scholarly journals How Responsive Are EU Coal-Burning Plants to Changes in Energy Prices?

2015 ◽  
Vol 15 (3) ◽  
pp. 1481-1506
Author(s):  
Andrew Meyer ◽  
Grzegorz Pac
Keyword(s):  
Natural Gas ◽  
Carbon Emissions ◽  
Energy Prices ◽  
The European Union ◽  
Coal Consumption ◽  
Trading System ◽  
Coal Price ◽  
Eu Countries ◽  
Coal Burning ◽  
Gas Price

Abstract The European Union (EU) Emissions Trading System (ETS) has implicitly made it more expensive to burn coal relative to natural gas because coal has a higher carbon content. Therefore, it is important to understand how much plants reduce their coal usage in response to higher coal prices to assess the effectiveness of the ETS in reducing carbon emissions. We analyze a novel panel of coal-burning large combustion plants from a subsample of eight EU countries and found that, holding constant the natural gas price, a 1% increase in the coal price results in a 0.36% decrease in coal consumption. At current ETS prices, this implies that the average large combustion plant in our sample EU countries is burning 7% less coal than it would be absent in the ETS. This suggests that the ETS has significantly reduced carbon emissions from coal-fired plants for the eight countries represented in our sample.

scholarly journals Information Linkage between Carbon and Energy Markets: Multiplex Recurrence Network Approach

Complexity ◽  
2020 ◽  
Vol 2020 ◽  
pp. 1-12 ◽  
Author(s):  
Hua Xu ◽  
Minggang Wang ◽  
Weiguo Yang
Keyword(s):  
Time Delay ◽  
Natural Gas ◽  
Carbon Price ◽  
Energy Markets ◽  
Carbon Markets ◽  
Energy Prices ◽  
The European Union ◽  
Linkage Relationship ◽  
Leading Role ◽  
Carbon Prices

In this paper, a multilayer recurrence network is introduced to examine the information linkage between carbon and energy markets. We first construct a multilayer recurrence network of energy and carbon markets, and we define the information linkage coefficient to measure the linkage relationship between the network layers based on the network microstructure. To measure the mutual leading relationship between carbon and energy markets, we construct a time-delay multilayer recurrence network and introduce the time-delay information linkage coefficient to measure the intersystem interaction. The carbon and energy prices, including West Texas Intermediate crude oil, coal, natural gas, and gasoline, from February 22, 2011, to April 1, 2019, are selected as sample data for empirical analysis. The results show that the linkage relationship between oil, coal, natural gas, and carbon prices presents a U-shaped trend in the second, transitional, and third phases of the European Union carbon market, while the linkage trend of gasoline and carbon prices continues to rise. The mutual leading relationship between energy and carbon prices changes in different stages, and carbon price plays a leading role at the present stage.

scholarly journals The Situation of Households on the Energy Market in the European Union: Consumption, Prices, and Renewable Energy

Energies ◽  
2021 ◽  
Vol 14 (19) ◽  
pp. 6364
Author(s):  
Aleksandra Matuszewska-Janica ◽  
Dorota Żebrowska-Suchodolska ◽  
Agnieszka Mazur-Dudzińska
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Negative Impact ◽  
Renewable Energy Sources ◽  
Energy Market ◽  
Modern World ◽  
Energy Prices ◽  
The European Union ◽  
Eu Countries ◽  
The Eu

Energy plays a crucial role in the modern world. The acquisition and consumption of energy is unfortunately associated not only with economic development or the facilitation of everyday life, but also with a negative impact on the environment. To prevent these, measures are being taken which are part of a broad programme referred to as sustainable energy development (SED). A special place among energy consumers is occupied by households, as access to energy is a fundamental factor affecting the quality of life. The aim of this paper is to look at and assess the current situation of the household sector in the EU energy market in the context of SED and to point out similarities and differences between EU countries. The analysis considers factors based on SED indicators: final energy consumption per capita, energy prices offered to households, and the share of renewable energy in household energy consumption. The k-means method was used as a research tool. The results obtained indicate first of all that the EU countries are highly differentiated in terms of the analysed factors. It can be said that these differences result not only from the wealth of a given country, geographical location, or natural possibilities to use renewable energy sources, but mainly from the energy policies implemented in individual countries.

scholarly journals The European Union Emissions Trading System reduced CO2 emissions despite low prices

