The war in Ukraine has brought the challenges stemming from Europe's dependency on natural gas and oil imports into sharp focus. This has also highlighted another dependency - that on raw materials that are critical for the EU's transition to a low-carbon economy. A strategic approach to raw...

Die vorliegende Arbeit setzt sich im Kern mit der Frage auseinander, wie sich der aktuelle Energiemix in Deutschland und Europa zusammensetzt, welche grundlegenden Herausforderungen im Bereich Energieversorgung künftig auf die Länder Europas zukommen und mit welchen Strategien auf drohende...

This paper describes the main features of a model developed for fore-casting economic developments, energy demand and greenhouse gas emissions in the EU area and Finland as well as for simulating the economic impacts of EU climate policy. Climate policy analysis necessitates a model of the whole...

White certificates schemes mandate competing energy companies to promote energy efficiency with flexibility mechanisms, including the trading of energy savings. So far, stylized facts are lacking and outcomes are mainly country-specific. By comparing results of British, Italian and French...

This paper is a follow up of the SECURE-project, financed by the European Commission to study "Security of Energy Considering its Uncertainties, Risks and Economic Implications". It addresses the perspectives of, and the obstacles to a CCTS-roll out, as stipulated in some of the scenarios. Our...

The recent implementation of the EU Emissions Trading Scheme (EU ETS) in January 2005 created new financial risks for emitting firms. To deal with these risks, options are traded since October 2006. Because the EU ETS is a new market, the relevant underlying model for option pricing is still a...

This paper empirically examines price formation in the European Union Emissions Trading Scheme (EU ETS). Our analysis shows that unexpected allocations of European Union Allowances (EUAs) lead to pronounced price reactions of the expected signs. Moreover, we find evidence that the adjustment of...

Europe's power system is still marked by a distinct national component, and despite some regions with strongly integrated power systems, electricity supply today still has a largely national basis. Policies to decarbonise the power sector may fundamentally alter this situation, because power...

This paper looks at the restructuring of European electricity markets that has been taking place since the 1990s. This liberalisation process, driven largely by EU legislation aiming to create a single market for electricity, has led to significant changes in how electricity markets in member...

Most economic models struggle to incorporate biophysical relationships between materials, energy and emissions, in order to appropriately deal with biophysical constraints of supply (and possibly also demand). After the incorporation of biophysical constraints, some functions produced surprising...