Jiri Horak of CEZ discussed the experiences of market liberalisation in Romania and Czech Republic and how the market should accordingly be opened in Bulgaria
Jiri Horak of CEZ discussed the experiences of market liberalisation in Romania and Czech Republic and how the market should accordingly be opened in Bulgaria
This presentation by Ecuador was made during the discussion “Competition for-the-market” held at the 18th meeting of the OECD Global Forum on Competition on 6 December 2019. More papers and presentations on the topic can be found at oe.cd/cmkt.
This presentation presents the key findings of a 12-month project in Romania which aimed at identifying competition-distorting rules and regulations in selected sectors.
Access the report at: oe.cd/1pj. Find out more about the project: http://www.oecd.org/daf/competition/romaniacompetitionassessment.htm
More about the Competition Assessment toolkit at www.oecd.org/competition/toolkit
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www.industre.eu
September 2016 Stakeholders Workshop.
Presentation of business models for industrial demand side management and policy recommendations for the electricity market design.
Can Europe deliver on energy efficiency? Investigating the effectiveness of A...Leonardo ENERGY
Article 7 is a key provision of the European Energy Efficiency Directive which established a set of binding measures to help the EU reach its 20% energy efficiency target by 2020. Each member state has to calculate its own savings target, and demonstrate how it will deliver the target between 2014 and 2020. This webinar introduces the main features of Article 7, shows how member states have implemented it, and discusses the challenge of evaluating its impact given the heterogeneity of policy responses.
The webinar will conclude with a number of options how a revised Article 7 can be simplified and streamlined, how transparency of implementation can be improved and how member states could be supported to deliver energy efficiency more effectively.
How auction design affects the financing of renewable energy projects Leonardo ENERGY
Recording available at https://youtu.be/lPT1o735kOk
Renewable energy auctions might affect the financing of renewable energy (RE) projects. This webinar presents the results of the AURES II project exploring this topic. It discusses how auction designs ranging from bid bonds to penalties and remuneration schemes impact financing and discusses creating a low-risk auction support framework.
Protectionism and local content requirements are holding back investment in clean energy and thus undermining the fight against climate change. This Investment Insights puts forward policy options for mobilising investment in clean energy and restoring order and confidence in international markets.
For more information, visit: http://www.oecd.org/daf/inv/mne/green.htm
These considerations mean that governments inevitably take a broader view when determining road user taxes and those strict efficiency criteria are often not adhered to.
Bangladesh is Riverine County and the water transport is cheaper than road and railway. Bangladesh can encourage river transport with tax balance between user taxes on all modes of transport systems.
This presentation by Ecuador was made during the discussion “Competition for-the-market” held at the 18th meeting of the OECD Global Forum on Competition on 6 December 2019. More papers and presentations on the topic can be found at oe.cd/cmkt.
This presentation presents the key findings of a 12-month project in Romania which aimed at identifying competition-distorting rules and regulations in selected sectors.
Access the report at: oe.cd/1pj. Find out more about the project: http://www.oecd.org/daf/competition/romaniacompetitionassessment.htm
More about the Competition Assessment toolkit at www.oecd.org/competition/toolkit
2016 IndustRE Workshop - 1 business models and policy recommendationsLeonardo ENERGY
www.industre.eu
September 2016 Stakeholders Workshop.
Presentation of business models for industrial demand side management and policy recommendations for the electricity market design.
Can Europe deliver on energy efficiency? Investigating the effectiveness of A...Leonardo ENERGY
Article 7 is a key provision of the European Energy Efficiency Directive which established a set of binding measures to help the EU reach its 20% energy efficiency target by 2020. Each member state has to calculate its own savings target, and demonstrate how it will deliver the target between 2014 and 2020. This webinar introduces the main features of Article 7, shows how member states have implemented it, and discusses the challenge of evaluating its impact given the heterogeneity of policy responses.
The webinar will conclude with a number of options how a revised Article 7 can be simplified and streamlined, how transparency of implementation can be improved and how member states could be supported to deliver energy efficiency more effectively.
How auction design affects the financing of renewable energy projects Leonardo ENERGY
Recording available at https://youtu.be/lPT1o735kOk
Renewable energy auctions might affect the financing of renewable energy (RE) projects. This webinar presents the results of the AURES II project exploring this topic. It discusses how auction designs ranging from bid bonds to penalties and remuneration schemes impact financing and discusses creating a low-risk auction support framework.
