This paper analyzes the role of private storage in a market for a commodity (e.g. natural gas) whose supply is subject to the threat of an irreversible disruption. We focus on the medium term in which seasonality of demand and exhaustibility can be neglected. We characterize the price and...

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...

The article discusses the development of Baltic transmission networks, related to the program of the European Union (EU) to improve the security of energy supply, competitiveness and improve the development. Infrastructure projects to meet the needs of electricity in the EU are considered. The...

The German Energiewende’s potential effects on the reliability of electricity supply as well as the corresponding economic consequences have recently entered both the political and scientific debate. However, empirical evidence of power outage costs in Germany is rather scarce. Following a...

In this study, we develop a structural vector autoregressive model (VAR) for the German natural gas market. Our setup allows us to analyze the determinants of the natural gas price in a comprehensive framework. In particular, we illustrate the usefulness of our approach by disentangling the...

Supply shocks in the global gas market might aff ect countries diff erently since the market is regionally interlinked but not perfectly integrated. Additionally, high supply side concentration might expose countries to market power in different ways. To evaluate the strategic position of...

The choice of which type of electrical power generation technology to adopt is driven by a number of factors including: cost of generated electricity; responsiveness of generating plant to demand; security of supply/resource availability; environmental impact; and execution risk. Within these,...

The Gas Target Model is a challenge, notably for the less than large European markets that are fostered to merge in order to boost liquidity. Th challenge is even tougher for the Vysehrad countries (Czech Republic, Hungary, Poland and Slovakia), which have long been dependent on Russian supplies...

The European renewable energy industry has the potential to be a world leader. This has been achieved within the European region for specific technologies, through a set of policy activities at a national and regional level, driven primarily by employment, energy self-sufficiency and industrial...