Overview
- Introduces microeconomic concepts for the study of energy markets
- Assesses various types of market failure in the electricity and gas markets
- Discusses policy measures for the effective regulation of energy markets
Part of the book series: Lecture Notes in Energy (LNEN, volume 80)
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Table of contents (12 chapters)
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Front Matter
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Back Matter
Keywords
- Energy economics
- Electricity and gas markets
- Economics of regulating markets
- Sustainable energy systems management
- Regulation of energy markets
- Energy policy
- Market failures in energy markets
- Externalities
- Public goods in energy markets
- Environmental regulatory measures
- Supply chain in energy markets
- Microeconomic perspective on regulating energy markets
- Market power in wholesale markets
- Consumption of fossil energy
- European markets for gas and electricity
- Energy Security
About this book
This textbook explains the main economic mechanisms behind energy markets and assesses how governments can implement policies to improve how these markets function. Adopting a micro-economic perspective, the book systematically analyses the various types of market failures on the electricity and gas markets as well as coal, oil, hydrogen and heat markets to identify government policies that can improve welfare. These shortcomings include the natural monopoly and the public-good character of energy infrastructures; market power resulting from inflexibility of supply and demand; international trade restrictions; negative externalities concerning the use of fossil energy; positive externalities concerning innovative new energy technologies; information asymmetries with regard to the product characteristics of energy commodities; and other public concerns, such as energy poverty.
In turn, readers will learn about various measures that governments can use to address these market failures, including incentive regulation for electricity grids; international integration of wholesale energy markets; environmental regulatory measures like emissions trading schemes; subsidy schemes for new technologies; green-energy certificate schemes; and energy taxes. Given its scope, the book will appeal to upper-undergraduate and graduate students from various disciplines who want to learn more about the economics and regulation of energy systems and markets.
Reviews
Authors and Affiliations
About the author
Machiel Mulder is a Professor of Regulation of Energy Markets and Director of the Centre for Energy Economics Research at the University of Groningen, the Netherlands. Previously he was Chief Economic Advisor at the Dutch energy regulator and Head of the Energy Department at the Netherlands Bureau for Economic Policy Analysis.
Bibliographic Information
Book Title: Regulation of Energy Markets
Book Subtitle: Economic Mechanisms and Policy Evaluation
Authors: Machiel Mulder
Series Title: Lecture Notes in Energy
DOI: https://doi.org/10.1007/978-3-030-58319-4
Publisher: Springer Cham
eBook Packages: Energy, Energy (R0)
Copyright Information: Springer Nature Switzerland AG 2021
Softcover ISBN: 978-3-030-58321-7Published: 17 October 2021
eBook ISBN: 978-3-030-58319-4Published: 16 October 2020
Series ISSN: 2195-1284
Series E-ISSN: 2195-1292
Edition Number: 1
Number of Pages: XXVI, 361
Number of Illustrations: 21 b/w illustrations, 103 illustrations in colour
Topics: Environmental Economics, Energy Policy, Economics and Management, Microeconomics, Power Electronics, Electrical Machines and Networks