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Electricity Market Design for Germany

Yıl 2010, Cilt: 12 Sayı: 12, - , 01.09.2010

Öz

Germany has two ambitious goals: It wants to generate 20% of its electricity from renewable sources by 2020; and it wants to reach its nuclear phase-out target by 2021, according to the Atomic Energy Law of 2002. To be successful, it needs a strong transmission network that connects the offshore wind parks at the North and Baltic Sea with regions of high population and industry densities. At the same time it has to be keeping its generation capacity at a high enough level. This paper describes recent reforms in the electricity sector and makes suggestions on how to improve the current state of market performance in the industry.

Kaynakça

  • Allaz, B. and J. Villa (1993), “Cournot Competition, Forward Markets and Efficiency”, Journal of Economic Theory, 59, 1-16.
  • Baldick, R. and E. Kahn (1993), “Network costs and the regulation of wholesale competition in electric power”, Journal of Regulatory Economics, 5, 367-384.
  • Borenstein, S. (2000), “The Trouble with Electricity Markets: Understanding California’s Restructuring Disaster,” Journal of Economic Perspectives, 16(1), 191-211.
  • Borenstein, S., J. Bushnell and F. Wolak (2002), “Measuring Market Inefficiencies in California’s Restructured Wholesale Electricity Market”, American Economic Review, 92(5), 1376-1404.
  • Buehler, S., A. Schmutzler and M-A. Benz (2004), “Infrastructure Quality in Deregulated Industries: Is there an Underinvestment Problem?”, International Journal of Industrial Organization, 22( 2), 253-267.
  • Brunekreeft, G. and K. Keller (2000): “The Electricity Supply Industry in Germany; Market Power or Power of the Market?”, Utilities Policy, 9(1), 15-29.
  • Brunekreeft, G. (2008), “Ownership Unbuilding in Electricity Markets - A Social Cost Benefit Analysis of the German TSO’S,” Cambridge Working Papers in Economics 0833, Faculty of Economics, University of Cambridge.
  • Brunekreeft, G. and T. McDaniel (2005), “Policy Uncertainty and Supply Adequacy in Electric Power Markets”, Oxford Review of Economic Policy, 21(1), 111-127.
  • Borenstein, S. and S. Holland (2007), “On the Efficiency of Competitive Electricity Markets with Time-invariant Retail Prices”, RAND Journal of Economics, 36(3), 469-493.
  • Cramton, P. and S. Stoft (2008), “Forward Reliability Markets: less risk, less market power, more efficiency”, Utilities Policy, 16, 194-201.
  • Cremer, H., J. Crémer, and P. De Donder (2006), “Legal vs. Ownership Unbundling in Network Industries”, CEPR Working Paper No. 5767.
  • DENA (2005), “Planning of the Grid Integration of Wind Energy in Germany Onshore and Offshore up to the Year 2020”, Deutsche Energie-Agentur, Berlin March 2005.
  • DENA (2008), “Kurzanalyse der Kraftwerks- und Netzplanung in Deutschland 2020”, Deutsche Energie-Agentur, Berlin, March 2008.
  • The Economist (2009), “Technology Quarterly: Building the smart grid”, 13-15, June 6.
  • Finon, D. and F. Roques, (2008), “Financing arrangements and industrial organisation for new nuclear build in electricity markets”, Cambridge Working Papers in Economics 0850, Faculty of Economics, University of Cambridge.
  • Hogan, W. (2005), “On an ‘Energy-Only’ electricity market design for resource adequacy”, paper presented for the Californian ISO, September 27.
  • Joskow, P. and R. Schmalensee, (1986), Markets for Power, MIT Press.
  • Joskow, P. (2001), “California’s Electricity Crisis”, Oxford Review of Economic
  • Policy, 17, 365-388.
  • Joskow, P. (2006), “Markets for power in the United States: an interim assessment”, The Energy Journal, 27(1), 1-36.
  • Joskow, P. (2007), “Competitive electricity markets and investment in new generating capacity”, in Helm, D. (ed.), The New Energy Paradigm, Oxford University Press.
  • Joskow, P. and J. Tirole (2006), “Retail Electricity Competition“, RAND Journal of Economics, 37, 799-815.
  • Joskow, P. and J. Tirole (2000), “Transmission Rights and Market Power on Electric Power Networks”. The Rand Journal of Economics, 31, 450-487.
  • Joskow, P. and J. Tirole (2007), “Reliability and Competitive Electricity Markets”, RAND Journal of Economics, 38(1), 60-84.
  • Kreps, D. and J. Scheinkman (1983), “Quantity precommitment and Bertrand competition yield Cournot outcomes”, Bell Journal of Economics, 14(2), 326-337.
  • Kwoka, J. (2002), “Vertical economies in electric power: evidence on integration and its alternatives”, International Journal of Industrial Organization, 20(5), 653-671.
  • Mansur, E. (2005), “Measuring Welfare in Restructured Electricity Markets” (Yale, mimeo).
  • Mansur, E. (2007), “Upstream Competition and Vertical Integration in Electricity Markets”, Journal of Law and Economics, 50, 125-156.
  • Michaels, R. (2006), “Vertical Integration and the Restructuring of the US Electricity Industry”, Policy Analysis, CATO Institute, No. 572, 1-30.
  • Mulder, M. and V. Shestalova (2006), “Costs and benefits of vertical separation of the energy distribution industry: the Dutch case”, Competition and Regulation in Network Industries, 1(2), 197-230.
  • Müsgens, F. (2006), “Quantifying market power in the German wholesale electricity market using a dynamic multi-regional dispatch model,” Journal of Industrial Economics, 54(4), 471-498.
  • Neuhoff, K. and L. De Vries (2004), “Insufficient incentives for investment in electricity generations”, Utilities Policy, 12(4), 253-267.
  • Newbery, D. and M. Pollitt (1997), “The restructuring and privatization of the CEGB — Was it worth it?”, Journal of Industrial Economics, 45(3), 269-303.
  • Ockenfels, A., V. Grimm and G. Zoettl (2008), “Electricity Market Design, the Pricing Mechanism of the Day Ahead Electricity Spot Market Auction on the EEX”, for submission to the Saxon Exchange Supervisory Authority, March 2008.
  • Oren, S. (2005), “Generation adequacy via call option obligations: safe passage to the promised land”, Working Paper University of California Energy Institute, September 2005.
  • Pollitt, M. (2007), “The arguments for and against ownership unbundling of energy transmission networks”, Energy Policy, 36, 704-713.
  • Rommel, K. and J. Meyerhoff (2009), “Empirische Analyse des Wechselverhaltens Stromkunden. Was hält Stromkunden zu Ökostromanbieternzu wechseln" Zeitschrift für Energiewirtschaft, 33(1).
  • Roques, F. (2008), “Market design for generation adequacy: Healing causes rather than symptoms”, Utilities Policy, 16, 171-183.
  • Singh, H. (2000), “Call options for energy: a market-based alternative to ICAP” mimeo, October.
  • Tönjes, C. (2005), “Ownership unbundling of energy distribution companies in the Netherlands”, Briefing Paper for the Clingendael International Energy Programme (CIEP).
  • Scholz, S. (2009), “Forward contracting under the presence of bankruptcy risk”, Working Paper Munich, mimeo.
  • Steiner, F. (2001), “Regulation industry structure and performance in the electricity supply industry”, OECD Economic Studies, 32, 143-182.
  • UCTE (2007), “UCTE System Adequacy Forecast”, Report.
  • Stoft, S. (2002), Power System Economics, Wiley & Sons.
  • Vázquez, C., M. Rivier, and I. Pérez-Arriaga (2002), “A Market Approach to Long-Term Security of Supply”, IEEE Transactions on Power Systems, 17(2).
  • Wissenschaftliches Institut für Infrastruktur und Kommunikationsdienste (WIK) (2008), “Effizienz und Stabilität des Stromgroßhandelsmarktes in Deutschland —Analyse und wirtschaftspolitische Implikationen“,WIK, No. 317, Bad Honnef, December 2008.
  • Wolak, F. (2004), “What’s wrong with capacity markets“, mimeo, June.
  • Wolfram, C. (1999), “Measuring Duopoly Power in the British Electricity Spot Market”, American Economic Review, 89(4), 805-826.

