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IEA Publications on 'Energy Market Reform'
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Energy Policies of IEA Countries - Portugal -- 2009 Review, 160 pages, ISBN 978-92-64-06037-1, paper €75, PDF €60 (2009) Portugal has made considerable efforts to strengthen its energy policy since the last IEA in-depth review in 2004. A large number of IEA recommendations have been successfully implemented, including greater diversification of the energy mix and increased energy policy co-ordination. A new National Energy Strategy, published in October 2005, identified three principal means for meeting Portugal’s policy goals: the promotion of renewable energy, increased energy efficiency and competition in energy markets.
Over a short period of time, Portugal has become a leader in terms of renewable energy development. Well-designed incentive mechanisms and the adoption of ambitious targets ensure hydro, wind and other technologies will continue to grow. The National Action Plan for Energy Efficiency was enacted in 2008, and Portugal aims to implement energy efficiency measures equivalent to 9.8% of total final energy consumption by 2015. This plan complements a well-developed and co-ordinated climate change policy. Further steps have been taken towards the liberalisation of energy markets, including the innovative creation of a single operator for the transport of natural gas and electricity, natural gas storage and operation of the Sines LNG terminal.
Still, a number of challenges remain. Energy markets are not as competitive as policy makers may have wished, and energy research and development policy co-ordination needs to be strengthened.
This review provides sectoral critiques of existing policy and recommendations for further improvements. It is intended to serve as an indispensable guide for Portuguese policy makers as they travel along the path to a more sustainable energy future.
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Energy Policies of IEA Countries – The Netherlands -- 2008 Review, 152 pages, ISBN 978-92-64-04339-8, paper €75, PDF €60 (2009) The energy policies of the Netherlands play an important role in ensuring energy security not only on a national level but in all of north-west Europe. The country’s strategic location makes it an important transit and trade hub for natural gas, oil and electricity. Furthermore, it has important natural gas production and a large oil refining industry. To enhance continental energy security, the government takes a leadership role in natural gas and electricity market development, pushing forward important policies to better integrate and harmonise the existing national and regional markets. One of the world’s leaders in energy research and development (R&D) management, the Netherlands is further increasing its R&D on energy technologies.
With sound policies already in place, the Netherlands has recently announced its intention to create an even more sustainable energy future. As part of this pledge, the government has set ambitious targets: to increase the share of renewables in the energy mix to 20% by 2020; to make a 2% annual efficiency improvement; and to lower greenhouse gas emissions by 30% by 2020 from the 1990 level. These objectives will not be easy to achieve. To ensure their attainment, the Netherlands will need not only well-designed policies but also their timely and effective implementation.
This review analyses the energy challenges facing the Netherlands and provides critiques and recommendations for further policy improvements. For example, it urges the government to provide policy continuity – such as in promotion regimes for renewable energy – to underpin a sustainable investment climate. It also highlights the need for closer co-ordination among national, regional and local authorities.
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Natural Gas Market Review 2008 -- Optimising investments and ensuring security in a high-priced environment, 288 pages, ISBN 978-92-64-04908-6, paper €80, PDF €64 (2008)FREE DOWNLOAD: Natural Gas Market Review 2008
Over the last 18 months, natural gas prices have continued to rise steadily in all IEA markets. What are the causes of this steady upward trend?
Unprecedented oil and coal prices which have encouraged power generators to switch to gas, together with tight supplies, demand for gas in new markets and delayed investments all played a role. Investment uncertainties, cost increases and delays remain major concerns in most gas markets and are continuing to constitute a threat to long-term security of supply.
A massive expansion in LNG production is expected in the short term to 2012, but the lag in LNG investment beyond 2012 is a concern for all gas users in both IEA and non-IEA markets. Despite this tight market context, regional markets continue on their way to globalisation. This tendency seems irreversible, and it impacts even the most independent markets. Price linkages and other interactions between markets are becoming more pronounced.
The Natural Gas Market Review 2008 addresses these major developments, assessing investment in natural gas projects (LNG, pipelines, upstream), escalating costs, the activities of international oil and gas companies, and gas demand in the power sector. In addition, the publication includes data and forecasts on OECD and non-OECD regions to 2015 and in-depth reviews of five OECD countries and regions including the European Union.
It also provides analysis of 34 non-OECD countries in South America, the Middle East, Africa, and Asia, including a detailed assessment of the outlook for gas in Russia, as well as insights on new technologies to deliver gas to markets.
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Energy in the Western Balkans -- The Path to Reform and Reconstruction, 416 pages, ISBN 978-92-64-04218-6, paper €100, PDF €80 (2008) We offer a 50% discount for countries from the Western Balkans:
Albania, Bosnia and Herzegovina, Croatia, Macedonia, Montenegro, Serbia and Kosovo.
Please send an email to books@iea.org for your discount to be set up. Please do not place your order before receiving your confirmation e-mail.
