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1
Liu, Siming, Honglei Gao, Peng Hou, and Yong Tan. "Risk spillover effects of international crude oil market on China’s major markets." AIMS Energy 7, no. 6 (2019): 819–40. http://dx.doi.org/10.3934/energy.2019.6.819.
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Thakare, Sameer, Neeraj Dhanraj Bokde, and Andrés E. Feijóo-Lorenzo. "Forecasting different dimensions of liquidity in the intraday electricity markets: A review." AIMS Energy 11, no. 5 (2023): 918–59. http://dx.doi.org/10.3934/energy.2023044.
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<abstract><p>Energy consumption increases daily across the world. Electricity is the best means that humankind has found for transmitting energy. This can be said regardless of its origin. Energy transmission is crucial for ensuring the efficient and reliable distribution of electricity from power generation sources to end-users. It forms the backbone of modern societies, supporting various sectors such as residential, commercial, and industrial activities. Energy transmission is a fundamental enabler of well-functioning and competitive electricity markets, supporting reliable supply, market integration, price stability, and the integration of renewable energy sources. Electric energy sourced from various regions worldwide is routinely traded within these electricity markets on a daily basis. This paper presents a review of forecasting techniques for intraday electricity markets prices, volumes, and price volatility. Electricity markets operate in a sequential manner, encompassing distinct components such as the day-ahead, intraday, and balancing markets. The intraday market is closely linked to the timely delivery of electricity, as it facilitates the trading and adjustment of electricity supply and demand on the same day of delivery to ensure a balanced and reliable power grid. Accurate forecasts are essential for traders to maximize profits within intraday markets, making forecasting a critical concern in electricity market management. In this review, statistical and econometric approaches, involving various machine learning and ensemble/hybrid techniques, are presented. Overall, the literature highlights the superiority of machine learning and ensemble/hybrid models over statistical models.</p></abstract>
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Elbrus Muradsoy, Shukufa. "THE THIRD ENERGY PACKAGE AND LIBERALIZATION OF EUROPEAN ENERGY MARKET." SCIENTIFIC WORK 55, no. 06 (July 5, 2020): 91–99. http://dx.doi.org/10.36719/aem/2007-2020/55/91-99.
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Liu, Yang, Xueqing Yang, and Mei Wang. "Global Transmission of Returns among Financial, Traditional Energy, Renewable Energy and Carbon Markets: New Evidence." Energies 14, no. 21 (November 3, 2021): 7286. http://dx.doi.org/10.3390/en14217286.
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Connections to world markets facilitate local markets developments to support more efficient capital allocation and greater investment and growth opportunities. Under the framework of cross-market rebalancing theory, in this study, we aim to systematically examine the market connections among world financial, energy, renewable energy and European carbon markets by measuring the return spillovers from 2008 to 2021. We find that the renewable energy market is more closely connected to the world financial and energy markets in the sense of the return transmission, while the carbon market is less connected to them. However, due to improved market regulations and determinations related to fighting climate change, the connections between the carbon market and other markets have gradually intensified. Plotting the return spillover indexes, we observe that strong return spillovers from the renewable energy market to other markets occurred when large investment plans were announced. Regarding the carbon market, regulation changes introduced by the EU Commission to improve and stabilize market environment induced intensified return transmission from carbon market to other markets. Another interesting finding is that the highly intensified return transmission among markets due to the COVID-19 crisis started to loosen when COVAX published the first interim distribution forecast on 3 February 2021.
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Soutinho, Gustavo, Vítor Miguel Ribeiro, and Isabel Soares. "Dynamic correlation among title transfer facility natural gas, Brent oil and electricity EPEX spot markets: Spillover effects of economic shocks on returns and volatility." AIMS Energy 11, no. 6 (2023): 1252–77. http://dx.doi.org/10.3934/energy.2023057.
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<abstract> <p>This research explores the spillover effects in the directional movement of returns and the persistence of shocks among three prominent energy spot markets: title transfer facility for natural gas, Brent crude oil and electricity markets from monthly price data spanning January 2010 to September 2022. Methodologically, we initially employ bivariate vector autoregressive models to detect potential lagged return effects from one spot market on another. Then, we examine the impact on the conditional mean returns and volatility across these spot markets using the standard dynamic conditional correlation (DCC) model, as well as the respective asymmetric (ADCC) and flexible (FDCC) extensions. In addition, we accommodate innovative insights that include recent datasets on the COVID-19 crisis and the Ukrainian war, which constitute a new addition to the existent literature. The empirical findings confirm the significant impact of these two unprecedented moments of contemporaneous history, given that both events are substantiated by an exponential increase in prices and by a rise in volatility. However, the effect on returns was not uniform across the time series. Specifically, there was a consistent increase in volatility for natural gas and electricity from the start of 2020 until the end of 2022, while Brent oil exhibited a substantial peak only in the first half of 2020. This study also reveals that previous lagged returns within each market, particularly for Brent oil and electricity, had statistically significant effects on current returns. There was also a robust unidirectional positive spillover effect from the Brent oil market to the returns of electricity and the natural gas markets. The study also reveals the presence of a weak positive autocorrelation between natural gas and electricity returns, and positive shocks to returns had a more pronounced impact on volatility compared to negative shocks across all the time series.</p> </abstract>
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Sanstad, Alan H., and Richard B. Howarth. "‘Normal’ markets, market imperfections and energy efficiency." Energy Policy 22, no. 10 (October 1994): 811–18. http://dx.doi.org/10.1016/0301-4215(94)90139-2.
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Mello, João, Cristina de de Lorenzo, Fco Alberto Campos, and José Villar. "Pricing and Simulating Energy Transactions in Energy Communities." Energies 16, no. 4 (February 15, 2023): 1949. http://dx.doi.org/10.3390/en16041949.