Electricity Market Design for Germany

Yıl 2010, Cilt: 12 Sayı: 12, - , 01.09.2010

Öz

Germany has two ambitious goals: It wants to generate 20% of its electricity from renewable sources by 2020; and it wants to reach its nuclear phase-out target by 2021, according to the Atomic Energy Law of 2002. To be successful, it needs a strong transmission network that connects the offshore wind parks at the North and Baltic Sea with regions of high population and industry densities. At the same time it has to be keeping its generation capacity at a high enough level. This paper describes recent reforms in the electricity sector and makes suggestions on how to improve the current state of market performance in the industry.

Kaynakça

  • Allaz, B. and J. Villa (1993), “Cournot Competition, Forward Markets and Efficiency”, Journal of Economic Theory, 59, 1-16.
  • Baldick, R. and E. Kahn (1993), “Network costs and the regulation of wholesale competition in electric power”, Journal of Regulatory Economics, 5, 367-384.
  • Borenstein, S. (2000), “The Trouble with Electricity Markets: Understanding California’s Restructuring Disaster,” Journal of Economic Perspectives, 16(1), 191-211.
  • Borenstein, S., J. Bushnell and F. Wolak (2002), “Measuring Market Inefficiencies in California’s Restructured Wholesale Electricity Market”, American Economic Review, 92(5), 1376-1404.
  • Buehler, S., A. Schmutzler and M-A. Benz (2004), “Infrastructure Quality in Deregulated Industries: Is there an Underinvestment Problem?”, International Journal of Industrial Organization, 22( 2), 253-267.
  • Brunekreeft, G. and K. Keller (2000): “The Electricity Supply Industry in Germany; Market Power or Power of the Market?”, Utilities Policy, 9(1), 15-29.
  • Brunekreeft, G. (2008), “Ownership Unbuilding in Electricity Markets - A Social Cost Benefit Analysis of the German TSO’S,” Cambridge Working Papers in Economics 0833, Faculty of Economics, University of Cambridge.
  • Brunekreeft, G. and T. McDaniel (2005), “Policy Uncertainty and Supply Adequacy in Electric Power Markets”, Oxford Review of Economic Policy, 21(1), 111-127.
  • Borenstein, S. and S. Holland (2007), “On the Efficiency of Competitive Electricity Markets with Time-invariant Retail Prices”, RAND Journal of Economics, 36(3), 469-493.
  • Cramton, P. and S. Stoft (2008), “Forward Reliability Markets: less risk, less market power, more efficiency”, Utilities Policy, 16, 194-201.
  • Cremer, H., J. Crémer, and P. De Donder (2006), “Legal vs. Ownership Unbundling in Network Industries”, CEPR Working Paper No. 5767.
  • DENA (2005), “Planning of the Grid Integration of Wind Energy in Germany Onshore and Offshore up to the Year 2020”, Deutsche Energie-Agentur, Berlin March 2005.
  • DENA (2008), “Kurzanalyse der Kraftwerks- und Netzplanung in Deutschland 2020”, Deutsche Energie-Agentur, Berlin, March 2008.
  • The Economist (2009), “Technology Quarterly: Building the smart grid”, 13-15, June 6.
  • Finon, D. and F. Roques, (2008), “Financing arrangements and industrial organisation for new nuclear build in electricity markets”, Cambridge Working Papers in Economics 0850, Faculty of Economics, University of Cambridge.
  • Hogan, W. (2005), “On an ‘Energy-Only’ electricity market design for resource adequacy”, paper presented for the Californian ISO, September 27.
  • Joskow, P. and R. Schmalensee, (1986), Markets for Power, MIT Press.
  • Joskow, P. (2001), “California’s Electricity Crisis”, Oxford Review of Economic
  • Policy, 17, 365-388.
  • Joskow, P. (2006), “Markets for power in the United States: an interim assessment”, The Energy Journal, 27(1), 1-36.
  • Joskow, P. (2007), “Competitive electricity markets and investment in new generating capacity”, in Helm, D. (ed.), The New Energy Paradigm, Oxford University Press.
  • Joskow, P. and J. Tirole (2006), “Retail Electricity Competition“, RAND Journal of Economics, 37, 799-815.
