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Regulation and Investments in Energy Markets

Book Description

Regulation & Investments in Energy Markets: Solutions for the Mediterranean presents the status of advancement and maturity of the Mediterranean energy policy, identifying patterns of development as well as lessons learned.

Mediterranean countries are facing unprecedented challenges in the energy sector which affect the entire region. Energy policy and regulation is the key to tackling energy efficiency challenges, and providing favorable conditions for engineering infrastructures, investments, and improving security of energy supply.

The assumption that the normative model, on which the EC energy policy is based, could be adopted outside EU boundaries has proven to be difficult to implement. This book looks at the Mediterranean regions search for a revised model for regulatory convergence and provides answers to those research questions, allowing the reader to understand the different technical, institutional, and financial frameworks for energy policy.

  • Contains a detailed overview of the specificities and institutional frameworks, giving greater clarity on existing energy practice
  • Provides recommendations and contributions from leading scholars and key players in energy policy research
  • Presents information from a region wide interdisciplinary approach based on specific industry information

Table of Contents

  1. Cover
  2. Title page
  3. Table of Contents
  4. Copyright
  5. Contributors
  6. Biographies
  7. Foreword
  8. Introduction
  9. Part I: A Roadmap for a Mediterranean Energy Community
    1. Chapter 1: The Regulatory Framework of the Energy Community in South East Europe: Considerations on the Transferability of the Concept
      1. Abstract
      2. 1. Introduction
      3. 2. Background of the EC concept
      4. 3. Transferring EU policies and mechanisms to SEE
      5. 4. The regional concept as a precondition
      6. 5. The role of investments in transmission networks
      7. 6. The role of regulatory agencies
      8. 7. Outline of investment incentive schemes
      9. 8. A different approach
      10. 9. Conclusions
    2. Chapter 2: Defining Euro-Mediterranean Energy Relations
      1. Abstract
      2. 1. The EU external energy policy: frameworks of analysis
      3. 2. Euro-Mediterranean energy relations
      4. 3. Issue (re)definition in the Mediterranean: the securitization of energy matters
      5. 4. Conclusions
    3. Chapter 3: Renewable Energy in the Southern and Eastern Mediterranean: Current Trends and Future Developments
      1. Abstract
      2. 1. Booming energy demand in SEMCs
      3. 2. The crucial role of electricity
      4. 3. Renewable energy potential of the region
      5. 4. The potential benefits of renewable energy in the region
      6. 5. SEMC national renewable energy plans
      7. 6. Barriers to the development of renewable energy in the region
      8. 7. Conclusions: toward a new Euro-Mediterranean renewable energy platform
    4. Chapter 4: Scaling Up Renewable Energy Deployment in North Africa
      1. Abstract
      2. 1. Energy systems in need of transformation
      3. 2. Initial steps to support deployment
      4. 3. Scaling up is challenging
      5. 4. Capitalizing on early steps to transform the energy sector and scale up renewables
    5. Chapter 5: The Renewable Energy Targets of the MENA Countries: Objectives, Achievability, and Relevance for the Mediterranean Energy Collaboration
      1. Abstract
      2. 1. Introduction
      3. 2. Background
      4. 3. Analysis
      5. 4. Transnational perspective
      6. 5. Conclusions
    6. Chapter 6: Toward a New Euro-Mediterranean Energy Roadmap: Setting the Key Milestones
      1. Abstract
      2. 1. Introduction: energy as a key prerequisite for sustainable regional development
      3. 2. The Euro-Med energy landscape: an overview
      4. 3. The first Euro-Med energy milestone: enhancing hydrocarbon cooperation in the region
      5. 4. The second Euro-Med energy milestone: challenging the persistence of energy subsidies
      6. 5. The third Euro-Med energy milestone: promoting energy efficiency
      7. 6. The fourth Euro-Med energy milestone: unlocking the renewable energy potential
      8. 7. The fifth Euro-Med energy milestone: promoting a new interconnected market