Protectionism and local content requirements are holding back investment in clean energy and thus undermining the fight against climate change. This Investment Insights puts forward policy options for mobilising investment in clean energy and restoring order and confidence in international markets.
For more information, visit: http://www.oecd.org/daf/inv/mne/green.htm
These considerations mean that governments inevitably take a broader view when determining road user taxes and those strict efficiency criteria are often not adhered to.
Bangladesh is Riverine County and the water transport is cheaper than road and railway. Bangladesh can encourage river transport with tax balance between user taxes on all modes of transport systems.
Parkiteer - Secure bicycle access at Public Transport nodesScott Martin, CMILT
An evaluation of the Parkiteer secure bicycle parking project as deployed on Melbourne's rail network and the knowledge gained from the first 18 months of Parkiteer operations.
A report on EU electricity market rules, which must reflect the energy generation mix of the future and help usher in a flexible power system with a large-scale uptake of wind power and other renewable energy sources. The report recommends: 1- Creating a level playing field for renewable energy sources by tackling structural market deficits. 2-Creating functioning markets covering larger geographical regions within Europe so as to reduce the need to balance variable renewables like wind and solar 3- Developing intraday and balancing markets at national and cross-border levels 4- Creating new markets for 'grid support services', supporting the functioning of the grid to ensure a secure supply of electricity, instead of introducing market distorting capacity payments.
Collaboration is not an option. Everything is available to everyone. Your business needs strategies for competitive advantage. This presentation helps you to start thinking in the direction.
The 6 market dynamics that determine whether a startup or product opportunity are going to succeed.
More recent thoughts about product/market strategy can be found here:
https://productfolio.com/product-strategy/
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A recording of this presentation can be viewed at:
https://youtu.be/aC0h4cXI9Ug
Does the EU Emission Trading Scheme ETS Promote Energy Efficiency?Leonardo ENERGY
This policy brief analyzes the main interacting mechanisms between the Energy Efficiency Directive (EED) and the EU Emission Trading Scheme (ETS). It presents a detailed top-down approach, based on the ODYSSEE energy indicators, to identify energy savings from the EU ETS.
The main task consists in isolating those factors that contribute to the change in energy consumption of industrial branches covered by the EU ETS, and the energy transformation sector (mainly the electricity sector).
Speaker:
Wolfgang Eichhammer (Head of the Competence Center Energy Policy and Energy Markets @Fraunhofer Institute for Systems and Innovation Research ISI)
The recordings of this webinar can be watched via:
https://youtu.be/TS6PxIvtaKY
BUILDING ON THE PV EXPERIENCE OF EUROPEAN MARKETSpvsinbloom
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PV on the road to competitiveness
This report summarizes the main findings of a standardized flexibility tracker analysis for the case of Germany. The present status of flexibility resources potential and implementations are highlighted, as well as comparisons with other systems and recommendations for further work.
The results confirm the advanced stage of the German wholesale markets and shows that efforts regarding energy efficiency as well as the development of storage are heading to the right direction. While flexibility in retail markets, the development of small-scale demand side flexibility and sector coupling are areas where Germany could learn from its neighbours.
The graph also shows that the three neighbouring countries are at similar medium levels regarding their power system flexibility overall and also face similar challenges in the further integration of variable renewables. Regional cooperation such as the Pentalateral Energy Forum and the “twelve electricity neighbours” are a promising way to learn from each other and further harmonise the electricity markets and should be expanded.
Responding To Continual Energy Market ChangeCTRM Center
The European power and gas industry is currently going through a period of very rapid change that has potentially far reaching consequences. While change is certainly no stranger to the industry, it requires players in the industry to constantly re-evaluate their business process and technology infrastructures in order to adapt and thrive.