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Extensive literature is available for modeling and simulating local electricity markets, often called P2P electricity markets, and for pricing local energy transactions in energy communities. Market models and pricing mechanisms provide simulation tools to better understand how these new markets behave, helping to design their main rules for real applications, and assessing the financial compensations of the internal energy transactions. As such, pricing mechanisms are often needed in energy management systems when centralized management approaches are preferred to market-based ones. First, this paper highlights the links between local electricity markets, pricing mechanisms for local electricity transactions, and other approaches to sharing the collective benefits of participating in transactive energy communities. Then, a standard nomenclature is defined to review some of the main pricing mechanisms for local energy transactions, an innovative pricing mechanism based on the economic principles of a post-delivery pool market is proposed, and other relevant approaches for local electricity market simulation such as Nash equilibrium or agent-based simulation are also revisited. The revision was based on systematic searches in common research databases and on the authors’ experience in European and national projects, including local industrial applications for the past five years. A qualitative assessment of the reviewed methods is also provided, and the research challenges are highlighted. This review is intended to serve as a practical guide to pricing mechanisms and market simulation procedures for practical designs of internal financial compensation to share the collective benefits of energy communities.
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LEE, Tae-Joon. "Global Market Potential for Micro Nuclear Reactors." Journal of Energy Engineering 30, no. 4 (December 31, 2021): 56–66. http://dx.doi.org/10.5855/energy.2021.30.4.056.
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Atherton, John, Markus Hofmeister, Sebastian Mosbach, Jethro Akroyd, Feroz Farazi, and Markus Kraft. "British imbalance market paradox: Variable renewable energy penetration in energy markets." Renewable and Sustainable Energy Reviews 185 (October 2023): 113591. http://dx.doi.org/10.1016/j.rser.2023.113591.
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Schaefer, Alexander M., and Walter E. Block. "Free-Market Energy." Energy & Environment 23, no. 4 (June 2012): 647–55. http://dx.doi.org/10.1260/0958-305x.23.4.647.
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There should be no governmental energy policy, nor any department of energy, for that matter. All decisions concerning fuel, up to and including nuclear power, should be based on private property rights and the tenets of laissez faire capitalism. This would assure the proper assumption of risk and ideal resource allocation.
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Belmans, Ronnie. "European energy market." European Transactions on Electrical Power 21, no. 6 (September 2011): 1823–24. http://dx.doi.org/10.1002/etep.641.
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Li, Yan. "Nonlinear relationship between carbon market and energy market." E3S Web of Conferences 275 (2021): 02046. http://dx.doi.org/10.1051/e3sconf/202127502046.
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This paper divides the energy market into energy futures market and new energy stock market. At the same time, the closing price of Shenzhen carbon emission rights is used to represent the carbon market price, the energy futures composite index of China Securities Exchange is used to represent the energy futures market price, and the stock price of new energy listed companies is used to represent the new energy stock market price. VAR model and MSVAR model are used to empirically study the relationship between the three variables and the nonlinear relationship between them. VAR model results show that there will be more complex relationship among carbon market price, energy company stock price and energy futures price. MSVAR model shows that the energy futures market, new energy stock market and carbon market present nonlinear and structural changes, and MSVAR model can better explain the nonlinear relationship among the three markets than traditional VAR model.
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Erokhin, Viktor V., and Ivan I. Lukashenko. "ECOLOGY AND REGIONAL ENERGY CONSERVATION POLICY." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 4/2, no. 124 (2022): 109–17. http://dx.doi.org/10.36871/ek.up.p.r.2022.04.02.013.
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The article provides the necessary background information about the microstructure of the market, presents a market model, and derives pricing equations based on the market-making algorithm. This article introduces the Market Making Algorithm, an online probability density estimation method used by a market maker to track the true underlying value of a stock. Taking into account the desire of the market maker to make a profit and the desire to control the risk of the portfolio, the practical implementation of the market making algorithm is described. Under various market conditions, an empirical analysis of the market making algorithm is presented, including the presence of several competing market makers. Modeling markets based on the market making algorithm provides information about the behavior of price processes. A comparison of the properties of time series price data obtained as a result of modeling with the known properties of real markets is presented. This makes it possible to simulate real financial time series, such as the leptokurtic return distribution, without postulating complex models of agent interactions and herd behavior of agents. The influence of competition, volatility and jumps in the value of the underlying asset on the profit of market makers, the spread between the purchase and sale price and the execution of transactions is analyzed.
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Hwang, Qianrui, Min Yao, Shugang Li, Fang Wang, Zhenmin Luo, Zheng Li, and Tongshuang Liu. "Risk Spillovers between China’s Carbon and Energy Markets." Energies 16, no. 19 (September 26, 2023): 6820. http://dx.doi.org/10.3390/en16196820.
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In recent years, with the intensification of global warming and the greenhouse effect, the global consensus has focused on efficient, clean, low-carbon, and green development as a means of achieving new economic growth. China, as a major carbon emitter, has been at the forefront of efforts to reduce carbon emissions. The establishment of the carbon emissions trading market, commonly known as the “carbon market”, provides an economic solution for reducing carbon emissions in both the carbon and energy markets. As China’s carbon market continues to grow rapidly, fluctuations in the energy or carbon markets caused by information shocks can easily spread between the two markets, leading to increased interconnectedness. Moreover, the spillover effect of the volatility between China’s carbon market and energy market is not constant, and the intensity and direction of this effect vary depending on different market volatility levels and periods. Therefore, it is crucial to conduct a comprehensive study on the characteristics of the volatility spillover effect between China’s carbon market and energy market and to fully understand the mechanism of energy regulation on carbon prices. This research will have significant practical implications for promoting the establishment of a well-functioning internal price transmission mechanism between China’s carbon market and energy market. This study took the risk spillover between the carbon market and energy market as the research object and systematically combed through its pricing mechanism and spillover impact. Through constructing the DY overflow index model based on a VAR model and generalized variance decomposition method, this study explored the linkage between China’s carbon and energy markets, i.e., the linkage of price fluctuations between China’s energy and carbon markets, as well as the time-varying nature of inter-market spillovers, and provides suggestions on the risk control of price fluctuations between the carbon and energy markets.
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De Geeter, Anne, and Anatole Boute. "Directive 2006/32/EC on Energy End-Use Efficiency and Energy Services: Realising the Transition to Sustai nable Energy Markets?" Journal for European Environmental & Planning Law 3, no. 5 (2006): 414–31. http://dx.doi.org/10.1163/187601006x00461.
