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We propose a model of the European gas market where the risk that Russian deliveries are interrupted is endogenized. While Russia's attempts to buy considerable parts of the European downstream industry have faced strong political opposition, we argue that Russian participation in the downstream...
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The electricity generation mix of many European countries is strongly dominated by fossil fuelled power plants. Given that CO2-emissions are responsible for a major part of the anthropogenic greenhouse effect, emission trading has been introduced in the EU in 2005. Under the European emissions...
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An increasing reliance on solar and wind power has raised concern about system ability to consistently satisfy electricity demand. This paper examines countries' unilateral incentives to achieve supply security through capacity reserves and market integration in a multinational electricity...
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