  • Joskow, P. and J. Tirole (2000), “Transmission Rights and Market Power on Electric Power Networks”. The Rand Journal of Economics, 31, 450-487.
  • Joskow, P. and J. Tirole (2007), “Reliability and Competitive Electricity Markets”, RAND Journal of Economics, 38(1), 60-84.
  • Kreps, D. and J. Scheinkman (1983), “Quantity precommitment and Bertrand competition yield Cournot outcomes”, Bell Journal of Economics, 14(2), 326-337.
  • Kwoka, J. (2002), “Vertical economies in electric power: evidence on integration and its alternatives”, International Journal of Industrial Organization, 20(5), 653-671.
  • Mansur, E. (2005), “Measuring Welfare in Restructured Electricity Markets” (Yale, mimeo).
  • Mansur, E. (2007), “Upstream Competition and Vertical Integration in Electricity Markets”, Journal of Law and Economics, 50, 125-156.
  • Michaels, R. (2006), “Vertical Integration and the Restructuring of the US Electricity Industry”, Policy Analysis, CATO Institute, No. 572, 1-30.
  • Mulder, M. and V. Shestalova (2006), “Costs and benefits of vertical separation of the energy distribution industry: the Dutch case”, Competition and Regulation in Network Industries, 1(2), 197-230.
  • Müsgens, F. (2006), “Quantifying market power in the German wholesale electricity market using a dynamic multi-regional dispatch model,” Journal of Industrial Economics, 54(4), 471-498.
  • Neuhoff, K. and L. De Vries (2004), “Insufficient incentives for investment in electricity generations”, Utilities Policy, 12(4), 253-267.
  • Newbery, D. and M. Pollitt (1997), “The restructuring and privatization of the CEGB — Was it worth it?”, Journal of Industrial Economics, 45(3), 269-303.
  • Ockenfels, A., V. Grimm and G. Zoettl (2008), “Electricity Market Design, the Pricing Mechanism of the Day Ahead Electricity Spot Market Auction on the EEX”, for submission to the Saxon Exchange Supervisory Authority, March 2008.
  • Oren, S. (2005), “Generation adequacy via call option obligations: safe passage to the promised land”, Working Paper University of California Energy Institute, September 2005.
  • Pollitt, M. (2007), “The arguments for and against ownership unbundling of energy transmission networks”, Energy Policy, 36, 704-713.
  • Rommel, K. and J. Meyerhoff (2009), “Empirische Analyse des Wechselverhaltens Stromkunden. Was hält Stromkunden zu Ökostromanbieternzu wechseln" Zeitschrift für Energiewirtschaft, 33(1).
  • Roques, F. (2008), “Market design for generation adequacy: Healing causes rather than symptoms”, Utilities Policy, 16, 171-183.
  • Singh, H. (2000), “Call options for energy: a market-based alternative to ICAP” mimeo, October.
  • Tönjes, C. (2005), “Ownership unbundling of energy distribution companies in the Netherlands”, Briefing Paper for the Clingendael International Energy Programme (CIEP).
  • Scholz, S. (2009), “Forward contracting under the presence of bankruptcy risk”, Working Paper Munich, mimeo.
  • Steiner, F. (2001), “Regulation industry structure and performance in the electricity supply industry”, OECD Economic Studies, 32, 143-182.
  • UCTE (2007), “UCTE System Adequacy Forecast”, Report.
  • Stoft, S. (2002), Power System Economics, Wiley & Sons.
  • Vázquez, C., M. Rivier, and I. Pérez-Arriaga (2002), “A Market Approach to Long-Term Security of Supply”, IEEE Transactions on Power Systems, 17(2).
  • Wissenschaftliches Institut für Infrastruktur und Kommunikationsdienste (WIK) (2008), “Effizienz und Stabilität des Stromgroßhandelsmarktes in Deutschland —Analyse und wirtschaftspolitische Implikationen“,WIK, No. 317, Bad Honnef, December 2008.
  • Wolak, F. (2004), “What’s wrong with capacity markets“, mimeo, June.
  • Wolfram, C. (1999), “Measuring Duopoly Power in the British Electricity Spot Market”, American Economic Review, 89(4), 805-826.
Toplam 48 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Bölüm Makaleler
Yazarlar

