Market-based Options for Security of Energy Supply

Christian Egenhofer, Kyriakos Gialoglou, Giacomo Luciani, Maroeska Boots, Martin Scheepers, Valeria Costantini, Francesco Gracceva, Anil Markandya and Giorgio Vicini
Additional contact information
Christian Egenhofer: CEPS
Kyriakos Gialoglou: CEPS
Giacomo Luciani: CEPS
Maroeska Boots: ECN
Martin Scheepers: ECN
Francesco Gracceva: ENEA and Fondazione Eni Enrico Mattei
Giorgio Vicini: Fondazione Eni Enrico Mattei

No 2004.117, Working Papers from Fondazione Eni Enrico Mattei

Abstract: Energy market liberalization and international economic interdependence have affected governments’ ability to react to security of supply challenges. On the other side, whereas in the past security of supply was largely seen as a national responsibility, the frame of reference has increasingly become the EU in which liberation increases security of supply mainly by increasing the number of markets participants and improving the flexibility of energy systems. In this logic, security of supply becomes a risk management strategy with a strong inclination towards cost effectiveness, involving both the supply and the demand side. Security of supply has two major components that interrelate: cost and risk. This paper focus the attention on costs in the attempt to develop a market compatible approach geared towards security of supply.

Keywords: Energy supply; Market-based options (search for similar items in EconPapers)
JEL-codes: Q41 Q43 (search for similar items in EconPapers)
Date: 2004-09
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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