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AbstractThe promotion of energy end-use efficiency is central in the European policy on climate change, security of supply and completion of the internal energy market. Accordingly, Directive 2006/32/EC aims at removing the barriers that prevent the efficient use of energy and creating a market for energy services. In this respect, it promotes energy efficiency mechanisms such as financing and informative instruments, public procurement requirements and voluntary agreements. This article argues that by creating a market for energy services, Directive 2006/32/EC adopts a free market environmentalism' approach, but fails to establish the conditions required to ensure the viability of such market. Nevertheless, the mechanisms it proposes are likely to contribute positively towards sustainable energy markets.
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Gao, Feng-Wei, Yi-Min Wu, Ding Chen, and Meng-Yao Hu. "The Spillover Effect among CET Market, Coal Market, and New Energy Market for Dual-Carbon Target: New Evidence from China." Discrete Dynamics in Nature and Society 2023 (April 19, 2023): 1–15. http://dx.doi.org/10.1155/2023/5126128.
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The spillover effect of the energy markets and the CET plays an important role in guiding the realization of two-carbon target; using the network spillover methodology of Diebold, Yilmaz, Jozef Barunı´k, and Toma´sKrehlı´k, we examine both the static and dynamic connectedness of CO2 emissions trading (CET) market, steam coal market, new energy, and traditional energy market in China from early Dec 2013 to the end of July 2021. At last, we verified the stability of the model and obtained the following findings: (1) the total spillover effect index is 13.91% between those markets, and it is mainly focused on short term. Moreover, the dynamic spillover effect is time-varying, and it is greatly influenced by the domestic and international environment; (2) the connectedness of the CET market with other energy markets is neutral, the development of new energy market is strong, it is the main transmitter to other markets, especially to the traditional energy market except for the steam coal market, and the coal market is an effect transmitter. These results provide a theoretical reference for investors and policy makers who are concerned with the return connectedness among the CET market, new energy market, and steam coal market in China.
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O’Sullivan, Marlene. "Industrial life cycle: relevance of national markets in the development of new industries for energy technologies – the case of wind energy." Journal of Evolutionary Economics 30, no. 4 (May 14, 2020): 1063–107. http://dx.doi.org/10.1007/s00191-020-00677-5.
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Abstract About 20 years ago Klepper (1997) has shown that the life cycle theory, initially introduced for products, can also be applied to the development of industries. The industries that were examined to establish this theory were marked by relatively stable market conditions that are typically driven by innovation. However, research on the transition of the energy system has shown that markets for new energy technologies are driven by political support. As yet an analysis of the industry life cycle of an industry which has developed under politically driven market conditions has not been conducted. Therefore this paper examines the development of the global wind energy industry and the relevance of national markets in a globalized world. The study is founded on a large empirical database. A comparative analysis of various international and national developments was conducted using descriptive statistical methods. The findings show that the global development derives from the sum of individual national developments. It reveals a strong influence of national markets on the development of their respective wind energy industry. Therefore these findings provide relevant insides for the political debate on market support mechanisms in wind energy.
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D’Alpaos, Chiara, and Michele Moretto. "Do Smart grids innovation affect real estate market values?" AIMS Energy 7, no. 2 (2019): 141–50. http://dx.doi.org/10.3934/energy.2019.2.141.
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Wang, Xue. "The time-varying co-movements between energy market and global financial market." Journal of Computing and Electronic Information Management 10, no. 1 (March 8, 2023): 88–95. http://dx.doi.org/10.54097/jceim.v10i1.5763.
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Since the global financial crisis in 2008, international energy markets have become more closely linked to financial markets and energy prices have exhibited more financial characteristics. Therefore, it is of great theoretical and practical significance to study the time-varying synergy between the energy market and the global financial market. This paper sets up a model for realizing the time-varying co-movements between energy markets and global financial markets: It uses the Diebold &Yilmaz spillover index method and its dynamic expansion model to test the spillover mechanism of market volatility shocks, applies the deep long and short-term memory (DLSTM) model to predict market prices. The results of this study show that, first, energy markets and global financial markets are closely linked networks, and the spillover effects have obvious time-varying characteristics. Second, from a static spillover perspective, the Global Financial Price Index shows the largest net exporter in both yield and volatility spillovers, suggesting that the global financial development market has the strongest influence on other markets. However, in the volatility spillover, the net spillover index shows alternating periods of positive and negative periods most of the time.
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Nikolić, Helena. "THE RUSSIAN-UKRAINIAN CRISIS AND THE ENERGY MARKET." DIEM Dubrovnik International Economic Meeting 8, no. 1 (August 2023): 83–92. http://dx.doi.org/10.17818/diem/2023/1.10.
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The paper deals with the current crisis, the Russian-Ukrainian war, and events on the energy market. Emphasis is placed on the European Union since Russia is of strategic importance in the trade of major energy products. Namely, the majority of Russian energy exports on a daily basis is directed towards Europe. Nevertheless, Russia's aggressive venture was strongly condemned by the member states of the European Union, which are also members of NATO. Guided by the purpose of a peace alliance, despite energy connectivity, the European Union introduced a series of restrictive measures. Thus, it took an economically quite hostile position. In response to the restrictions, Russia predictably manipulated the energy supply chain and threatened Europe's energy survival. The European Union faced enormous challenges due to disturbed peace, social insecurity, energy uncertainty, inflation, threatened business and the gap between supply and demand. Therefore, this paper takes an analytical approach to this problem and analyses potential strategic solutions for both Europe and Russia. The end of the war is indefinite and still invisible, but what is doubtless is that the consequences in energy flows, strategic approaches and trends in the energy aspect will change forever.
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Gore, Olga, Evgenia Vanadzina, and Satu Viljainen. "Linking the energy-only market and the energy-plus-capacity market." Utilities Policy 38 (February 2016): 52–61. http://dx.doi.org/10.1016/j.jup.2015.12.002.
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Kotlewski, Dariusz Cezary. "The power market and the energy market." Kwartalnik Nauk o Przedsiębiorstwie 49, no. 4 (December 18, 2018): 49–61. http://dx.doi.org/10.5604/01.3001.0012.8120.
