
Power Cut?
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Content
- Intro
- Box?1 Carbon taxes versus cap-and-trade schemes
- Box?2 Institutions matter
- Box?3 The natural monopoly problem
- Figure?1 EU28's gross inland consumption of energy by source (2013, left panel) and gross electricity generation by source (2013, right panel)
- Figure?2 Transmission and distribution grids within the power industry
- Figure?3 Supply and demand curves in the Italian Power Exchange (IPEX) on 10 December 2014 at 12 a.m.
- Figure?4 EU legislative framework for energy
- Figure?5 Regulatory conditions in the electricity sector (1975-2013) in Europe
- Figure?6 Renewable energy as a share of electricity generation compared with 2010 plans ('target')
- Figure?7 Main renewable energy support instruments in the EU27
- Figure?8 Average support to renewable energy production in the EU [?/MWh] by country
- Figure?9 Average support to renewable energy production in the EU(?/MWh) by technology
- Figure?10 Average CO2 abatement cost in some EU member states
- Figure?11 Share of renewable and non-renewable electricity production in EU28
- Figure?12 Hourly prices of power in the day-ahead market in Italy for the Sicily market zone on Wednesday, 12 May 2010 (left) and 14 May 2014 (right)
- Figure?13 Installed generating capacity by source (bars, left axis) versus final electricity consumption (line, right axis) in the EU28
- Figure?14 Energy-related CO2 emissions per capita and CO2 intensity in selected regions
- Table?1 Achievements of EU electricity directives
- Table?2 Overview of RES electricity support instruments by country and technology
- The author
- Foreword
- Acknowledgment
- Summary
- Tables, figures and boxes
- 1 Introduction
- Complex supply chains and state monopolies
- Tackling environmental concerns
- Summary
- PART 1
- The Theoretical Framework
- 2 The climate-energy nexus
- Carbon emissions and energy
- Are climate change policies inconsistent with broadly free markets?
- 3 Electricity - from power station to household
- Power systems
- 4 The natural monopoly problem in electricity
- Has technological progress killed the 'natural monopoly' argument?
- 5 Market clearing and the problem of renewables
- How the electricity market clears
- PART 2
- Liberalisation in Advance and Retreat
- 6 The EU before the 'liberalisation' of electricity
- The rise of the European regulatory state
- The European Commission's role in 'promoting' a 'free market' in energy
- 7 Liberalising electricity markets the British way
- The core of the British model
- The British retreat from the British model
- Price controls and interference in industrial structure
- Electricity market reform - back to central planning
- PART 3
- The EU, Electricity Deregulation and climate-driven Regulation
- 8 Liberalising electricity markets the EU way
- The first liberalisation package
- The second liberalisation package
- The third liberalisation package
- 9 Environmental regulation: the empire strikes back
- Renewable energy: environmental policy or industrial policy?
- The first renewable energy sources directive
- The second renewable energy sources directive
- 10 Environmental regulation - achieving carbon reduction at a high cost
- The cost of renewable support schemes
- Directives pulling in opposite directions
- PART 4
- Electricity Liberalisation Versus Climate Interventionism
- 11 Distortions from subsidies for renewables
- Price distortions
- Quantity distortions
- Quality distortions
- 12 The new world of overcapacity
- 13 Capacity support schemes: the wrong answer
- Do markets under-supply reliability?
- Second-best interventions
- Defects of capacity remuneration mechanisms
- Capacity schemes in practice
- Providing capacity in the market
- PART 5
- From Planning to Market
- 14 The EU 2030 climate and energy policy framework: one step forward, one step back
- Good news and bad news from the 2030 package
- Why did the emissions trading system 'fail'?
- Challenges for emissions trading system reform
- 15 The way forward: laissez-faire
- Cutting carbon emissions the expensive way
- Cutting greenhouse gases efficiently
- Summary
- 16 Conclusion
- From state control to liberalisation in the UK
- Attempts at liberalisation in the EU
- Misconceived climate policies
- Fundamental misunderstandings
- References
- About the IEA
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