Overview
- Revised and updated for the 2nd edition
- Introduces microeconomic concepts for the study of energy 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 these markets’ performance. Adopting a microeconomic perspective, it systematically analyses the various types of market failures on the electricity and gas markets as well as coal, oil, hydrogen and heat markets in order to identify government policies that can improve welfare. Critical factors in this regard include the natural monopoly and the public-goods character of energy infrastructures; market power structures 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 useto address these market failures, including incentive regulations 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.
This second, updated and expanded edition addresses recent developments in international energy markets that have resulted in extremely high prices and concerns about the markets’ ability to provide a secure energy supply. Further, it examines several countries’ intensified measures to implement the transition to a low-carbon energy system. 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.
“Given Mulder’s experience in government and academia, he provides a novel contribution to the literature by systematically analyzing different types of market failures and potential remedies offered by economic theory. Overall, Mulder’s textbook should be a valuable reference for students and energy policy analysts.”(J. Wesley Burnett, The Energy Journal, Vol. 43, Number 3)
Authors and Affiliations
About the author
Machiel Mulder is a Professor of Energy Economics 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/10.1007/978-3-031-16571-9
Publisher: Springer Cham
eBook Packages: Energy, Energy (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2023
Hardcover ISBN: 978-3-031-16570-2Published: 02 January 2023
Softcover ISBN: 978-3-031-16573-3Published: 03 January 2024
eBook ISBN: 978-3-031-16571-9Published: 01 January 2023
Series ISSN: 2195-1284
Series E-ISSN: 2195-1292
Edition Number: 2
Number of Pages: XXVIII, 390
Number of Illustrations: 15 b/w illustrations, 123 illustrations in colour
Topics: Environmental Economics, Energy Policy, Economics and Management, Microeconomics, Power Electronics, Electrical Machines and Networks