Energy Markets - Investment, Competition, and Regulation
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Energy Markets - Investment, Competition, and Regulation
Editors: Franz, Wolfgang | Winkelmann, Rainer | Zimmermann, Klaus F.
Applied Economics Quarterly. Supplements, Vol. 58
(2007)
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This supplement to Applied Economics Quarterly reports on the 70th Annual Meeting of the Association of German Economic Research Institutes (ARGE-Institute), which took place in Berlin on April 19, 2007. The topic was "Energy Markets - Investment, Competition, and Regulation."Energy markets pose a major challenge for the economy, politics, and society: the entire structure of power generation is on the verge of a fundamental renewal. By dealing with the important current question of how regulation will affect investments in generation and transmission capacities within liberalized electricity and gas markets, the conference offered useful contributions for policy advice to the federal government. Keynote speaker Carl Christian von Weizsäcker discussed investments in energy markets, while Jean Michel Glachant, the second keynote speaker, considered the choice between a "Vibrant European Market and Industry or a Bunch of National Energy Champions." The other lectures focused on alternative strategies for renewable energies, biofuels as a climate policy strategy, as well as innovation, competition, and asymmetric strategic investment.From the editorial by Wolfgang Franz / Rainer Winkelmann / Klaus F. Zimmermann
Table of Contents
| Section Title | Page | Action | Price |
|---|---|---|---|
| Editorial | 5 | ||
| Contents | 7 | ||
| Christoph Böhringer, Tim Hoffmann, and Thomas F. Rutherford: Alternative Strategies for Promoting Renewable Energy in EU Electricity Markets | 9 | ||
| Abstract | 9 | ||
| 1. Introduction | 9 | ||
| 2. Policy Background: Promoting Renewables in Europe | 11 | ||
| 3. Numerical Framework | 13 | ||
| 3.1 Model Summary | 13 | ||
| 3.2 Parameterization | 15 | ||
| 4. Policy Scenarios and Results | 16 | ||
| 4.1 Policy Scenarios | 16 | ||
| 4.2 Simulation Results | 17 | ||
| 5. Conclusions | 20 | ||
| References | 20 | ||
| Appendix: Algebraic Model Description | 22 | ||
| Christian von Hirschhausen: Alternative Strategies for Promoting Renewable Energy in EU Electricity Markets. Comment | 27 | ||
| 1. Main Arguments of the Paper | 27 | ||
| 2. Questions about the Paper | 28 | ||
| 3. General Questions on Renewable Deployment | 29 | ||
| References | 29 | ||
| Gernot Klepper: Biofuels and Climate Policy | 31 | ||
| 1. Introduction | 31 | ||
| 2. The Context for Assessing Biofuels as a Part of Climate Policy | 32 | ||
| 3. The Market for Biofuels | 34 | ||
| 4. Government Support for Biofuels | 36 | ||
| 5. How Much Contribute Biofuels to Climate Protection? | 38 | ||
| 6. Policy Options for Biofuel and Bioenergy Policies | 42 | ||
| References | 45 | ||
| Hans-Dieter Karl: Investments of the German Electricity-Supply Industry | 47 | ||
| Abstract | 47 | ||
| 1. Features of Electricity Investments | 47 | ||
| 2. The Development of the Electricity Sector in Germany | 48 | ||
| 3. Conditions for Electricity-Sector Investments | 52 | ||
| 4. Electricity Supply Investments to 2025 | 55 | ||
| 5. Effects of the Alterations of the Electricity Supply | 56 | ||
| References | 59 | ||
| Ingo Ellersdorfer, Stephan Kempe, Uwe Remme, Markus Blesl, Ulrich Fahl, and Alfred Voß: Investments of the German Electricity-Supply Industry. Comment | 61 | ||
| Abstract | 61 | ||
| 1. Background | 61 | ||
| 2. Model | 62 | ||
| 3. Scenarios | 63 | ||
| 4. Conclusions | 67 | ||
| References | 68 | ||
| Reinhard Madlener and Pio Baake: Asymmetric Strategic Investment Behavior in Network Industries: the Case of Natural Gas Distribution in Norway | 69 | ||
| Abstract | 69 | ||
| 1. Introduction | 69 | ||
| 2. Competing Natural Gas Distribution Systems as a Case Study | 71 | ||
| 2.1 General Considerations About Pipeline vs. LNG Supply Systems | 71 | ||
| 2.2 Retail LNG Distribution in Norway | 72 | ||
| 3. Dynamic Strategic Optimization Model | 73 | ||
| 3.1 Basic Model Set-up | 73 | ||
| 3.2 Optimal Investment and Network Expansion | 75 | ||
| 3.2.1 Consumer-related Infrastructure | 75 | ||
| 3.2.2 Distribution Infrastructure | 76 | ||
| 3.3 Illustrative Example | 77 | ||
| 4. Discussion and Conclusions | 79 | ||
| 5. Acknowledgements | 80 | ||
| References | 80 | ||
| Till Requate: Asymmetric Strategic Investment Behavior in Network Industries: the Case of Natural Gas Distribution in Norway. Comment | 83 | ||
| Franziska Holz: How Dominant is Russia on the European Natural Gas Market? Results from Modeling Exercises | 85 | ||
| Abstract | 85 | ||
| 1. Introduction | 85 | ||
| 2. Where Do We Stand – Quantifying Russian Exports to Europe | 86 | ||
| 3. A Market Power Model of the European Natural Gas Market | 87 | ||
| 3.1 GASMOD Model Description | 87 | ||
| 3.2 Data | 89 | ||
| 4. Which Market Share for Russia Today and in the Future? | 91 | ||
| 4.1 Alternative Market Scenarios | 91 | ||
| 4.2 Russian Exports to Europe until 2025 | 93 | ||
| 5. Russian Exports to Liberalized European Markets | 96 | ||
| 6. Conclusions | 99 | ||
| References | 100 | ||
| Ulf Moslener: How Dominant is Russia on the European Natural Gas Market? Comment | 103 | ||
| 1. A Topical Issue | 103 | ||
| 2. The Modeling Framework | 104 | ||
| 3. Useful Insights | 104 | ||
| 4. A Difficult Question | 106 | ||
| Participants | 107 |