Elektrische Energie ist nur unter erheblichem technischen und oekonomischen Aufwand zu speichern. Nichtsdestotrotz muss fuer eine zuverlaessige Versorgung der Gesellschaft mit elektrischer Energie ein staendiges Gleichgewicht von Angebot und Nachfrage gewaehrleistet werden koennen. Aus diesem...

Four years after the gas supply crisis of January 2009, this paper looks at the market and policy changes that have changed the European gas situation, and their implications in terms of security of supply. Several positive developments are identified, including the byapssing of Ukraine by...

Im Januar 2009 war der Transport russischen Erdgases über das Pipelinesystem der Ukraine für knapp zwei Wochen unterbrochen. Vor allem einige Länder in Südosteuropa waren darauf schlecht vorbereitet. Aktuell ist der Streit um die Bezahlung von Erdgaslieferungen und Transitrechten zwischen...

In January 2009, the supply of natural gas from Russia via the Ukrainian pipeline system was interrupted for nearly two weeks. Particularly the countries in Southeastern Europe were ill-prepared for such an event. Disputes regarding both the payment of natural gas supplies and transit rights...

The present dynamic security environment forced organizations or countries to radically restructure their objectives and strategies. In the last years, the European Union energy strategy has been in the process of a profound objectives transformation. The paper deals with the problem of the...

The main purpose of this paper is to preview the other contributions to this volume of the EIB Papers. In this context, it offers a few additional perspectives. One highlights why energy issues have re-emerged as a matter of policy interest. Another concerns the difference between the...

The paper critiques current European energy policy. The key market failures are identified and the reasons for intervention set out. In addition to the traditional concerns with monopoly and market failures, the public goods aspects of diversity and security of supply, together with...

Countries thus far realise their energy security predominantly with energy policies (e.g., diversifying the energy mix and suppliers) and their energy security risk instruments mostly address the risk of shortterm supply disruptions. Lack of commercially viable sustainable energies and a renewed...

In 2002/2003, the Nordic hydro-dominated power market faced a short-term supply shock. In autumn, precipitation and inflow were unusually low. As a result, there were record high prices in the following winter. Questions were raised whether the deregulated market creates sufficient incentives to...

Uncertainties as to future supply costs of nonrenewable natural resources, such as oil and gas, raise the issue of the choice of supply sources. In a perfectly deterministic world, an efficient use of multiple sources of supply requires that any given market exhausts the supply it can draw from...