2020 ◽  
Vol 117 (16) ◽  
pp. 8804-8812 ◽  
Author(s):  
Patrick Bayer ◽  
Michaël Aklin
Keyword(s):  
European Union ◽  
Carbon Emissions ◽  
Emissions Trading ◽  
Carbon Markets ◽  
Eu Ets ◽  
The European Union ◽  
Trading System ◽  
Market Prices ◽  
Emissions Trading System ◽  
The Eu

International carbon markets are an appealing and increasingly popular tool to regulate carbon emissions. By putting a price on carbon, carbon markets reshape incentives faced by firms and reduce the value of emissions. How effective are carbon markets? Observers have tended to infer their effectiveness from market prices. The general belief is that a carbon market needs a high price in order to reduce emissions. As a result, many observers remain skeptical of initiatives such as the European Union Emissions Trading System (EU ETS), whose price remained low (compared to the social cost of carbon). In this paper, we assess whether the EU ETS reduced CO2 emissions despite low prices. We motivate our study by documenting that a carbon market can be effective if it is a credible institution that can plausibly become more stringent in the future. In such a case, firms might cut emissions even though market prices are low. In fact, low prices can be a signal that the demand for carbon permits weakens. Thus, low prices are compatible with successful carbon markets. To assess whether the EU ETS reduced carbon emissions even as permits were cheap, we estimate counterfactual carbon emissions using an original sectoral emissions dataset. We find that the EU ETS saved about 1.2 billion tons of CO2 between 2008 and 2016 (3.8%) relative to a world without carbon markets, or almost half of what EU governments promised to reduce under their Kyoto Protocol commitments. Emission reductions in sectors covered under the EU ETS were higher.

scholarly journals The Three Seas Initiative and its Economic and Geopolitical Effect on the European Union and Central and Eastern Europe

2019 ◽  
Vol 22 (2) ◽  
pp. 105-119 ◽  
Author(s):  
Grzegorz Zbińkowski
Keyword(s):  
European Union ◽  
Natural Gas ◽  
Crude Oil ◽  
Eastern Europe ◽  
Energy Security ◽  
Central And Eastern Europe ◽  
The European Union ◽  
Eu Countries ◽  
Oil And Natural Gas ◽  
The Eu

The objective of this paper is a presentation of results of an analysis of the Three Seas Initiative (TSI), whose participating countries (except Austria) treat it as a method of: a) reducing their dependence on crude oil and natural gas imports from Russia, thus increasing their energy security; b) accelerated filling of the persisting civilisation gap between the initiative participants and more developed EU countries owing to the improved quality and maturity of the transport and digital North‑South infrastructure; and c) the actual implementation of the “vision of a Europe whole, free and at peace.” The analysis has assumed the following research hypothesis: The CEE states’ joining the EU has not markedly changed those states’ development, as material differences do still exist in this respect between the new EU states and the old ones, which was verified positively.

scholarly journals DIRECTIONS OF DEVELOPMENT OF EXPORT SUPPLIES OF NATURAL GAS USING UGS.

2021 ◽  
Vol 71 (1/2021) ◽  
pp. 69-83
Author(s):  
Aleksander A. Ilinskiy ◽  
◽  
Pavel S. Bukharin ◽  
Julia V. Soloveva ◽  
Irina M. Zaychenko ◽  
...  
Keyword(s):  
Natural Gas ◽  
Business Processes ◽  
Optimal Solution ◽  
Gas Storage ◽  
European Countries ◽  
The European Union ◽  
Systematic Analysis ◽  
Eu Countries ◽  
The Eu ◽  
Storage Facilities

The relevance of the topic of the article is determined by the trends that have emerged in recent years, the diversification of primary energy sources and their suppliers in the EU countries, which, with increased competition in the energy markets, requires Gazprom to optimize the export of natural gas. Underground storage facilities for natural gas (UGS) are an important element of the company's export logistics. The purpose of the study was a systematic analysis of the problems, prospects and strategic directions of the development of underground gas storage facilities in the export of Russian gas to Europe. The role of UGS in the system of ensuring the sustainability and efficiency of contractual supplies of natural gas to consumers of the European Union (EU) is determined. The dynamics and forecast of the development of gas storage facilities of the Gazprom Group of Companies in European countries are determined. The dynamics and forecast of the development of gas storage facilities of the Gazprom Group of Companies in Russia and European countries are determined. The main UGS used by the Gazprom Group of Companies abroad are considered. The optimal solution for gas storage facilities with active use of natural gas in the energy balance of the countries is shown. The concept and directions of reconstruction of existing UGS based on digitalization of business processes of storage and selection of natural gas to consumers are justified. The prospects for the development of a system of intelligent underground natural gas storage facilities are determined. The seasonal balance of gas storage capacity in the EU countries is analyzed, including the assessment of gas filling and UGS productivity in the EU countries. On this basis, the necessary capacities of gas storage facilities to cover the peak demand for natural gas importing countries are justified. The article also traces the dynamics of changes in the gas storage capacities of the main natural gas importing countries of the Gazprom Group and the Central European countries for the period 2016–2020 and provides recommendations for their strategic development.

