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The EU ETS: Eight Years and Counting

This paper provides an introduction to the EU's Emissions Trading System. As such it provides a discussion of the historical and legal context in which the EU ETS developed and now operates, a presentation of the key performance indicators for the first eight years through the end of the second phase in 2012, and some concluding observations on the system's future. The paper is purposively descriptive ...

Municipal infrastructure companies against the background of energy policy and demographic change (KOMIED) – Empirical analyses using micro level data of the energy, water and waste sector

Municipal infrastructure firms are facing major challenges. On the one hand, they are operating under an increased pressure to reduce costs due to growing intensive competition and shifting regulatory processes. On the other hand, they have to fulfill new environmental requirements that result from new energy and climate policy objectives and demographic changes. Recent privatizations have not...

Market Driven Power Plant Investment Perspectives in Europe: Climate Policy and Technology Scenarios until 2050 in the Model EMELIE-ESY

In the framework of the Energy Modeling Forum 28, we investigate how climate policy regimes affect market developments under different technology availabilities on the European power markets. We use the partial equilibrium model EMELIE-ESY with focus on electricity markets in order to determine how private investors optimize their generation capacity investment and operation over the horizon 2010 to ...

Crop Failures and Export Tariffs

We analyse a stylized model of the world grain market characterized by a small oligopoly of traders with market power on both the supply and demand side. Crops are stochastic and exporting countries can impose export tariffs to protect domestic food prices. Our first results is that export tariffs are strategic complements and that for poor harvests equilibrium tariffs can explode (shedding some light ...

Financing LNG Projects and the Role of Long-Term Sales-and-Purchase Agreements

The financing of infrastructures is a major topic in recent energy policy debates. Project finance, as a specialized form of debt finance, thereby has become a well-established financing tool. This paper contributes a qualitative and quantitative analysis of the determinants of the debt ratio in project finance, using data on 26 liquefied natural gas (LNG) export and import projects. We argue that ...

The EU’s 2030 Climate and Energy Framework and Energy Security

Strategic Behaviour in Energy Markets: Advances in Complementarity and Multi-Stage Equilibrium Modelling ; Dissertation

Diese Dissertation untersucht mehrere energiewirtschaftliche Fragestellungen, in denen Marktmacht eine besondere Rolle spielt; mittels spieltheoretischer Ansätze werden die strategischen Interaktionen mathematisch formuliert und anhand numerischer Methoden Gleichgewichte der Spiele identifiziert. Der Beitrag zum wissenschaftlichen Diskurs rund um den Themenbereich Marktmacht in der Energiewirtschaft ...

Supplier Fixed Costs and Retail Market Monopolization

Considering a vertical structure with perfectly competitive upstream firms that deliver a homogenous good to a differentiated retail duopoly, we show that upstream fixed costs may help to monopolize the downstream market. We find that downstream prices increase in upstream firms’ fixed costs when both intra- and interbrand competition exist. Our findings contradict the common wisdom that fixed costs ...

Financial Incentives for Low Carbon Investment: Dissertation

Zur Bekämpfung des Klimawandels haben politische Entscheidungsträger auf europäischer, nationaler und regionaler Regierungsebene CO2-Reduktionsziele formuliert, die erhebliche Investitionen erfordern. Studien haben zahlreiche Marktbarrieren ermittelt, die diese Investitionen verhindern. Zur Überwindung dieser Barrieren wurden regulatorische, preis- und informationsbasierte Politikinstrumente implementiert. ...

The Welfare Impact of Parallel Imports: A Structural Approach Applied to the German Market for Oral Anti-Diabetics

We investigate the welfare impact of parallel imports using a large panel dataset containing monthly information on sales, ex-factory prices, and further product characteristics for all 649 anti-diabetic drugs sold in Germany between 2004 and 2010. We estimate a two-stage nested logit model of demand, and on the basis of an oligopolistic model of multi-product firms, we then recover the marginal costs ...