Advertisement

Integration der europäischen Energiemärkte: Zielerreichung und Herausforderungen

  • Ulrich HeimeshoffEmail author
Aufsätze
  • 8 Downloads

Zusammenfassung

Die Integration der Energiemärkte stellt ein wesentliches Ziel der Europäischen Union im Zuge der Schaffung eines gemeinsamen Binnenmarktes dar. Auf diesem Weg soll grenzüberschreitender Energiehandel ermöglicht, der Wettbewerb gesteigert, Kosten gesenkt und letztendlich niedrigere Energiepreise sowohl für Unternehmen als auch für private Verbraucher realisiert werden. Die zu diesem Thema existierende Literatur fokussiert in der Regel auf die Integration der europäischen Stromgroßhandelsmärkte. Das vorliegende Papier analysiert den Grad der Zielerreichung, welcher bislang zu beobachten ist und identifiziert Handlungsbedarfe.

Schlüsselwörter

Europäischer Binnenmarkt Gemeinsamer Energiemarkt Marktintegration Market Coupling Erneuerbare Energien Grenzüberschreitender Energietransport 

Integration of european energy markets: achievements and challenges

Abstract

The integration of energy markets is an essential objective of the European Union in the course of creating a common internal market. Cross-border energy trading, increased competition, reduced costs, and ultimately lower energy prices for both businesses and private consumers should be realized. The existing literature on this topic focuses usually on the integration of Europe’s electricity wholesale markets. The present paper analyzes to which degree goals have been achieved and identifies necessary further actions.

Keywords

Common market Common energy market Market integration Market coupling Renewable energies Cross-border energy transmission 

Notes

Danksagung

Ich danke einem anonymen Gutachter sowie den Teilnehmern/-innen der Jahrestagung des Wirtschaftspolitischen Ausschusses des Vereins für Socialpolitik 2019 in Budapest für hilfreiche Kommentare.