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In Poland, an attempt was made to implement a dual-energy market, consisting of the electricity and power market, with the consent of the European Commission. Introduction such a dual-energy market brings potential benefits to economic growth. However, it can cause asymmetries in relations with foreign countries, especially in a situation where neighboring countries do not introduce such a market. The inspiration for the discussion on this subject is the book by Dorota Niedziółka, The functioning of the Polish energy market, Difin, Warsaw 2018. According to the author of the article, this book provides a lot of very valuable information about the energy market in Poland, with the chapter devoted to the electricity market standing out particularly positively compared to other chapters.
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Xu, Haowen, Jun Tang, Qifeng Huang, Zhong Zhuang, Meimei Duan, and Ju Sheng. "Research on energy purchase combination strategies for multiple energy commercial buildings considering multistage market uncertainties." Journal of Physics: Conference Series 2703, no. 1 (February 1, 2024): 012018. http://dx.doi.org/10.1088/1742-6596/2703/1/012018.
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Abstract With the gradual development of the power markets, various types of uncertainty are gradually increasing. The overlapping effects of various uncertainties have a significant impact on the operational economy of multiple energy commercial buildings (MECB) relying on various energy sources. MECB can purchase electricity from multiple stages of the market, such as spot from medium to long term and the market electricity price risk varies at different stages. Therefore, this paper investigates the energy purchasing strategies of MECB in multistage markets, taking into account various uncertainties. Considering the actual operational characteristics of MECB, this paper proposes a MECB low-carbon economic optimization model and establishes an energy purchase strategy model for MECB under various risk scenarios based on random optimization theory. Research has found that in scenarios with higher risks, MECB will participate more conservatively in the market. By simultaneously participating in the medium to long-term market and spot market, MECB can effectively avoid the cost risks brought about by various uncertainties.
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Bilotskiy, Sergiy, Nicole Danylova, Olena Grinenko, Oleksandra Karmaza, and Daria Koucherets. "Legal and economic aspects of Ukrainian enterprises activity at the European renewable energy market." Investment Management and Financial Innovations 14, no. 2 (June 2, 2017): 71–78. http://dx.doi.org/10.21511/imfi.14(2).2017.07.
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The article deals with a current trend of the global energy market, which is characterized by rising tension in relations between the performers of the energy market regulation mechanisms, and it leads to the emergence of alternative energy sources. The article is called to identify the causes of renewable energy markets nascence, to make comparative description of Ukrainian and European Renewable Energy Markets attractiveness, and to characterize the state policy change in a renewable energy market. Different interpretation of nature and classification of the field of renewable energy in foreign and Ukrainian approaches shows the problem of legal criteria of renewable energy markets regulation. It is proved the existence of double barrier penetration of the European market for renewable energy for Ukrainian companies, which includes compliance with the accepted EU Directives and compliance with the Rules of each member individually. The presence of clearly defined standards and certificates of quality for the European market allows producers to show the competitiveness of Ukrainian products in the international market and stimulate Ukrainian manufacturers. The presence of clearly formulated laws, stable and balanced political and legal environment of the EU allows Ukrainian producers of renewable energy to develop such a strategy that considers the time factor, as the primary parameter of competitiveness in international business. The market of solid biofuels in EU is under formation, its development timeframe and uncertainty of environmental risks becoming is especially important for Ukrainian producers.
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Qussous, Ramiz, Nick Harder, and Anke Weidlich. "Understanding Power Market Dynamics by Reflecting Market Interrelations and Flexibility-Oriented Bidding Strategies." Energies 15, no. 2 (January 11, 2022): 494. http://dx.doi.org/10.3390/en15020494.
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Power markets are becoming increasingly complex as they move towards (i) integrating higher amounts of variable renewable energy, (ii) shorter trading intervals and lead times, (iii) stronger interdependencies between related markets, and (iv) increasing energy system integration. For designing them appropriately, an enhanced understanding of the dynamics in interrelated short-term physical power and energy markets is required, which can be supported by market simulations. In this paper, we present an agent-based power market simulation model with rule-based bidding strategies that addresses the above-mentioned challenges, and represents market participants individually with a high level of technical detail. By allowing agents to participate in several interrelated markets, such as the energy-only market, a procurement platform for control reserve and a local heat market representing district heating systems, cross-market opportunity costs are well reflected. With this approach, we were able to reproduce EPEX SPOT market outcomes for the German bidding zone with a high level of accuracy (mean absolute percentage error of 8 €/MWh for the years 2016–2019). We were also able to model negative market prices at the energy-only market realistically, and observed that the occurrence of negative prices differs among data inputs used. The simulation model provides a useful tool for investigating different short-term physical power/energy market structures and designs in the future. The modular structure also enables extension to further related markets, such as fuel, CO2, or derivative markets.
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Saha, G. "Energy Market Opportunities Post-Maui." Energy Exploration & Exploitation 13, no. 2-3 (May 1995): 169–79. http://dx.doi.org/10.1177/0144598795013002-307.
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As supply from the Maui and other existing producing fields decline, petroleum explorers and developers need to address the question Who will be the indigenous oil and gas customers post Maui? This paper discusses major macro- and micro-environmental trends which will influence likely market opportunities. Two sub-markets are examined. First, what trends impact on current oil and gas customers. Second, what other new customers might arise. The macro-environment trends cover important economic, political, legislation, socio-economic and technical parameters. The micro-environment trends cover energy market structures and pricing parameters.
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Yao, Yi, Lixin Tian, and Guangxi Cao. "The Information Spillover among the Carbon Market, Energy Market, and Stock Market: A Case Study of China’s Pilot Carbon Markets." Sustainability 14, no. 8 (April 9, 2022): 4479. http://dx.doi.org/10.3390/su14084479.
