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Capacity Mechanisms in EU Energy Markets: Law, Policy, and Economics, 2nd Edition

Capacity Mechanisms in EU Energy Markets: Law, Policy, and Economics, 2nd Edition

Author: Leigh Hancher; Adrien de Houteclocque; Malgorzata Sadowska
Publisher: Oxford University Press
ISBN: 9780192849809
Published In: November 2022
Format: Hardback , 512 pages
Jurisdiction: European Union ? Disclaimer:
Countri(es) stated herein are used as reference only

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Contents
Author

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Capacity remuneration mechanisms (or simply capacity mechanisms) have become a fact of life in member states' energy markets and are one of the hottest topics in the wider European regulatory debate. Concerned about the security of electricity supply, national governments are implementing subsidy schemes to encourage investment in conventional power generation capacity, alongside already heavily subsidized renewable energy sources. With the increasingly connected European electricity markets, the introduction of a capacity mechanism in one country not only tends to distort its national market but may also have unforeseeable consequences for neighbouring electricity markets. As these mechanisms are adopted by member states with limited supra-national coordination as well as consideration for the cross-border impact, they tend to cause serious market distortions and put the future of the European internal electricity market at risk.

This second edition will take stock of how capacity mechanisms have actually worked so far and consider the consequences they have for the European internal electricity market. It will include a detailed overview of national capacity mechanisms, their implications for the EU internal market, and will outline the nature of market failures which are likely to occur in the European electricity markets. This edition is intended to serve as a point of reference for regulators and policy-makers on how to design optimal capacity mechanisms in Europe. It will be an invaluable resource for anyone interested in energy market design, regulation, and competition issues.

New to this Edition:
- Reflects the new legal framework adopted by the EU since the first edition
- Two entirely new chapters have been added - one focussing on resource adequacy in the new legal framework and one new country-specific chapter on Ireland
Part I: Policy
1: Francisco Enrique González-Díaz: EU Policy on Capacity Mechanisms
2: Alberto Pototschnig and Martin Godfried: The Regulators' View: ACER's Report on Capacity Mechanisms and the EU Internal Electricity Market
3: Arthur Henriot and Jean-Michel Glachant: Capacity Mechanisms in the European Market: Now, but How?
Part II: Economics
4: Jens Perner and Christoph Riechmann: Energy Market Design with Capacity Mechanisms
5: Fabien Roques and Charles Verhaeghe: Different Approaches for Capacity Mechanisms in Europe: Rationale and Potential for Coordination?
6: Dominique Finon: Capacity Mechanisms and Cross-Border Participation: The EU Integrated Approach in Question
7: Carlos Batlle, Paolo Mastropietro, Pablo Rodilla, and José Ignacio Pérez-Arriaga: The System Adequacy Problem: Lessons Learned from the American Continent
8: Bert Willems: The Generation Mix, Price Caps, and Capacity Payments
Part III: Law
9: Leigh Hancher: Capacity Mechanisms and State Aid Control: A European Solution to the 'Missing Money' Problem?
10: Adrien de Hauteclocque and Malgorzata Sadowska: Antitrust Law: A Missing Piece in a Regulatory Puzzle?
11: Peter Oliver: Free Movement of Goods in the Labyrinth of Energy Policy and Capacity Mechanisms
Part IV: Case Studies
12: Thomas Starlinger and Harald Kröpfl: Austria
13: Wim Vandenberghe and René Gonne: Belgium
14: Daniel Crevel-Sander and Charlotte Beaugonin: France
15: Kai Uwe Pritzsche and Katharina Reinhardt: Germany
16: Antonis Metaxas: Greece
17: Francesco Maria Salerno: Italy
18: Marinus Winters: Netherlands
19: Jens Naas-Bibow and Catherine Ramstad Wenger: Norway
20: Malgorzata Sadowska: Poland
21: Iñigo del Guayo: Spain
22: Peter Willis: United Kingdom
Leigh Hancher is Professor of European Law at Tilburg University, and part-time Professor at the Florence School of Regulation. She is also Of Counsel at the Amsterdam office of Allen & Overy LLP. She is a well-known EU law expert and has counselled firms in a broad range of procedures. She is the author of numerous titles, including EU State Aids (4th ed, Sweet & Maxwell 2012) and EU Competition and Internal Market Law in the Healthcare Sector(with Wolf Sauter, OUP 2012).

Dr Adrien de Hauteclocque is a Law Clerk (Référendaire) at the Court of Justice of the European Union and an Adviser of the Florence School of Regulation (European University Institute). He is also a visiting lecturer at École Nationale dAdministration (France). His research interests include EU antitrust and state aid law, competition policy in network industries and the law & economics of energy regulation. He is a regular speaker in international conferences and has published numerous academic articles and book chapters. He authored recently Market Building Through Antitrust: Long-term Contract Regulation in EU Electricity Markets (Edward Elgar 2014).

Dr Malgorzata Sadowska is Research Fellow at the European University Institute, and Coordinator of the Energy Law & Policy Area at the Florence School of Regulation, Robert Schuman Centre for Advanced Studies. She is the author of Committed to reform? Pragmatic antitrust enforcement in electricity markets (Intersentia 2014) and has published a number of papers on energy regulation and competition policy in top European law and economics journals.

Contributors:
Carlos Batlle, MIT
Charlotte Beaugonin, EDF
Daniel Crevel-Sander, EDF Luminus
Dominique Finon, Centre National de la Recherche Scientifique and the international Reserach Center on Environment and Development
Jean-Michel Glachant, Florence School of Regulation
Martin Godfried, Agency for the Cooperation of Energy Regulators (ACER)
René Gonne, Dechert LLP
Francisco Enrique González-Díaz, Cleary Gottlieb Steen & Hamilton LLP
Iñigo del Guayo, Universidad de Almería
Leigh Hancher, Allen & Overy LLP, Tilburg University,and the Florence School of Regulation
Adrien de Hauteclocque, Court of Justice of the European Union and the Florence School of Regulation
Arthur Henriot, RTE
Harald Kröpfl, Fiebinger Polak Leon Partners
Paolo Mastropietro, Comillas Pontifical University's Institute for Research in Technology (IIT)
Antonis Metaxas, Metaxas & Associates
Jens Naas-Bibow, Thommessen
Peter Oliver, Université Libre de Bruxelles and Monckton Chambers
José Ignacio Pérez-Arriaga, MIT
Jens Perner, Frontier Economics
Alberto Pototschnig, ACER
Kai Uwe Pritzsche, Linklaters LLP
Katharina Reinhardt, Linklaters LLP
Christoph Riechmann, Frontier Economics
Pablo Rodilla, Comillas Pontifical University's Institute for Research in Technology (IIT)
Fabien Roques, Université Paris Dauphine and Compass Lexecon
Malgorzata Sadowska, Florence School of Regulation
Francesco Maria Salerno, Cleary Gottlieb Steen & Hamilton LLP
Thomas Starlinger, Fiebinger Polak Leon Partners
Wim Vandenberghe, Dechert LLP
Charles Verhaeghe, Compass Lexecon
Catherine Ramstad Wenger, Thommessen
Bert Willems, Tilburg University
Peter Willis, Bird & Bird LLP
Marinus Winters, Allen & Overy LLP