Carsten Rolle, Executive Director WEC Germany WEC Italia
Slides presentate in occasione del Seminario "The Energy transition in Europe: different pathways, same destination? organizzato da Edison in collaborazione con WEC Italia il 29 maggio 2013 a Roma - TWITTER #NRGstrategy
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An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Macroeconomics- Movie Location
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Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
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Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Biological screening of herbal drugs: Introduction and Need for
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Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
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Market Consolidation and Integration in Network Industries: Electricity Markets
1. Market consolidation &
integration in network industries
Electricity Markets
Bert Willems
Department of Economics - Tilburg University
CERRE Expert Workshop, Brussels, October 24, 2013
23 October 2013
1
2. Overview
Objective
Academic viewpoint on integration
of European electricity generation and transmission markets
Three positive effects
♦ Price convergence
♦ Cost reductions
♦ Increased competition
Three problem areas
♦ National support schemes for renewable energy
♦ National capacity markets
♦ Future investments in transmission
23 October 2013
Market Integration and Consolidation
2
3. Market integration
In order to integrate the electricity market the Commission mainly
focused on transmission access
♦ Energy directives (1996-) imposed unbundling of transmission
networks to ensure non-discriminatory network access
Commission relied on subsidiarity principle and directives
Practical implementation was left mainly to member states
♦ Goal ≠ full integration of markets as e.g. in PJM, USA
• Harmonization of market rules / products traded
• Single network operator
• Price zones determined by congestion
♦ Some bottom-up harmonization (e.g. Nordic countries)
23 October 2013
Market Integration and Consolidation
3
4. Market integration
Very slow progress on allocation of cross-border capacity
♦ Florence Forum (1998-2012) design by stakeholders
♦ Mini-fora (2004-2005) regional cooperation
♦ Creation of ACER (2011) Agency for cooperation of regulators
Progress nonetheless
1. Market-based allocations instead of rationing
Firms can buy transmission capacity in auction
Owners decide using capacity before electricity prices are known
Inefficient use of capacity (wrong direction, not at full capacity)
2. Market-coupling
Regional power exchanges and network operator cooperate
Arbitrage is ‘institutionalized’ Network is used more efficiently
23 October 2013
Market Integration and Consolidation
4
5. Market integration
Mini-fora Set of regional markets
Acer, 2012
23 October 2013
Market Integration and Consolidation
5
8. Extra Slide
Integration effect: 1. Prices converge
Reason for inefficient use of transmission capacity before marketcoupling
♦ Badly designed markets (timing, uncertainty, information)
♦ Firms leave money on table
• Mainly larger firms?
Bunn, D., Zachmann, G., 2010. J Regul Econ
• Lack of information does not explain all?
Gebhardt, G., Hoeffler, F., 2013. Energy Journal
23 October 2013
Market Integration and Consolidation
8
9. Integration effect: 2. Arbitrage on cost differences
Network transports energy from low cost to high cost area
= increase in total surplus
Reasons
♦ Different generation technologies (gas / coal / nuclear)
♦ Natural storage possibilities (hydro)
♦ Weather (heating, wind input, snow melting)
Short-term arbitrage benefits of full market coupling
♦ Relatively easy to estimate (price data available)
♦ 2.5bn-6bn EUR/year
♦ 60% of which is achieved already now
Source: Booz & Company, et al. 2013. Report for EC.
23 October 2013
Market Integration and Consolidation
9
10. Integration effect: 3. Increase competition
Transmission capacity has increased competition
Example of Netherlands
♦ Import capacity grew from 3.9 GW (2006) to 5.6 GW (2011)
♦ Market coupling (2006)
Reduced pivotality of firms (which is correlated with Lerner Index).
Mulder, M., Schoonbeek, L., 2013. Energy Economics
But, hard to pinpoint competition effect of integration
econometrically (economic crisis, many changes in market)
Competition
♦ Increases production efficiency (Short Run)
♦ Gives better investment incentives (Long Run) likely largest effect
23 October 2013
Market Integration and Consolidation
10
11. Integration effect: 3. Increase competition
Also horizontal market concentration within countries decreased
(especially in Italy, Spain)
1/HHI
(eq. # of equally sized firms)
# firms, installed capacity >5%
12
12
11
11
France
10 France
10
9
9 Germany
Germany
8
United Kingdom
4
8 United Kingdom
7
Italy
6
Spain
5
4 Belgium
3
3 Netherlands
2
2
1
1
7
6
5
Italy
Spain
Belgium
Netherlands
0
0
2004
2006
2007
2008
2009
2010
2006
2007
2008
2009
2010
Benchmarking reports 2004-2010, Energy markets in the European Union 2011
23 October 2013
Market Integration and Consolidation
11
12. Integration effect: 3. Increase competition
But competition effects might be partially offset by vertical mergers
(electricity & gas) and international mergers
Number of mergers
International
Large EU energy mergers
Important vertical effects
National
♦
♦
♦
♦
EDP/ENI/GDP (P/I) 2004
E.ON/MOL (D/H) 2005
DONG/ELSAM/E2(DK) 2006
GDF/Suez (F/B) 2006
Mainly horizontal effects
♦ RWE/Essent (D/NL) 2009
♦ Vattenfall/Nuon (S/NL) 2009
♦ EDF/Segebel(F/B) 2009
Petz, M. 2012 (PhD thesis).