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The carbon emission trading market is an important policy tool to promote the realization of China’s carbon peaking and carbon neutrality goals. Research on the relationship between the carbon market and other related ones supports policy formulation and risk aversion. Firstly, we construct the Carbon–Energy–Stock system to compare the information spillover between the three subsystems under a unified framework. Secondly, we adopt the connectedness network to identify the role and status of the carbon, energy, and stock markets. Thirdly, through the rolling window approach, we explore the dynamic evolution of the information spillover. The results show that (1) the information spillover effect between China’s pilot carbon markets, the energy market, and the stock market is relatively low; (2) in the Carbon–Energy–Stock system, China’s pilot carbon markets behave as the information transmitters, and the Guangdong pilot and Beijing pilot are core pilots. The coal market is the top information recipient, while the new energy industry is the top information transmitter; (3) the system connectivity shows the characteristics of increasing first and then decreasing. For investors and policymakers, looking at each market from a systems point of view will present a more accurate understanding of them and their interconnections.
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Anggraini, Melaty. "Energy Security: Indonesia’s Grand Strategy in Facing Global Energy Market." Budi Luhur Journal of Strategic & Global Studies 1, no. 1 (July 31, 2023): 26–48. http://dx.doi.org/10.36080/jsgs.v1i1.4.
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Abstrak: Indonesia memiliki peluang yang cukup potensial untuk memainkan peran dalam politik energi karena Indonesia di dukung sumber daya alam energi potensial baik energi fosil maupun energi terbarukan, yang seharusnya dapat melayani kebutuhan pasokan energi global serta menjaga ketersediaan energi bagi masyarakatnya. Serta dapat meningkatkan posisi tawar strategis Indonesia dalam ranah geopolitik dunia. Namun Indonesia belum bisa memanfaatkan posisi strategis tersebut, dikarenakan ketidaksanggupan dalam memenuhi subtitusi energi dan menghadapi dinamika harga energi dunia yang ditunjukkan dari sikap Indonesia yang mengundurkan diri sebagai anggota OPEC di tahun 2008. Perubahan tingkat konsumsi energi masyarakat Indonesia yang semakin meningkat akibat pola industrialisasi dan perkembangan alat transportasi juga merubah posisi Indonesia menjadi salah satu negara yang tinggi dalam hal mengimpor energi daripada melakukan ekspor energi ke negara lainnya. Untuk itu penelitian ini berfokus menganalisis rancangan yang paling tepat bagi Indonesia untuk membenahi regulasinya di bidang energi. Analisis dari hambatan dan tantangan bagi pemerintah Indonesia dalam membuat regulasi di bidang energi khususnya energi terbarukan, maka Indonesia perlu membuat rancangan konsep ketahanan energi dengan menyiapkan sebuah Grand Strategy Energy dalam menghadapi pasar energi global. Pemerintah Indonesia perlu membuat Grand Strategi yang mengarah ke pembatasan konsumsi energi fosil dan perlu upaya diversifikasi energi agar permintaan terhadap energi fosil dapat diminimilisir, serta mendorong iklim investasi asing sebagai modal pengembangan diversifikasi energi alternatif tersebut, namun disesuaikan dengan tujuan kepentingan nasional yang lebih mengarah ke domestic oriented dan transisi energi dunia. Abstract: Indonesia has quite a potential opportunity to play a role in energy politics because Indonesia is supported by potential natural energy resources, both fossil and renewable energy, which should serve the needs of the global energy supply and maintain energy availability for its people. As well as being able to improve Indonesia's strategic bargaining position in the realm of world geopolitics. However, Indonesia has yet to take advantage of this strategic position due to its inability to meet energy substitution and to face the dynamics of world energy prices, as shown by Indonesia's resignation as a member of OPEC in 2008. Changes in energy consumption in Indonesia are increasing due to industrialization and development patterns. Means of transportation also changed Indonesia's position to become one of the countries that are high in importing energy rather than exporting energy to other countries. For this reason, this research focuses on analyzing the most appropriate design for Indonesia to improve its regulations in the energy sector. From the analysis of the obstacles and challenges for the Indonesian government in making regulations in the energy sector, especially renewable energy, Indonesia needs to design an energy security concept by preparing a Grand Energy Strategy in facing the global energy market. The Indonesian government needs to make a Grand Strategy that leads to limiting the consumption of fossil energy and needs efforts to diversify energy so that demand for fossil energy can be minimized, as well as encouraging a foreign investment climate as capital for developing alternative energy diversification but adjusted to the goals of national interests which are more directed towards domestic-oriented and world energy transition.
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Maslennikov, A. "Regulation of Energy Derivatives Market." World Economy and International Relations, no. 2 (2012): 50–56. http://dx.doi.org/10.20542/0131-2227-2012-2-50-56.
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In recent decades, the oil futures and so called paper oil market gained rapid development. There are different points of view on the issue, what influence the "paper" oil has on real oil prices: some experts believe that such influence doesn't exist, other specialists consider it to be essential. World financial crisis didn't stop the growth of derivatives exchange trading on the energy market. In the circumstances, the USA and the EU introduced its reform, but this process is going on very slowly. As a result, the restrictions presently existing on energy derivatives markets don't have a serious restraining effect on the volume of speculative trading.
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Loomis, David, and Eric Malm. "Active Market Share: measuring competitiveness in retail energy markets." Utilities Policy 8, no. 4 (December 1999): 213–21. http://dx.doi.org/10.1016/s0957-1787(00)00002-3.
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CHIMIREL, Catalin, and Laura MĂRGĂRIT. "Coupling energy markets on the balancing market time horizon." EMERG - Energy. Environment. Efficiency. Resources. Globalization 9, no. 4 (December 1, 2023): 28–37. http://dx.doi.org/10.37410/emerg.2023.4.03.
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Wassermann, Ursula. "Energy: A Buyer's Market." Journal of World Trade 19, Issue 1 (February 1, 1985): 62–67. http://dx.doi.org/10.54648/trad1985005.
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Bernadett, Matyas Tímea. "Energy Market Investment Methodologies." European Scientific Journal, ESJ 18, no. 15 (May 31, 2022): 22. http://dx.doi.org/10.19044/esj.2022.v18n15p22.
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As more and more renewable energy market investment opportunities come to the fore, investors intend to optimize their assets through risk-return diversification. In the light of Markowitz’s modern portfolio theory aimed at recognizing the potential for higher returns and lower risks, the identification of different energy market segments has become essential. In this regard, through the research of the conventional and alternative/ renewable energy market segments, as well as various international statistical models, the optimal methodology was identified. The optimal methodology allows the aggregation of different energy and alternative/ renewable energy ETFs into international investment portfolios using a variable weighing of assets and is expected to result in an adequate outcome.