scholarly journals Industrial production of natural gas in the North and Arctic regions of the Russian Federation and prospects for its implementation in the EU market

2020 ◽  
Vol 84 ◽  
pp. 03005
Author(s):  
Mikhail Ulchenko
Keyword(s):  
Natural Gas ◽  
Russian Federation ◽  
Industrial Production ◽  
Gas Production ◽  
Yamal Peninsula ◽  
The European Union ◽  
Eu Countries ◽  
The North ◽  
The Russian Federation ◽  
The Eu

The paper is devoted to the study of industrial production of natural gas in the regions of the North and Arctic of the Russian Federation and the prospects for its implementation in the market of the European Union. It is shown that the main production is concentrated in the Yamal-Nenets Autonomous district, where up to 75% of the total gas production is produced. Gas is transported both by means of a well-developed pipeline network connecting the Yamal Peninsula with European countries, and in a liquefied state, using gas carriers of the appropriate ice class. At the same time, despite all the efforts of the EU countries to reduce energy consumption, gas consumption is growing. This is due to the decline in production within the Union itself, as well as the desire to use more environmentally friendly energy sources. The analysis conducted in the course of the study showed that Qatar and Russia can actually increase the volume of deliveries in the near future. These exporters have a number of advantages that, in our opinion, will allow them to increase their presence in the energy market of the EU countries - significant reserves of natural gas, availability of production capacity, opportunities to increase the volume of transportation, and the most attractive price for end users.

World’s Largest Gas-Producing Nations: Natural Gas Will Keep the Lights on for the Next Generation

2021 ◽  
Vol 73 (04) ◽  
pp. 18-21
Author(s):  
Pat Davis Szymczak
Keyword(s):  
Natural Gas ◽  
Energy Demand ◽  
Carbon Capture ◽  
Fossil Fuels ◽  
Electricity Production ◽  
Energy Prices ◽  
The European Union ◽  
Global Energy ◽  
Renewable Sources ◽  
Energy Mix

Natural gas is almost certain to be the fastest-growing fossil fuel in the global energy mix for decades to come, comprising 28% of the global energy mix by 2050. Together with renewables, natural gas will likely fuel 60% of global electricity production, be it as pipeline gas, liquefied natural gas (LNG), or blue hydrogen. These are among the forecasts that appear in the 2020 edition of the GECF (Gas Exporting Countries Forum) Global Gas Outlook 2050 released in February 2021 and providing short-, medium-, and long-term energy projections based on assumptions regarding macroeconomic conditions, energy prices, and policies. The report is updated yearly and is the flagship publication of the organization, which represents countries that control 71% of global gas reserves. It is unique in that it focuses exclusively on the global gas industry, which today is providing for 23% of global energy needs. Headquartered in Doha, Qatar, the GECF is an intergovernmental organization comprising 11 member countries and nine observer states, established in 2001 by Russia and Iran. Moscow and Tehran had hoped that GECF would eventually morph into a “Gas OPEC” but that never happened. The organization’s analyses and forecasts do, however, present a worthwhile snapshot of how the world’s largest gas producers see the industry. Member states in GECF include Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, and Venezuela. Observer countries are Angola, Azerbaijan, Iraq, Kazakhstan, Malaysia, Norway, Oman, Peru, and the UAE. Unconventional Gas To Play Growing Role In its report, the GECF noted that unconventional resources will be playing a growing role in the market and that gas producers will need to emphasize unconventional projects to satisfy growing demand, as well as to invest heavily into exploration to identify and tap into new gas reserves and develop greenfield projects. “It is also important to highlight the increasing interest in hydrogen as a lever to support the deep decarbonization of the world’s economies,” Yury P. Sentyurin, GECF’s Secretary General, wrote in his introduction to the annual outlook. In mentioning hydrogen, Sentyurin is speaking about “blue hydrogen” which is produced from natural gas, and which, when combined with CCUS (carbon capture, utilization, storage) can marry commercial and environmental interests, further positioning natural gas as a transition fuel to bridge the gap between fossil fuels and renewable sources of energy. Blue hydrogen is in fact expected to satisfy half of the hydrogen demand projected worldwide by 2050, Sentyurin points out. Policies being set by countries in the European Union have focused more on costly “green hydrogen” produced from renewable sources; but not in the policies of other nations in regions of the world where growth in energy demand is expected to be the highest. Growth in European energy demand is largely flat.