Supplementary material

Literatur

  1. Ahlborn, D. (2015). Glättung der Windeinspeisung durch Ausbau der Windkraft? Energiewirtschaftliche Tagesfragen, 115, 1592–1601.Google Scholar
  2. Barthelmie, R. J., Murray, F., & Pryor, S. C. (2008). The economic benefit of short-term forecasting for wind energy in the UK electricity market. Energy Policy, 36, 1687–1696.CrossRefGoogle Scholar
  3. Bertsch, J., Growitsch, C., Lorenczik, S., & Nagl, S. (2016). Flexibility in europe’s power sector—an additional requirement or an automatic complement? Energy Economics, 53, 118–131.CrossRefGoogle Scholar
  4. Bhattacharyya, S. C. (2011). Energy economics, concepts, issues, markets and governance. Heidelberg, Berlin, New York: Springer.Google Scholar
  5. Böckers, V., & Heimeshoff, U. (2014). The extent of European power markets. Energy Economics, 46, 102–111.CrossRefGoogle Scholar
  6. Bollino, C., Ciferri, D., & Polinori, P. (2013). Integration and convergence in European electricity markets. Working Paper, PerugiaCrossRefGoogle Scholar
  7. Booz & Co., Newbery, D., Strbac, G., Pudjianto, D., Noël, P., & LeighFisher (2013). Benefits of an integrated European energy market. prepared for: Directorate-General Energy European Commission, BrüsselGoogle Scholar
  8. Bosco, B., Parisio, L., Pelagatti, M., & Baldi, F. (2010). Long-run relations in European electricity prices. Journal of Applied Econometrics, 25, 805–832.CrossRefGoogle Scholar
  9. Bundesministerium für Wirtschaft und Energie (2016). Gesetz zur Weiterentwicklung des Strommarktes (Strommarktgesetz) Google Scholar
  10. Bundesnetzagentur (2019). Market Coupling – Kopplung der europäischen Stromgroßhandelsmärkte, Bonn. https://www.bundesnetzagentur.de/DE/Sachgebiete/ElektrizitaetundGas/Unternehmen_Institutionen/HandelundVertrieb/EuropMarktkopplung/MarketCoupling.html. Zugegriffen: 22.10.2019.Google Scholar
  11. Bunn, D., & Gianfreda, A. (2010). Integration and shock transmissions across European electricity forward markets. Energy Economics, 32, 278–291.CrossRefGoogle Scholar
  12. Da Silva, P. P., & Soares, I. (2008). EU spot prices and industry structure: assessing electricity market integration. International Journal of Energy Sector Management, 2, 340–350.CrossRefGoogle Scholar
  13. Davis, P., & Garces, E. (2010). Quantitative techniques for competition and antitrust analysis. Princeton: Princeton University Press.Google Scholar
  14. Department of Energy & Climate Change (2015). The capacity market (amendment) rules Google Scholar
  15. Diebold, F., & Yilmaz, K. (2009). Measuring financial asset return and volatility Spillovers with application to global equity markets. Economic Journal, 119, 158–171.CrossRefGoogle Scholar
  16. Diebold, F., & Yilmaz, K. (2015). Financial and macroeconomic connectedness, a network approach to measurement and monitoring. Oxford: Oxford University Press.CrossRefGoogle Scholar
  17. ENTSO‑E (2009). Memo 2009 Google Scholar
  18. ENTSO‑E (2012). Statistical factsheet 2012 Google Scholar
  19. ENTSO‑E (2014). Statistical Factsheet 2014 Google Scholar
  20. ENTSO‑E (2017). Statistical factsheet 2017 Google Scholar
  21. Erdmann, G., & Zweifel, P. (2008). Energieökonomik, Theorie und Anwendungen. Heidelberg, Berlin, New York: Springer.Google Scholar
  22. Europäische Kommission (2018). Quarterly report on European electricity markets. Bd. 11(2).Google Scholar
  23. European Commission (2015). Energy union package, achieving the 10 % electricity interconnection target Google Scholar
  24. European Energy Exchange (2017). Price coupling of regions Google Scholar
  25. European Parliament, & Council of the European Union (2009). Directive 2009/72/EC concerning common rules for the internal market in electricity and repealing directive 2003/54/EC Google Scholar
  26. Forni, M. (2004). Using stationarity tests in antitrust market definition. American Law and Economics Review, 6, 441–464.CrossRefGoogle Scholar
  27. Gebhardt, G., & Höffler, F. (2013). How competitive is cross-border trade of electricity? Theory and evidence from European electricity markets. Energy Journal, 34, 125–154.CrossRefGoogle Scholar
  28. Grossi, L., Heim, S., Hüschelrath, K., & Waterson, M. (2018). Electricity market integration and the impact of unilateral policy reforms. Oxford Economic Papers, 70, 799–820.CrossRefGoogle Scholar
  29. Großmaß, L., & Heimeshoff, U. (2019). Measuring Spillover effects of electricity prices in europe and the role of renewables. Düsseldorf: Mimeo.Google Scholar
  30. Gugler, K., Haxhimusa, A., & Liebensteiner, M. (2018). Integration of European electricity markets: evidence from spot prices. Energy Journal, 39, 41–66.CrossRefGoogle Scholar
  31. Haldrup, N., Mollgaard, P., & Castberg Nielsen, C. (2008). Sequential versus simultaneous market definition: the relevant antitrust market for salmon. Journal of Competition Law & Economics, 4, 893–913.CrossRefGoogle Scholar
  32. Hamilton, J. D. (1994). Time series analysis. Princeton: Princeton University Press.Google Scholar