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Proops, John L. R., Dieter Helm, John Kay, and David Thompson. "The Market for Energy." Economic Journal 100, no. 399 (March 1990): 263. http://dx.doi.org/10.2307/2233619.
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Yoo, Jong-Hun, and Hu-Gon Kim. "A Long Term Market Forecasting of Passenger Car using MESSAGE Modelling." Journal of Energy Engineering 21, no. 1 (March 31, 2012): 33–42. http://dx.doi.org/10.5855/energy.2012.21.1.033.
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Wasilewska, Natalia, Mirosław Wasilewski, Serhiy Zabolotnyy, and Dmytro Osiichuk. "The Impact of M&As on the Competitive Positioning of European Energy Firms and Market Power Concentration on EU National Energy Markets." Energies 15, no. 23 (November 22, 2022): 8798. http://dx.doi.org/10.3390/en15238798.
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By studying M&A deals completed by European energy and power companies between 2002 and 2021, the paper inquires into the impact of corporate consolidation on the competitive positioning of individual energy firms and the concentration of market power on the national energy markets in the EU countries. Our evidence suggests that the European energy market may be moving towards a greater concentration of market power as market leaders are shown to primarily acquire their peers from national markets, while outsiders are more likely to diversify into non-energy sectors, which may further endanger their competitive positioning in the future. We also find that M&As allow energy and power companies to substantially increase their market share within national markets. The said impact is stronger in case of cross-border deals, including those within and outside of the EU. At the same time, only cross-border deals are associated with sufficiently strong revenue growth to advance firms’ relative positioning within national markets. The relative positioning of firms in the EU market remains unaffected by M&A activities, which may be indicative of extreme rigidity and segmentation of the EU market. While at the country level, M&As are found to contribute to a reduction in market concentration measured by a number of indicators, this negative link is documented to be entirely driven by non-core acquisitions involving targets from non-energy industries.
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XU, WEI, and GUANGXI CAO. "ASYMMETRIC-STRUCTURE ANALYSIS OF CARBON AND ENERGY MARKETS." Fractals 24, no. 01 (March 2016): 1650011. http://dx.doi.org/10.1142/s0218348x16500110.
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This study aimed to investigate the asymmetric structure between the carbon and energy markets from two aspects of different trends (up or down) and volatility-transmission direction using asymmetric detrended cross-correlation analysis (DCCA) cross-correlation coefficient test, multifractal asymmetric DCCA (MF-ADCCA) method, asymmetric volatility-constrained correlation metric and time rate of information-flow approach. We sampled 1283 observations from January 2008 to December 2012 among pairs of carbon and energy markets for analysis. Empirical results show that the (1) asymmetric characteristic from the cross-correlation between carbon and returns in the energy markets is significant, (2) asymmetric cross-correlation between carbon and energy market price returns is persistent and multifractral and (3) volatility of the base assets of energy market returns is more influential to the base asset of the carbon market than that of the energy market.
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Wang, Xu, Jinling Liu, and Qichang Xie. "Quantile frequency connectedness between energy tokens, crypto market, and renewable energy stock markets." Heliyon 10, no. 3 (February 2024): e25068. http://dx.doi.org/10.1016/j.heliyon.2024.e25068.
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Ringel, Marc. "Energy advice in Germany: a market actors’ perspective." International Journal of Energy Sector Management 12, no. 4 (November 5, 2018): 656–74. http://dx.doi.org/10.1108/ijesm-04-2018-0002.
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PurposeThis study reviews present trends, barriers and outlooks for the future as seen by actors in the energy advice services market in Germany. As Germany is one of Europe’s leading markets for energy services, this review aims to highlight energy sector management issues that exist throughout Europe.Design/methodology/approachThis study combines qualitative and quantitative research approaches, using seven qualitative stakeholder interviews and a semi-structured survey covering over 500 energy advisors. Based on the present market, this study seeks to identify barriers against further market development, regulatory measures that can promote market development and business models for energy services likely to emerge in the future.FindingsSignificant barriers persist, despite a strong government commitment to support development of the energy services markets. The barriers encourage market actors to maintain thestatus quorather than use innovate new service models. To support innovative business models, action is needed by both industry associations and the government to create a stronger demand pull for advice services.Originality/valueThis paper provides a new sectoral overview of Europe’s biggest energy service market as seen from a market actor perspective. It focuses on the analysis of barriers and business models to derive needs for further capacity building within the sector and for political governance to trigger further market dynamics.
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Wang, Minggang, Chenyu Hua, and Hua Xu. "Dynamic Linkages among Carbon, Energy and Financial Markets: Multiplex Recurrence Network Approach." Mathematics 10, no. 11 (May 26, 2022): 1829. http://dx.doi.org/10.3390/math10111829.
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It has become a hot issue to integrate the carbon market, energy market, and financial market into one system and explore the relationship among them. Considering that the carbon market, energy market, and financial market all have chaotic characteristics to varying degrees, this paper proposes a theoretical framework to study the linkage relationship among the three markets on the basis of the method of the Multiplex recurrence network. Firstly, we built a multiplex recurrence network of carbon-energy-financial market. Then, based on the connection relationship among nodes of the recurrence network of each market, the degree distribution of nodes of each market, and the information entropy theory, we put forward several metric indicators to explore the correlativity and mutual guidance relation among carbon market, energy market and financial market from micro and macro perspectives. Using the data generated by the deterministic system, the effectiveness of the defined index was confirmed by numerical simulation. The empirical analysis of the carbon market, energy market, and financial market revealed the evolution process of the increasingly close connection between the three markets, and we found that the carbon market plays an increasingly important role in the world capital market system. Based on the research results, we propose some suggestions for market decision-makers, enterprises, and investors.
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Zamasz, K. "Energy company in a competitive energy market." Polityka Energetyczna – Energy Policy Journal 21, no. 2 (June 30, 2018): 35–48. http://dx.doi.org/10.33223/epj/96207.
