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Author: Mr. Serhan Cevik Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 22
Book Description
European power markets are in the midst of unprecedented changes, with a record-breaking surge in energy prices.This paper investigates the impact of green power resources on the level and volatility of wholesale electricity prices at a granular level, using monthly observations for a panel of 24 European countries over the period 2014–2021 and alternative estimation methods including a panel quantile regression approach. We find that renewable energy is associated with a significant reduction in wholesale electricity prices in Europe, with an average impact of 0.6 percent for each 1 percentage points increase in renewable share. We also find evidence for a nonlinear effect—that is, higher the share of renewables, the greater its effect on electricity prices. On the other hand, while quantile estimation results are mixed with regards to the impact of renewables on the volatility of electricity prices, we obtain evidence that renewable energy has a negative effect on volatility at the highest quantiles. Overall, our analysis indicates that policy reforms can help accelerate the green transition while minimizing the volatility in electricity prices.
Author: Mr. Serhan Cevik Publisher: International Monetary Fund ISBN: Category : Business & Economics Languages : en Pages : 22
Book Description
European power markets are in the midst of unprecedented changes, with a record-breaking surge in energy prices.This paper investigates the impact of green power resources on the level and volatility of wholesale electricity prices at a granular level, using monthly observations for a panel of 24 European countries over the period 2014–2021 and alternative estimation methods including a panel quantile regression approach. We find that renewable energy is associated with a significant reduction in wholesale electricity prices in Europe, with an average impact of 0.6 percent for each 1 percentage points increase in renewable share. We also find evidence for a nonlinear effect—that is, higher the share of renewables, the greater its effect on electricity prices. On the other hand, while quantile estimation results are mixed with regards to the impact of renewables on the volatility of electricity prices, we obtain evidence that renewable energy has a negative effect on volatility at the highest quantiles. Overall, our analysis indicates that policy reforms can help accelerate the green transition while minimizing the volatility in electricity prices.
Author: Behnam Zakeri Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
The post-pandemic surge in energy prices in Europe, exacerbated by the consequences of the Russia-Ukraine war, has intensified a critical debate over EU energy and climate policy: to what extent are variable renewable energy, namely wind power and solar PV, versus fossil fuels impacting electricity markets and prices? Using econometric analysis and European open power system data between 2015-2019, we quantify the role of fossil-fuelled vs. low-carbon electricity generation in shaping wholesale electricity prices in Europe. We find that, despite a declining share in electricity generation, fossil fuels are still the main power plants “at the margin” and set power prices in Europe about 66% of the time whilst generating only 37% of electricity per year. Energy transitions in Europe have shifted dependency away from coal toward natural gas as the main electricity price setter, making European electricity prices dependent on natural gas prices more than ever. As natural gas is mostly imported to Europe, this exposes electricity prices to the geopolitical risks of gas supply, as well as the economic risks of currency exchange and natural gas price volatility. We discuss potential solutions to these issues.
Author: Anatole Boute Publisher: Oxford University Press ISBN: 0198890478 Category : Law Languages : en Pages : 273
Book Description
Russia's 2022 invasion of Ukraine administered an unprecedented shock to the European and global energy markets, triggering emergency interventions and market reforms to limit the impact of the crisis on energy prices and supply security. More fundamentally, the supply shock sparked a profound reappraisal of foreign supply and infrastructure dependencies (for example, on China), leading states to adopt new legal initiatives to strengthen the resilience of their clean energy supply chains. Energy geopolitics and supply security are now firmly back at the centre of global energy policy, and in this new geopolitical reality, we critically need to reassess the role of energy law in the creation - and avoidance - of dangerous energy dependencies. Using the 2022 energy crisis as core example, Energy Dependence and Supply Security offers a legal analysis of energy trade and investment as a tool of geopolitical power, an issue seldom considered outside of economic statecraft and energy geopolitics. Anatole Boute's timely analysis illustrates the paradox of energy law and security: legal instruments of energy security have helped create the supply and infrastructure dependencies that allowed for the weaponization of energy. The book examines the legal responses adopted by the European Union to the impact of the Russian energy shock, reflecting on strategies to avoid similar disruptions in the clean energy industry. In turn, it proposes innovative supply security reforms that would allow dependencies to be managed, while still preserving the international collaboration that is needed to accelerate the transition to clean, affordable, and secure energy systems.
Author: European Wind Energy Association Publisher: Routledge ISBN: 1136548602 Category : Nature Languages : en Pages : 593
Book Description
Wind power is often held up as the most accessible and cost-effective route to reducing our reliance on fossil fuels and improving our energy independence, yet knowledge of what it offers is often clouded by myths and misunderstandings, which can hamper its adoption. This new book, the result of an ambitious project coordinated by the European Wind Energy Association, aims to present the facts about wind energy. It includes six sections discussing: technology grid integration economics of wind its industry and markets its environmental impacts the scenarios and targets for wind energy. Contributions are drawn from nine leading research bodies across Europe, and the material is global in its scope. It is therefore an essential resource and reference for those whose work or study demands an in-depth examination of the subject, and for anyone who wants detailed, accurate and up-to-date information on this key energy source.
Author: Susanne Nies Publisher: ISBN: 9789077644591 Category : Clean energy Languages : en Pages : 0
Book Description
The energy transition is a European flagship project. It corresponds to a disruptive innovation cycle, which has just started, across Europe. The transition encompasses innovation in new technologies, business models, and processes, as well as institution building and change of governance models. While Europe at large is concerned, old divide lines continue to exist, and new ones emerge. The EU has formulated ambitious objectives, and citizens support a common European energy policy - the Energy Union - as the Eurobarometer reveals regularly. This book analyzes the factors driving chan≥ in particular the Climate agenda, the new active customer paradigm and changing attitudes, as well as businesses changing ('business model innovation') and new actors emerging. It proceeds with a reality check based on facts and figures, and describes the various aspects of the European Energy transition.
Author: Michael Grubb Publisher: ISBN: Category : Conservation Languages : en Pages : 264
Book Description
This project examines the issues entailed in European policies for promoting renewable energy. This set contains five volumes, each of which is a free-standing publication and which together cover the entire subject.
Author: Mr. Serhan Cevik
Author: Mr. Serhan Cevik
Author: Behnam Zakeri
Author: Anatole Boute
Author: 
Author: European Wind Energy Association
Author: European Wind Energy Association
Author: European Commission
Author: Susanne Nies
Author: Michael Grubb
Author: European Wind Energy Association