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The Future of the European Power Market

Author

Listed:
  • Fabio Genoese
  • Christian Egenhofer
  • Michael Hogan
  • Christian Redl
  • Markus Steigenberger
  • Patrick Graichen
  • Graham Weale

Abstract

The European power market is undergoing significant changes. The EU has set an ambitious goal of reducing its greenhouse gas emissions by 40 per cent by 2030. This will require significant investment in renewable energy sources such as wind and photovoltaics as well as measured policies to deal with the fluctuating capacity offered by these renewables. The integration of national power systems into a single European system would provide huge benefits in smoothing such fluctuations, enabling the EU power market to further increase its reliance on renewables. Current power generators and government regulators will inevitably face challenges adapting to the new market environment, but experience from other countries and regions could provide useful guidance. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Fabio Genoese & Christian Egenhofer & Michael Hogan & Christian Redl & Markus Steigenberger & Patrick Graichen & Graham Weale, 2015. "The Future of the European Power Market," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 50(4), pages 176-197, July.
    • Handle: RePEc:spr:intere:v:50:y:2015:i:4:p:176-197
    DOI: 10.1007/s10272-015-0541-3
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    Cited by:

    1. Gaudard, Ludovic & Madani, Kaveh, 2019. "Energy storage race: Has the monopoly of pumped-storage in Europe come to an end?," Energy Policy, Elsevier, vol. 126(C), pages 22-29.
    2. Pandžić, H. & Dvorkin, Y. & Carrión, M., 2018. "Investments in merchant energy storage: Trading-off between energy and reserve markets," Applied Energy, Elsevier, vol. 230(C), pages 277-286.
    3. Moret, Stefano & Babonneau, Frédéric & Bierlaire, Michel & Maréchal, François, 2020. "Overcapacity in European power systems: Analysis and robust optimization approach," Applied Energy, Elsevier, vol. 259(C).

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