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Zang, Hannie, and JongWon Kim. "Reinforcement Learning Based Peer-to-Peer Energy Trade Management Using Community Energy Storage in Local Energy Market." Energies 14, no. 14 (July 8, 2021): 4131. http://dx.doi.org/10.3390/en14144131.
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Many studies have proposed a peer-to-peer energy market where the prosumers’ actions, including energy consumption, charge and discharge schedule of energy storage systems, and transactions in local energy markets, are controlled by a central operator. In this paper, prosumers’ actions are not controlled by an operator, and the prosumers freely participate in the local energy market to trade energy with other prosumers. We designed and modeled a local energy market with a management algorithm that uses community energy storage for prosumers who competitively participate in trade in the real-time energy market. We propose an energy-trade management algorithm that manages the trades of prosumers in two phases based on bids and offers submitted by prosumers. The first phase is to manage the trade of prosumers who have submitted fair prices to trade with other prosumers in the real-time energy market. The second phase is managing the trade of prosumers that could not trade in the first phase. Community energy storage is employed in the second phase and controlled by a reinforcement learning-based trading algorithm to decide whether to buy, sell, or do nothing with the prosumers. The action of buying and selling means charging and discharging the community energy storage, respectively. Numerical results show that the proposed trading algorithm gains a near-maximum profit. Besides, we verified that community energy storage yields more profit than the battery wear-out cost.
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Ganiyu Bolawale Omotoye, Binaebi Gloria Bello, Sunday Tubokirifuruar Tula, Azeez Jason Kess-Momoh, Andrew Ifesinachi Daraojimba, and Adedayo Adefemi. "Navigating global energy markets: A review of economic and policy impacts." International Journal of Science and Research Archive 11, no. 1 (January 30, 2024): 195–203. http://dx.doi.org/10.30574/ijsra.2024.11.1.0029.
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The global energy landscape is undergoing a profound transformation, marked by shifts in supply and demand dynamics, technological advancements, and evolving policy frameworks. This paper provides a comprehensive review of the economic and policy impacts shaping contemporary global energy markets. Economic forces play a pivotal role in shaping the trajectory of global energy markets. The exploration of unconventional energy sources, such as shale gas and renewable technologies, has disrupted traditional supply chains, influencing market prices and altering the geopolitical dynamics of energy-producing nations. The rise of energy-efficient technologies and the growing demand for cleaner energy sources are redefining the investment landscape, creating new opportunities and challenges for businesses, governments, and consumers alike. Policy decisions at national and international levels exert a profound influence on energy markets. The transition towards a low-carbon economy is a central theme, with governments worldwide implementing a variety of regulatory frameworks, incentives, and penalties to encourage sustainable energy practices. This paper explores the effectiveness and implications of these policies, examining their impact on market competitiveness, innovation, and global cooperation in addressing climate change. The interplay between economic and policy factors is evident in the ongoing energy transition. As countries strive to meet their climate goals, the paper delves into the intricacies of energy market dynamics, analyzing the role of government interventions in fostering innovation, promoting energy security, and addressing socio-economic disparities. Furthermore, the paper highlights the interconnectedness of global energy markets, emphasizing the importance of international collaboration in achieving a sustainable and resilient energy future. By providing a nuanced understanding of the economic and policy influences on global energy markets, this review aims to guide stakeholders in navigating the complexities of an evolving energy landscape.
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Dong, Jun, Xihao Dou, Dongran Liu, Aruhan Bao, Dongxue Wang, and Yunzhou Zhang. "Energy Trading Strategy of Distributed Energy Resources Aggregator in Day-Ahead Market Considering Risk Preference Behaviors." Energies 16, no. 4 (February 6, 2023): 1629. http://dx.doi.org/10.3390/en16041629.
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Distributed energy resources aggregators (DERAs) are permitted to participate in regional wholesale markets in many counties. At present, new market players such as aggregators participate in China’s power market transactions. However, studies related to market trading strategy have mostly focused on centralized wind power and PV generation units. Few studies have been conducted on the decision-making strategies for DERAs in China’s power market. This paper proposes an auxiliary decision-making model for distributed energy systems to participate in the day-ahead market with more reasonable trading strategies. Firstly, the Gaussian mixture model (GMM) is used to deal with the uncertainties of wind power and photovoltaic (PV) output in the distributed energy system. Secondly, the information gap decision theory (IGDT) is used to deal with the uncertainty of price fluctuations in the spot electricity market. Thirdly, according to the different risk preferences of the DERAs facing market price fluctuation, the robust decision model and opportunity decision-making model in the day-ahead market are constructed, respectively. Finally, to deal with the irrational behavior of the DERAs’ perception of “gain” and “loss” with market risks in China’s two-tier market environment, the prospect theory and the marine predator’s algorithm (MPA) are employed to obtain a day-ahead trading decision scheme for DERA. The analyses show that RDES with robust preference can withstand greater price volatility in the day-ahead market; they will reduce the bidding expectations and increase the system operating cost to improve the achievability of the expected revenue. However, DERAs under the opportunity strategy is more inclined to sell electricity to the market and offset system operating costs with revenue. The proposed model can provide strategic reference for DERAs with different risk preferences to bid in day-ahead market and can improve the level of aggregators’ participation in electricity trading.
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Maiwald, Jens. "Impacts of regional energy markets on decentralised energy supply." Central European Review of Economics and Management 2, no. 2 (June 23, 2018): 41. http://dx.doi.org/10.29015/cerem.654.
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Aim: This paper aims to describe an approach to develop a simulation model for investigating regional energy markets. Therefore the so called Cellular Approach is combined with the approach of Agent-Based Modelling.Design / Research methods: The model is built as a bottom-up approach for integral load management. Thus, supply factors such as limitations in generation are integrated directly and display flexibility. Thereby each market participant has its own economic interest. By the use of specific behaviour patterns and learning effects each agent in the model can act individually. This enables the market model to simulate how actors behave in changing situations. Conclusions / findings: The model shown in this paper provides an alternative to considerations of energy supply systems via equation-based optimization models. The combination of these two approaches enhances to observe two central aspects of the German energy turnaround, decentralisation and the consumers changing role at the energy market. Originality / value of the article: The Cellular Approach offers potential benefits for integrating renewable energy sources in regional power supply. Often discussed on a technical level, this paper focuses on the economical side of this topic. Moreover, differing to other research activities usually using optimization techniques, an Agent-Based Model is formulated to simulate a regional energy market. In the combination of a supply system primarily based on renewable energy sources and enhanced with different types of energy storage it is possible to simulate a supply system of the future.
