The European electricity and gas markets have been going through a process of liberalisation since the early 1990s. This process has changed the sector from a regulated structure of, predominantly, publicly owned monopolists controlling the entire supply chain, into a market where private and...

This report develops a roadmap for reliability policy in network industries. Based on economic theory, we analyse the relationship between reliability and various types of government policy: privatisation, liberalisation, regulation, unbundling, and 'commitment policy'. We let government...

As European energy markets move towards deregulation, energy prices shift from classic ‘cost plus' prices towards market prices. Read also the accompanying <a href="http://www.cpb.nl/en/pressrelease/3213211/competition-lowers-energy-expenditures-end-users">press release</a>. We develop a model for the retail and wholesale energy markets in Europe, based on Bertrand competition in a two part...

With the ongoing liberalization and integration of European energy markets and the increasing worries about security of supply, the need for thorough economic analysis of electricity markets is growing. Elmar is a model for the European electricity market, taking into account imperfect...

This paper analyses the welfare effects of vertical integration of networks and trade in energy markets. Vertical integration reduces the effect of double marginalisation, thus increasing welfare. On the other hand, vertical integration hinders equal competition, rendering the vertically...

The key question dealt with in this report is whether and how governments should be involved in taking measures regarding security of energy supply. In order to answer this question, we developed a framework for cost-benefit analysis and applied this framework to a number of policy...

This report analyses three instruments aimed at increasing the reliability of electricity production. Read also the accompanying <a href="http://www.cpb.nl/en/pressrelease/3213057/government-measures-raise-security-energy-supply-are-expensive">press release</a> and Special Publication '<a href="http://www.cpb.nl/en/publication/energy-policies-and-risks-energy-markets-cost-benefit-analysis">Energy policies and risks on energy markets; a cost-benefit analysis</a>'. In the system of capacity markets, the transmission...

In this memorandum a number of frequently asked questions are answered about oil and the world economy In July 2007 the memorandum of December 2004 was updated.

This report analyses the effects of Depreciation at Will (DAW) on offshore gas production, government budget and employment in the gas industry. The DAW enables firms to accelerate deprecation of investments in platforms and other offshore equipment. The interest advantage due to the postponed...

This Document describes the background and the rationale of the European Union for pursuing liberalised energy markets, explains why this policy goal is not achieved yet, and discusses recent developments and some of the future challenges faced by political decision makers. Read also the...