Ray Rees

Sebastian Scholz

Yayımlanma Tarihi 1 Eylül 2010
Gönderilme Tarihi 12 Aralık 2014
Yayımlandığı Sayı Yıl 2010 Cilt: 12 Sayı: 12

Kaynak Göster

APA Rees, R., & Scholz, S. (2010). Electricity Market Design for Germany. Sosyoekonomi, 12(12). https://doi.org/10.17233/se.18007
AMA Rees R, Scholz S. Electricity Market Design for Germany. Sosyoekonomi. Haziran 2010;12(12). doi:10.17233/se.18007
Chicago Rees, Ray, ve Sebastian Scholz. “Electricity Market Design for Germany”. Sosyoekonomi 12, sy. 12 (Haziran 2010). https://doi.org/10.17233/se.18007.
EndNote Rees R, Scholz S (01 Haziran 2010) Electricity Market Design for Germany. Sosyoekonomi 12 12
IEEE R. Rees ve S. Scholz, “Electricity Market Design for Germany”, Sosyoekonomi, c. 12, sy. 12, 2010, doi: 10.17233/se.18007.
ISNAD Rees, Ray - Scholz, Sebastian. “Electricity Market Design for Germany”. Sosyoekonomi 12/12 (Haziran 2010). https://doi.org/10.17233/se.18007.
JAMA Rees R, Scholz S. Electricity Market Design for Germany. Sosyoekonomi. 2010;12. doi:10.17233/se.18007.
MLA Rees, Ray ve Sebastian Scholz. “Electricity Market Design for Germany”. Sosyoekonomi, c. 12, sy. 12, 2010, doi:10.17233/se.18007.
Vancouver Rees R, Scholz S. Electricity Market Design for Germany. Sosyoekonomi. 2010;12(12).