Gas supply security model to EU consumers

2020 ◽  
Keyword(s):  
Natural Gas ◽  
Policy Instruments ◽  
Pipeline System ◽  
Security Model ◽  
Transportation Services ◽  
Eu Countries ◽  
European Consumer ◽  
Gas Price ◽  
Gas Supply ◽  
The Eu

Recently, the problem of choosing methods of establishing transit tariffs for natural gas transportation services to consumers of EU countries and finding ways to adapt them to the conditions of an international gas transportation consortium (IGTC) has become even more significant. The subject of the article is the problems of Ukrainian gas supply security to consumers of the EU countries using international economic and legal mechanisms. The purpose of the article is to develop a methodology for regulating transit Ukrainian-European gas supplies by creating IGTC "Ukraine-EU" to increase competition and establish an acceptable and mutually beneficial gas price for the end European consumer and for the gas transportation system itself. Research objectives: substantiating the solution of the problems associated with gas transit with the help of economic policy instruments; developing a method of forming IGTC "Ukraine-EU". General scientific research methods were used: synthesis, analysis, systematic approach, statistical analysis of international tariff setting practice application to resolve controversial issues related to the transit of natural gas. Main results and their scientific novelty. Based on the forecast of growth in demand for natural gas in the EU, the author shows the effectiveness of forming IGTC "Ukraine-EU" to ensure reliable gas transit through the territory of Ukraine. A unified mechanism for transit gas supplies through the gas pipeline system of Ukraine under the conditions of the functioning of the “Ukraine-EU” consortium has been proposed. Conclusions: using the mechanism for coordinating the interests of individual participants with the proposed methods will significantly raise the level of security of gas supplies to consumers in the EU countries - both within the framework of the proposed gas transportation consortium with European countries, and for other gas transportation projects.

EXPERIENCE, PROSPECTS AND PROBLEMS OF COOPERATION BETWEEN CHINA AND TURKMENISTAN IN THE FIELDOF NATURAL GAS

2019 ◽  
pp. 323-329
Author(s):  
Y. JIA
Keyword(s):  
Natural Gas ◽  
Central Asia ◽  
Oil And Gas ◽  
The European Union ◽  
Multilateral Cooperation ◽  
Industrial Chain ◽  
The Usa ◽  
Gas Consumption ◽  
Slow Progress ◽  
Natural Gas Consumption

Since 2007, the use of natural gas in China depends on the import, and with an increase in natural gas consumption, gas imports are also constantly growing. In 2018, Chinas natural gas imports approached 100 billion cubic meters, which is 70 times more than in 2006. In recent years, increasing attention has been paid to the use of natural gas in China. Turkmenistan is Chinas main source of pipeline gas imports, and China is Turkmenistans largest exporter of natural gas. In the framework of the traditional model of oil and gas cooperation, China and Turkmenistan are facing such problems as the uniform content of cooperation, lack of close ties in the field of multilateral cooperation and slow progress in the development of the entire industrial chain. Cooperation between China and Central Asia in the field of oil and gas is increasingly affecting the nerves of other countries, except the five countries of Central Asia, but including Russia, Afghanistan, Pakistan, India, Iran and other countries of the Middle East, Japan, South Korea, etc. and even the European Union and the USA. Despite the favorable trading environment for both parties, there are also problems in the domestic market of Turkmenistan and the risks of international competition.

Constitutional and Legal Restrictions in the European Union Countries in the Context of the COVID 19 Pandemic

2020 ◽  
pp. 92-97
Author(s):  
A. V. Kuznetsov
Keyword(s):  
European Union ◽  
Human Rights ◽  
Comparative Analysis ◽  
International Law ◽  
The European Union ◽  
Eu Countries ◽  
European Union Countries ◽  
Legal Restrictions ◽  
Restrictive Measures ◽  
The Eu

The article examines the norms of international law and the legislation of the EU countries. The list of main provisions of constitutional and legal restrictions in the European Union countries is presented. The application of the norms is described Human rights conventions. The principle of implementing legal acts in the context of the COVID-19 pandemic is considered. A comparative analysis of legal restrictive measures in the States of the European Union is carried out.

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