Regulation and Investments in Energy Markets

Regulation and Investments in Energy Markets

Solutions for the Mediterranean

1st Edition - December 2, 2015

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  • Editors: Alessandro Rubino, Ilhan Ozturk, Veronica Lenzi, Maria Teresa Campi
  • Paperback ISBN: 9780128044360
  • eBook ISBN: 9780128044766

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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.

Key Features

  • 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


Professional/practitioner audience, graduate-level academia, policy making experts, practitioners and officers in European energy planning offices and environmental, economic, international relations, and political science researchers from academia and research institutions

Table of Contents

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

Product details

  • No. of pages: 384
  • Language: English
  • Copyright: © Academic Press 2015
  • Published: December 2, 2015
  • Imprint: Academic Press
  • Paperback ISBN: 9780128044360
  • eBook ISBN: 9780128044766

About the Editors

Alessandro Rubino

Alessandro Rubino is Assistant Professor in Economics at Jonian Department of Law, Economics and Environment at the University of Bari Aldo Moro. Alessandro has worked extensively on energy market integration in the Mediterranean region focussing its work and research on investment under uncertainty in energy infrastructures. He has worked as Senior Manager for international consultancy services and National regulatory authorities for gas and electricity markets. Alessandro holds a PhD in economics from Siena University and is currently member of the editorial board of the Journal Energy Sources, Part B: Economics, Planning and Policy.

Affiliations and Expertise

Assistant Professor in Economics at Jonian Department of Law, Economics and Environment at the University of Bari Aldo Moro

Ilhan Ozturk

Dr. Ilhan Öztürk is Professor of Economics at Cag University, Mersin, Turkey, where he is also the Director of the Higher Vocational School. His research interests include energy economics and international economics. He has published more than 155papers in international journals such as Energy Economics, Energy Policy, Applied Energy, Renewable and Sustainable Energy Reviews, Ecological Indicators, Energy and etc. and participated in many international conferences. He has been invited as a Keynote Speaker in several international conferences. He is the editor of IJEEP and IJEFI and he has been member of editorial board in many international journals.

Affiliations and Expertise

Cag University, Mersin and IJEEP; IJEFI, Mersin, Turkey

Veronica Lenzi

Veronica Lenzi holds a Ph.D. in Political Systems and Institutional Change from the IMT Institute for Advanced Studies of Lucca, Italy. Her research interests concern geopolitics of energy, structure and administrative reforms of regulatory authorities and international economy of energy.

Affiliations and Expertise

IMT Institute for Advanced Studies of Lucca, Italy

Maria Teresa Campi

Maria Teresa Costa Campi is a Doctor of Economic Science and Professor of Economics at the University of Barcelona (UB). Currently she is Director of the Chair of Energy Sustainability at the University of Barcelona, a post held since 2012, and has been General Coordinator of the FUNSEAM project since 2013.

She has been President of the National Energy Commission (2005-2011), President of the Association of Energy Regulators (2005-2012), President of the Iberian Electricity Market (MIBEL) (2006-2007), Vice President of MEDREG (2010-2011)

Affiliations and Expertise

University of Barcelona, Spain; National Energy Commission (2005-2011); Association of Energy Regulators (2005-2012); Iberian Electricity Market (MIBEL) (2006-2007); MEDREG (2010-2011)

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