power markets? – What are the factors that determine or affect the effectiveness and efficiency of such approaches and regulatory frameworks? The book critically explores the instrumental role of regulation and organisational institutions in the restructuring and development of gas supply markets. It examines the evolution of economic approaches to regulation, competitiveness, and security of gas supply in the United States and the United Kingdom. It considers the EU as a supranational union of developed economies and Nigeria as a developing economy, in the process of applying these paradigms of economic regulation and restructuring of gas-to-power markets. In a law and policy environment where training and educational centres, lawyers, and public and corporate energy advisors are becoming more concerned about competitiveness and efficiency in gas resource allocation and pricing – and about high-quality governance frameworks for industries that depend on reliable gas supplies – this vital book will be warmly welcomed by lawyers, policymakers, energy consultants, analysts, regulators, corporate investors, academics, and institutions concerned with and engaged in the business of exploration, production, and supply of gas for energy purposes.

European Energy Law
European Energy Law

Author: Renate Pirstner-Ebner

Publisher: Nomos Verlag

Published: 2022-06-14

Total Pages: 163

ISBN-13: 3748913621

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Das Buch zum Energierecht der Europäischen Union beinhaltet neben einer Einführung (Begriffe, Überblick) das Marktmodell für Strom und Gas (z.B. Gleichbehandlung, Netzzugang), die Regulierungseinrichtungen (ACER, Anforderungen an die nationalen Regulierungsbehörden) und die europäischen Koordinierungseinrichtungen (ENTSO [Strom] usw.). Ein eigenes Kapitel ist der Versorgungssicherheit für Strom- und Gas (Risikovorsorgeplan [Strom], Notfallplan und Solidaritätsprinzip [Gas]) gewidmet. Daneben werden die erneuerbaren Energien, Energieeffizienz, Speicherung, Dezentralisierung (Energiegemeinschaften) und Digitalisierung (Smart Meters) behandelt. Den Abschluss des Buches bildet das Kapitel "Energiesystem der Zukunft" (Green Smart Grid).

Building Competitive Gas Markets in the EU
Building Competitive Gas Markets in the EU

Author: Jean-Michel Glachant

Publisher: Edward Elgar Publishing

Published: 2013-01-01

Total Pages: 293

ISBN-13: 1782540644

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This highly unique book focuses on market design issues common to most EU gas markets, particularly in the context of closer integration. It explores in detail the characteristics and requirements of national gas markets in Europe, which are constructed as virtual hubs based on entry/exit schemes as a requirement of European law. The expert contributors analyse gas supply and demand patterns in the EU, showing that both have changed following the introduction of liquefied natural gas on the supply side and the growth of gas-fired power plants on the demand side. The repeated interactions between the transmission operators activity and the gas commodity markets are addressed, as is the design of commercial networks in EU markets. The contributors also question whether the relationship between commercial and physical networks, in terms of the new flexibility requirements of users, actually works. By way of conclusion, two proposals for the EU gas target model are presented, both of which tackle the fundamental issues raised in this book, as well as the organization of short-term transactions and the mechanisms for investment in vital new long-life infrastructure needed to integrate EU markets. This volume will be of great interest to practitioners, as well as academics, researchers and students in the fields of energy economics and industrial economics. Both European and non-European energy companies and regulatory authorities looking for an independent and analytical overview of European gas markets will also find this book to be a highly valuable resource.

Improving the Security of Energy Supply by Developing the Internal Energy Market
Improving the Security of Energy Supply by Developing the Internal Energy Market

Author:

Publisher:

Published: 2015

Total Pages: 84

ISBN-13:

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"This audit sought to determine whether implementation of internal energy market policy measures and EU spending on energy infrastructure have provided security of energy supply benefits effectively. The EU's objective of completing the internal energy market by 2014 was not reached. Energy infrastructure in Europe is generally not yet designed for fully integrated markets and therefore does not currently provide effective security of energy supply. Financial support from the EU budget in the field of energy infrastructure has made only a limited contribution to the internal energy market and security of energy supply."--Page 4 of cover.

The Security of Energy Supply in the European Union
The Security of Energy Supply in the European Union

Author: Jean-Arnold Vinois

Publisher:

Published: 2012

Total Pages: 0

ISBN-13: 9789081690423

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This book examines the latest developments of the European Union's energy policy and, particularly, the way security of its energy supply is taken into account and handled. As one of the three objectives of the EU energy policy, the security of supply emerged as a central element of the policy, following the January 2009 gas crisis and now with the consequences of the Fukushima events. The contributions to the book analyze the extensive developments toward energy security, the impact of the third internal market package on its reinforcement, and the major role to be played by infrastructures in physically ensuring the security of supply. It discusses the most recent and relevant instruments adopted by the European Union in the fields of oil (the so-called oil stocks directive) and gas (the regulation on security of gas supply). In the field of electricity, the book reports on the experience of the transmission system operators working together in the European Network (ENTSO-E) to guara

Energy Security
Energy Security

Author: Barry Barton

Publisher: OUP Oxford

Published: 2004

Total Pages: 522

ISBN-13: 9780199271610

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This volume examines energy security in a privatized, liberalized, and increasingly global energy market, in which the concept of sustainability has developed together with a higher awareness of environmental issues, but where the potential for supply disruptions, price fluctuation, and threats to infrastructure safety must also be considered.

Regulatory Reform
Regulatory Reform

Author: Jochen Hierl

Publisher:

Published: 2000

Total Pages: 136

ISBN-13:

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The countries of Continental Europe have started the process of reforming their natural gas markets. This book sets the context for, and considers the issues raised by, these reforms. It also analyses the key elements of effective reform, such as third party access to the gas infrastructure. Unlike earlier reformers, Europe faces important challenges of growing import dependency and reliance on a few large producer countries, against a background of strong demand growth. It is vital that both short and long term security of supply are sustained in the new market conditions. At the same time a key objective of reform is to improve economic efficiency through competition and short term trade, in order to reduce prices for natural gas consumers. The book argues that security and competition are not incompatible, and that security can be enhanced by competition provided that reform is handled with care. As Europe implements the EU Gas Directive, this book is a timely review for energy policy makers and others involved in the reform process. It is the latest in a series of IEA publications on energy market reforms.

Energy Security and Natural Gas Markets in Europe
Energy Security and Natural Gas Markets in Europe

Author: Tim Boersma

Publisher: Routledge

Published: 2015-08-27

Total Pages: 172

ISBN-13: 1317636635

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Moving beyond most conventional thinking about energy security in Europe which revolves around stability of supplies and the reliability of suppliers, this book presents the history of European policy-making regarding energy resources, including recent controversies about shale gas and fracking. Using the United States as a benchmark, the author tests the hypothesis that EU energy security is at risk primarily because of a lack of market integration and cooperation between member states. This lack of integration still prohibits natural gas to flow freely throughout the continent, which makes parts of Europe vulnerable in case of supply disruptions. The book demonstrates that the EU gas market has been developing at different speeds, leaving the Northwest of the continent reasonably well integrated, with sufficient trade and liquidity and different supplies, whereas other parts are less developed. In these parts of Europe there is a structural lack of investments in infrastructure, interconnectors, reverse flow options and storage facilities. Thus, even though substantial progress has been made in parts of the EU, single source dependency often prevails, leaving the relevant member states vulnerable to market power abuse. Detailed comparisons are made of the situations in the Netherlands and Poland, and of energy policy in the USA. The book dismantles some of the existing assumptions about the concept of energy security, and touches upon the level of rhetoric that features in most energy security and policy debates in Europe.