Electricity Reform In Europe - Towards a Single Energy Market

The realisation of a European internal market for energy is still a work in progress. Written by leading European scholars and discussed with major energy stakeholders, this book presents a thorough analysis of the motives and methods needed to achieve a single European energy market. The authors discuss the critical issues surrounding an internal European energy market including: market design, competition and market power, sustainable energy versus the market, regulation and harmonisation, benchmarking and indicators, modelling of competition, market prices and energy forecasts. They provide a multi-disciplinary assessment of the ‘best way’ to build the market base of a future European energy policy. Electricity Reform in Europe will be of great interest to decision makers and managers in the energy industry or business sector as they will be able to see the whole European energy policy ‘picture’ beyond their own corporate interests. The book will also appeal to national and European energy administrations, regulatory bodies and policy makers providing a synthesis of all relevant policy issues.

Contents: Foreword: US vs EU Electricity Reforms Achievement Paul L. Joskow PART I: PROPOSALS FOR ACHIEVING THE EUROPEAN UNION ELECTRICITY MARKET BY 2009 1. The Electricity Internal Market in the European Union: What to do Next? Jean-Michel Glachant and François Lévêque PART II: ASSESSMENT OF CORE ISSUES IN THE MAKING OF THE EUROPEAN UNION ELECTRICITY MARKET 2. Refining Market Design David Newbery 3. Addressing Market Power and Industry Restructuring Lars Bergman 4. Harmonizing an Effective Regulation in Europe Einar Hope and Balbir Singh 5. Ensuring EU Enlargement to New Member States Christian Von Hirchhausen and Georg Zachmann 6. Investing for Sustainability Ignacio Pérez-Arriaga and Julián Barquín 7. Policy Assessment and Good Practices Richard Green, Arturo Lorenzoni, Yannick Pérez and Michael Pollitt PART III: IN-DEPTH STUDIES OF THREE CHALLENGES FOR THE EUROPEAN UNION ELECTRICITY MARKET (MEASURING MARKET POWER, CONVERGENCE OF WHOLESALE PRICES AND ENERGY POLICY) 8. How Well Can One Measure Market Power in Restructured Electricity Systems? Yves Smeers 9. The EU Integration of the New Member States’ Electricity Markets – Testing for Wholesale Price Convergence Using the Kalman Filter Georg Zachmann 10. Long-Term Scenarios for the Strategic Energy Policy of the EU Pantelis Capros and Leonidas Mantzos Postface: Design and Regulation of EU Energy Markets – Between Competition Policy and Common Energy Policy Jorge Vasconcelos Index