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Zhao, Haiwen, Miao Yu, Juan Meng, and Yonghong Jiang. "Examining the Spillover Effects of Renewable Energy Policies on China’s Traditional Energy Industries and Stock Markets." Energies 17, no. 11 (May 25, 2024): 2563. http://dx.doi.org/10.3390/en17112563.
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With the development and refinement of the carbon emissions trading market, the relationship between the carbon market and the stock market has grown increasingly intertwined. This has led to a surge in research investigating the interactions between the carbon market and related sectors. This study examines the intensity and direction of spillover effects among ten industries associated with carbon emissions, spanning traditional and emerging energy sectors. Through static analysis, we find that spillover effects between industries in the carbon and stock markets are bidirectional and asymmetric. Dynamic analysis reveals that the carbon market, acting as the primary recipient of spillover effects, is notably influenced by traditional energy industries such as coal and oil, followed by photovoltaics, new energy vehicles, and others. The magnitude of these spillover effects is subject to fluctuations influenced by energy crises and events like the COVID-19 pandemic, while policy interventions can alter the overall trends in net spillover effects across various industries.
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Dyomina, Olga, and Svetlana Naiden. "State Patronage on Heat and Electricity Markets of the Russian Far East." E3S Web of Conferences 209 (2020): 05001. http://dx.doi.org/10.1051/e3sconf/202020905001.
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The paper examines the conditions and goals of state patronage on heat and electricity markets of the Russian Far East. The distinct characteristic of market organization in the region is the lack of a unified energy system, high share of districts with decentralized energy supply, and segmentation of the electricity market. Based on the technological and institutional similarities, scale and form of state patronage, three zones of electricity market were established: market, semi-market, and regulated. The forms of state patronage on heat and electricity markets of the Far East are the following: state regulation of heat and electricity tariffs, setting the tariffs below actual costs, subsidies for providers and consumers of energy, state-sponsored construction of energy capacities. The paper evaluated the scale of patronage on heat and electricity markets and reached the conclusion that without state patronage the Far Eastern consumers of heat and electricity will not be able to purchase energy in market conditions.
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Zahraoui, Younes, Tarmo Korõtko, Argo Rosin, and Hannes Agabus. "Market Mechanisms and Trading in Microgrid Local Electricity Markets: A Comprehensive Review." Energies 16, no. 5 (February 22, 2023): 2145. http://dx.doi.org/10.3390/en16052145.
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Electricity generation using distributed renewable energy systems is becoming increasingly common due to the significant increase in energy demand and the high operation of conventional power systems with fossil fuels. The introduction of distributed renewable energy systems in the electric grid is crucial for delivering future zero-emissions energy systems and is cost-effective for promoting and facilitating large-scale generation for prosumers. However, these deployments are forcing changes in traditional energy markets, with growing attention given to transactive energy networks that enable energy trading between prosumers and consumers for more significant benefits in the cluster mode. This change raises operational and market challenges. In recent years, extensive research has been conducted on developing different local energy market models that enable energy trading and provide the opportunity to minimize the operational costs of the distributed energy resources by promoting localized market management. Local energy markets provide a stepping stone toward fully transactive energy systems that bring adequate flexibility by reducing users’ demand and reflecting the energy price in the grid. Designing a stable regulatory framework for local electricity markets is one of the major concerns in the electricity market regulation policies for the efficient and reliable delivery of electric power, maximizing social welfare, and decreasing electric infrastructure expenditure. This depends on the changing needs of the power system, objectives, and constraints. Generally, the optimal design of the local market requires both short-term efficiencies in the optimal operation of the distributed energy resources and long-term efficiency investment for high quality. In this paper, a comprehensive literature review of the main layers of microgrids is introduced, highlighting the role of the market layer. Critical aspects of the energy market are systematically presented and discussed, including market design, market mechanism, market player, and pricing mechanism. We also intend to investigate the role and application of distributed ledger technologies in energy trading. In the end, we illuminate the mathematical foundation of objective functions, optimization approaches, and constraints in the energy market, along with a brief overview of the solver tools to formulate and solve the optimization problem.
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Morais, Hugo, Tiago Pinto, and Zita Vale. "Adjacent Markets Influence Over Electricity Trading—Iberian Benchmark Study." Energies 13, no. 11 (June 1, 2020): 2808. http://dx.doi.org/10.3390/en13112808.
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This paper presents a study on the impact of adjacent markets on the electricity market, realizing the advantages of acting in several different markets. The increased use of renewable primary sources to generate electricity and new usages of electricity such as electric mobility are contributing to a better and more rational way of living. The investment in renewable technologies for the distributed generation has been creating new opportunities for owners of such technologies. Besides the selling of electricity and related services (ancillary services) in energy markets, players can participate and negotiate in other markets, such as the carbon/CO2 market, the guarantees of origin market, or provide district heating services selling of steam and hot water among others. These market mechanisms are related to the energy market, originating a wide market strategy improving the benefits of using distributed generators. This paper describes several adjacent markets and how do they complement the electricity market. The paper also shows how the simulation of electricity and adjacent markets can be performed, using an electricity market simulator, and demonstrates, based on market simulations using real data from the Iberian market, that the participation in various complementary markets can enable power producers to obtain extra profits that are essential to cover the production costs and facilities maintenance. The findings of this paper enhance the advantages for investment on energy production based renewable sources and more efficient technologies of energy conversion.
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Masiello, Ralph, Jessica Harrison, and Rana Mukerji. "Market Dynamics of Integrating Demand Response into Wholesale Energy Markets." Electricity Journal 26, no. 6 (July 2013): 8–19. http://dx.doi.org/10.1016/j.tej.2013.06.006.
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