Market fundamentals, competition and natural-gas prices

Hulshof, Daan; Maat, Jan-Pieter Van der; Mulder, Machiel

doi:10.1016/j.enpol.2015.12.016

Cited by 86 publications

(45 citation statements)

References 17 publications

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“…Recent trends show that the gas market monopolization level has not decreased significantly in 2017. For the calculation, we use the Herfindahl-Hirschman index, which shows the industry monopolization level [7].…”

Section: Ordoliberalism and The Energy Policy Of Germanymentioning

confidence: 99%

Ordoliberal theory and gas market in Germany within the framework of international energy cooperation

2020

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German economic policy is a special model of a coordinated market economy, which is based on the tradition of ordoliberalism. This theoretical concept is at the core of the regulation of most economic processes in Germany, and its energy markets are no exception. The article analyses the present state of German gas industry, its transformation in connection with the introduction of the Third Energy Package, the liberalization and development of gas projects. The authors compare the main results of the reforms and the stipulations of the ordoliberal theory. The conclusion is that the German government generally upholds this concept, although sometimes the consequences are of negative nature, manifested in rising prices, added complexity of international natural gas trade, especially with the largest supplier -the Russian Federation. Using the Bertrand competition model, the article justifies the conditions under which the export of liquefied natural gas is beneficial for the Russian Federation.

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Section: Ordoliberalism and The Energy Policy Of Germanymentioning

confidence: 99%

Ordoliberal theory and gas market in Germany within the framework of international energy cooperation

2020

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“…The second objective function aims at minimizing the primary energy associated with the energy supply, as described in Equation 4:…”

Section: Scenarios and Objective Functionsmentioning

confidence: 99%

“…4 The high variability of electricity and gas prices is currently limited to the energy markets, as final consumers are usually paying a rather constant price. The variation of natural gas prices appears to be no more related to oil price, but rather to market competition and in some cases also to the electricity market.…”

Section: Introductionmentioning

confidence: 99%

“…The variation of natural gas prices appears to be no more related to oil price, but rather to market competition and in some cases also to the electricity market. 4 The high variability of electricity and gas prices is currently limited to the energy markets, as final consumers are usually paying a rather constant price. The unexpected variations of most final prices are generally limited to monthly variations.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Multicarrier energy systems: Optimization model based on real data and application to a case study

Noussan

Jarre

2017

Int J Energy Res

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Summary Multicarrier energy systems are increasingly used for a number of applications, among which the supply of electricity, heating, and cooling in buildings. The possibility of switching between different energy sources is a crucial advantage for the optimal fulfillment of the energy demand. The flexibility of these systems can benefit from the integration with smart grids, which have strong variations in time during their operation. The energy price is the parameter that is usually considered, but also the primary energy factor and the greenhouse gases emissions need to be accounted. This paper presents an application of an operational optimization method for a multicarrier energy system, based on real data–driven model and applied to different countries. The generation plant of a hospital is considered as case study, coping with multiple energy needs by relying on different conversion technologies. The optimal operation of the system shows a wide range of variability, depending on the chosen objective function, the hour of the day, the season, and the country. The results are affected mostly by the energy mix of the electricity supplied from the power grid, which has a direct influence on the primary energy consumption and the greenhouse gases emissions and an indirect influence on the electricity prices.

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“…A crucial difference between MCP and LP models is that in the former producers and shippers can choose to withhold supply in a given region to increase price, or else flood a market to gain long term market share. As regional gas prices are influenced by the balance between volumes supplied in long-term contracts and those traded on the spot market [23], MCP models are arguably better suited to describing price formation. Agent-based approaches which rely on profit maximisation have also been developed commercially [24] [25], but few details about how they work are publicly available.…”

Section: Introductionmentioning

confidence: 99%