      9. 8. The sixth Euro-Med energy milestone: financing the sustainable energy transition
      10. 9. Conclusions: the need for a new Euro-Mediterranean energy roadmap
    7. Chapter 7: Toward a Mediterranean Energy Community: No Roadmap Without a Narrative
      1. Abstract
      2. 1. Introduction
      3. 2. Pathways toward a Mediterranean Energy Community
      4. 3. High expectations, harsh realities
      5. 4. Managing interdependency: elements for a Mediterranean Energy Community
      6. 5. Concluding remarks: developing a credible Euro-Mediterranean energy narrative
  10. Part II: Challenge of Market-Based Regulation
    1. Chapter 8: EU Pressures and Institutions for Future Mediterranean Energy Markets: Evidence from a Perception Survey
      1. Abstract
      2. 1. Introduction
      3. 2. Normative diffusion in the energy sector
      4. 3. Perception of rules promotion: results from a semistructured survey
      5. 4. Conclusions
      6. Acknowledgment
    2. Chapter 9: Analysis of Future Common Strategies Between the South and East Mediterranean Area and the EU in the Energy Sector
      1. Abstract
      2. 1. Introduction
      3. 2. Model description
      4. 3. Scenario description
      5. 4. The Reference Scenario
      6. 5. Alternative EU–SEM strategies
      7. 6. Conclusions
    3. Chapter 10: Benefits of Market Coupling in Terms of Social Welfare
      1. Abstract
      2. 1. Introduction
      3. 2. Day-ahead electricity markets in Europe
      4. 3. Benefits from electricity cross-border trading
      5. 4. Day-ahead market coupling
      6. 5. Benefits from pan-European market coupling
      7. 6. Some thoughts about cross-border trade between the Iberian electricity market (MIBEL) and Northern Africa
      8. 7. Conclusions
    4. Chapter 11: Power Market Structure and Renewable Energy Deployment Experiences From the MENA Region
      1. Abstract
      2. 1. Introduction
      3. 2. Unbundling of the power sector
      4. 3. Renewable energy and private sector participation
      5. 4. Renewable energy shares and targets
      6. 5. Conclusion – policy implications
    5. Chapter 12: Northern Perspective: Developing Markets Around the Baltic Sea
      1. Abstract
      2. 1. Introduction
      3. 2. Political and economic integration in the Baltic Region
      4. 3. Nordic electricity market – a success story
      5. 4. Gas – weakening Russian dominance
      6. 5. Increasing the role of the European Union
      7. 6. Conclusions
  11. Part III: Investments for Grids and Generation Projects
    1. Chapter 13: Private Participation in Energy Infrastructure in MENA Countries: A Global Perspective
      1. Abstract
      2. 1. Introduction
      3. 2. Global overview
      4. 3. Energy investment
      5. 4. Regional overview – the MENA region
      6. 5. Conclusions
    2. Chapter 14: Investment and Regulation in MENA Countries: The Impact of Regulatory Independence
      1. Abstract
      2. 1. Introduction
      3. 2. The establishment of regulatory authorities: pitfalls of the institutional endowment of countries
      4. 3. The regulatory and institutional landscape in MENA countries
      5. 4. Empirical analysis
      6. 5. Conclusions
    3. Chapter 15: Financing Mediterranean Electricity Infrastructure: Challenges and Opportunities for an Interconnected Mediterranean Grid
      1. Abstract
      2. 1. Introduction: regional energy context and OME vision
      3. 2. The challenge of financing infrastructure in SEMCs
      4. 3. Toward an interconnected Mediterranean grid: some regulatory perspectives
      5. 4. Policy implications and conclusions
    4. Chapter 16: New Regional and International Developments to Boost the Euro-Mediterranean Energy Sector
      1. Abstract
      2. 1. Introduction
      3. 2. Energy legal reforms in MENA countries
      4. 3. The new Euro-Mediterranean energy platforms
      5. 4. Toward a new European Neighbourhood Policy
      6. 5. The Energy Charter Treaty and the new International Energy Charter
      7. 6. Conclusions
      8. Disclaimer
    5. Chapter 17: Investing in Infrastructures: What Financial Markets Want
      1. Abstract
      2. 1. The utilities sector – a historical perspective
      3. 2. The role of institutional investors
      4. 3. The four key conditions to stimulate investments in infrastructures
      5. 4. Conclusions
  12. Subject Index