  33. Haucap, J., Heimeshoff, U., & Jovanovic, D. (2014). Competition in Germany’s minute reserve power market: an econometric analysis. Energy Journal, 35, 137–156.CrossRefGoogle Scholar
  34. Hobbs, B., Rijkers, F., & Boots, M. (2005). The more cooperation, the more competition? A Cournot analysis of the benefits of electric market coupling. Energy Journal, 26, 69–97.CrossRefGoogle Scholar
  35. Horowitz, J. (1981). Market definition in antitrust analysis: a regression-based framework. Southern Economic Journal, 48, 1–16.CrossRefGoogle Scholar
  36. Jacottet, A. (2012). Cross-border electricity interconnections for a well-functioning EU internal electricity market. Oxford: Oxford Institute for Energy Studies.Google Scholar
  37. Keppler, J.-H., Phan, S., Le Pen, Y., & Boureau, C. (2016). The impacts of intermittent renewable production and market coupling on the convergence of French and German electricity prices. Energy Journal, 37, 343–359.Google Scholar
  38. Knops, H., De Vries, L., & Hakvoort, R. (2001). Congestion management in the European electricity system: an evaluation of the alternatives. Competition and Regulation in Network Industries, 2, 311–352.CrossRefGoogle Scholar
  39. Lei, M., Shiyan, L., Chuanwen, J., Hongling, L., & Yan, Z. (2009). A review on the forecasting of wind speed and generated power. Renewable & Sustainable Energy Reviews, 13, 915–920.CrossRefGoogle Scholar
  40. Maubach, K.-D. (2014). Energiewende, Wege zu einer bezahlbaren Energieversorgung. Wiesbaden: Springer VS.Google Scholar
  41. Mauger, R. (2018). Forced nuclear energy reactors shutdown in France: the energy transition act’s mechanisms. Journal of World Energy Law and Business, 11, 270–281.CrossRefGoogle Scholar
  42. Meeus, L., Vandezande, L., Stijn, C., & Belmanns, R. (2009). Market coupling and the importance of price coordination between power exchanges. Energy Journal, 34, 228–234.CrossRefGoogle Scholar
  43. De Menezes, L., & Houllier, M. (2015). Germany’s nuclear powerplan closures and the integration of electricity markets in Europe. Energy Policy, 85, 357–368.CrossRefGoogle Scholar
  44. De Menezes, L., & Houllier, M. (2016). Reassessing the integration of European electricity markets: a fractional cointegration analysis. Energy Economics, 53, 132–150.CrossRefGoogle Scholar
  45. De Menezes, L., Houllier, M., & Tamvakis, M. (2016). Time-varying convergence in European electricity spot markets and their association with carbon and fuel prices. Energy Policy, 88, 613–627.CrossRefGoogle Scholar
  46. Ministere de l’Ecologie, du Developpement durable et de l’Energie (2015). Regle du mecanisme de capacite Google Scholar
  47. Nepal, R., & Jamasb, T. (2012). Interconnections and market integration in the Irish single electricity market. Energy Policy, 51, 425–434.CrossRefGoogle Scholar
  48. Nitsche, R., Ockenfels, A., Röller, L.-H., & Wiethaus, L. (2010). The electricity wholesale sector: market integration and competition. ESMT White Paper No. WP-110-01Google Scholar
  49. Oggioni, G., & Smeers, I. (2013). Market failures of market coupling and counter-trading in europe: an illustrative model based discussion. Energy Journal, 35, 74–87.Google Scholar
  50. Padgett, S. (1992). The single European energy market: the politics of realization. Journal of Common Market Studies, 30, 53–75.CrossRefGoogle Scholar
  51. Ringler, P., Keles, D., & Fichtner, W. (2017). How to benefit from a common Eurpean electricity market design. Energy Policy, 101, 629–643.CrossRefGoogle Scholar
  52. Robinson, T. (2007). The convergence of electricity prices in europe. Applied Economics Letters, 14, 473–476.CrossRefGoogle Scholar
  53. Sinn, H.-W. (2017). Buffering volatility: a study on the limits of Germany’s energy revolution. European Economic Review, 99, 130–150.CrossRefGoogle Scholar
  54. Stigler, G., & Sherwin, R. (1985). The extent of the market. Journal of Law & Economics, 28, 555–585.CrossRefGoogle Scholar
  55. Stoft, S. (2002). Power system economics, designing markets for electricity. New York: Wiley.Google Scholar
  56. Ströbele, W., Pfaffenberger, W., & Heuterkes, M. (2010). Energiewirtschaft, Einführung in Theorie und Politik (2. Aufl.). München: Oldenbourg.Google Scholar
  57. Turvey, R. (2006). Interconnector economics. Energy Policy, 34, 1457–1472.CrossRefGoogle Scholar
  58. Weber, A., Graeber, D. & A. Semmig (2010). Market Coupling and the CWE Project. Zeitschrift für Energiewirtschaft, 34, 303–309.CrossRefGoogle Scholar
  59. Werden, G., & Froeb, L. (1993). Correlation, causality, and all that jazz: the inherent shortcomings of price tests for antitrust market delineation. Review of Industrial Organization, 8, 329–353.CrossRefGoogle Scholar
  60. Zachmann, G. (2008). Electricity wholesale market prices in europe: convergence? Energy Economics, 30, 1659–1671.CrossRefGoogle Scholar

Copyright information

© List-Gesellschaft e.V. 2019

Authors and Affiliations

  1. 1.Düsseldorfer Institut für Wettbewerbsökonomie (DICE)Heinrich-Heine-Universität DüsseldorfDüsseldorfDeutschland

Personalised recommendations