Federico, G., 2011. J of Comp. L&E
Economic assessment of consolidation strategies requires evaluation of
economies of scope & scale
23 October 2013
Market Integration and Consolidation
12
14. Problem 1:
Support schemes for renewable energy are national
CO2 cap and trade mechanism is broken
♦ Prices are too low and unpredictable
♦ No incentives for renewable energy / energy savings
♦ Coal-fired power plants are cheaper than gas
National renewable energy support schemes
♦ Feed-in tariffs or certificate systems
♦ Large role of government
• Risk taken up by government
• Technology specific
• Priority access for renewable energy: sometimes hidden subsidies
♦ Large fraction of production does no longer participate in market
♦ No trade of support schemes across borders by firms
23 October 2013
Market Integration and Consolidation
14
15. Problem 1:
Support schemes for renewable energy are national
Huge benefits for allowing international trade in renewable energy
support schemes
♦ 40%-70% savings Fürsch, M. et al. 2010, Aune at al. 2012
♦ 15-30 bn €/yr Booz & Company, et al. 2013
We could also rely more on Cap-and-trade system
♦ Increase government revenue with 43 bn€/yr Tasios, N. 2013 + own estimate
But results have been criticized Ragwitz, et.al.,2011 (Re-shaping)
♦
♦
♦
♦
Non-economic barriers
Learning by doing requires technology specificity
Directive 2009/28/EC already allows trade among member states
Redistributive aspects (rents for producers)
Harmonization & coordination on EU level might be necessary
♦ Use right instrument for each externality
♦ E.g. Learning by doing is international International instrument
23 October 2013
Market Integration and Consolidation
15
16. Problem 2:
Capacity markets are national
Many existing power plants are not profitable
♦ Low demand due to economic crisis
♦ Too low CO2 prices (gas-fired power plants close)
♦ Additional supply by renewable energy
Governments use capacity markets to support firms, ensure
sufficient flexible generation
♦ Often national in scope (only national generation / different
products)
♦ Distorting investment decisions (long term)
♦ Distorts trade patterns
♦ Might create hold-up problems (waiting for subsidies)
Long run cost of national security targets 3-7.5 bn/yr
(Booz & Company, et
al. 2013 )
23 October 2013
Market Integration and Consolidation
16
17. Problem 2:
Capacity markets are national
If capacity markets are implemented
♦ Clearly define the product (with specified obligations for bidders)
♦ Allow international trade
♦ Combination of financial and physical incentives
Harmonization necessary at EU-level
♦ Minimal requirements?
♦ Standardization of products?
♦ Cooperation on transmission capacity?
23 October 2013
Market Integration and Consolidation
17
18. Problem 3:
Transmission Investments
Investments in one country has benefits/costs in other countries
♦ A good long-term compensation scheme does not exist
♦ Investment needs = 5 bn €/yr (ENTSO-E, 2012, Development plan)
♦ If only 50% invested: total system cost increase 3-5 bn €/yr
(Booz & Company, et al. 2013 )
♦ High return
Coordination of transmission and generation investment is a
problem
♦ Future investments will be situated further from demand centers
(e.g. renewable energy)
Requires closer cooperation of network operators and power
exchanges and further integration
♦ Long run benefit of full market integration 12.5-40 bn€/yr (Booz &
Company, et al. 2013 )
Long term financial transmission rights & more price regions
23 October 2013
Market Integration and Consolidation
18
20. Summary
Current situation: (international) competition & integration
Time Dimension
Investments
Contracts
Day-ahead
market
Balancing &
Reserve markets
RES
• Technology
specific subsidies
• Connection
guarantee
National
Feed-InTariffs
No
participation
No participation
NonRES
• Policy uncertainty
transmission
• Wrong CO2 price
• Technology
specific capacity
markets?
National
capacity
market
+
Private
contracts
Market
Coupling
Still national, but
changing
Regional
Pan European
20