The Western Balkans – composed of Albania, Bosnia and Herzegovina, Croatia, the Former Yugoslav Republic of Macedonia, Montenegro, Serbia and Kosovo – is a complex region facing significant energy challenges. The conflicts over the break-up of the former Yugoslavia damaged much of the energy infrastructure and compounded the challenge of providing reliable energy supply. Electricity systems in many parts of the region remain fragile and in need of investment.
A priority across the region is to put into place the institutions, infrastructure and policies that can support the provision of reliable, affordable and sustainable energy. For the Western Balkans as a whole, a key element of the reform effort is the Energy Community Treaty – a regulatory and market framework to which the entire region has now subscribed. This Treaty aims to create an integrated regional market for electricity and gas compatible with the European Union’s internal energy market.
This Energy Policy Survey is the first comprehensive review of energy policies and strategies in the Western Balkan region, and also covers important cross-cutting topics such as co-operation and energy trade, oil and gas transportation, and the links between energy and poverty. It identifies and assesses the reforms that are still needed to deliver efficient, modernised energy systems that can assist economic development, address energy poverty and reduce the environmental impacts of energy use.
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Energy Policies of IEA Countries – Finland -- 2007 Review, ISBN 978-92-64-03071-8, PDF €0 (2008)FREE DOWNLOAD: Finland
Faced with considerable challenges related to its geography and size, Finland’s sound energy policies do much to overcome its situation. The country leverages its small market where it can – such as by adopting or harmonising with EU directives and policies. To counter its relative isolation, Finland strengthened its position by becoming part of the larger Nordic electricity market and enhancing energy linkages. At the core, however, the country ensures energy security by relying on transparency and sound market signals to investors and customers, as well as by making good use of domestic sources of biomass and nuclear.
As Finland continues to refine and enhance its energy policy, there are some areas that warrant special attention. As nearly all fossil fuels are imported and all natural gas comes through a single interconnection, the government should continue to explore ways to diversify import sources and routes. The new nuclear power plant currently being built – the first in a liberalised market – will help safeguard energy security, though the construction delays necessitate continued monitoring. Subsidies for peat, a fuel in abundance in Finland, should be reconsidered, as they do not enhance energy security. On the other hand, the government should continue to explore ways to expand new renewables, building on the current stock of biomass and hydro.
This book takes an in-depth look at Finland’s energy policy today and, through comparisons with good examples in other IEA countries, provides critiques and recommendations for improvements to guide the country towards a sustainable energy future. While the review provides comprehensive coverage of all topics, this thematic report highlights energy efficiency and energy R&D.
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Energy Policies of IEA Countries - Austria -- 2007 Review, ISBN 978-92-64-03075-6, PDF €0 (2008)FREE DOWNLOAD: Austria
Since the last review in 2002, Austrian energy policy has seen many positive developments. Today, Austria counts among the IEA member countries with the highest share of renewable energy supply, thus increasing energy security and reducing CO2 emissions. Great progress has also been made in the utilisation of biomass for heat and electricity production. Nevertheless, many challenges remain.
The climate strategy revision in 2007 is commendably realistic, but uncertainty remains whether it will be sufficient, and whether renewables and energy efficiency are well-balanced within it. While Austria is strongly promoting an increase of renewables production by adopting challenging targets, it is less ambitious in the area of energy efficiency. To achieve the renewables target, their supply will have to double, leading to significant increases in costs. In energy efficiency, while Austria is leading in developing efficient building solutions, there are concerns about implementation, especially about the lack of ambition and divergence in building codes. Overall, energy intensity has increased in recent years, and the government will have to put a strong focus on reversing this development.
Despite the early opening of the energy markets, effective competition has failed to emerge. This is partially due to systemic weaknesses such as dominant incumbents, lack of transparency in price formulation and a weak regulatory system with the potential for conflicts of interest.
This review thoroughly analyses Austrian energy policy and identifies the key challenges that need to be addressed. With recommendations for improvements, it is an important guide for Austrian policy makers toward a safer and cleaner energy future.
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Energy Policies of IEA Countries - Switzerland -- 2007 Review, 128 pages, ISBN 978-92-64-03069-5, PDF €0 (2007)FREE DOWNLOAD: Switzerland
Switzerland is entering decisive times in its energy policy. In 2008, the country should see remarkable advance in electricity market reform. Support for renewable electricity is set to increase massively. Decisions on post-Kyoto targets are getting closer, and a CO2 tax will be introduced for heating and process fuels. Plus, new measures to increase energy efficiency and the broader use of renewable energy are high on the political agenda.
Since the last in-depth review in 2003, Switzerland has made progress in most areas of energy policy. Still, more work remains to be done. Maintaining sufficient electricity capacity implies even stronger policies to promote energy efficiency and renewable energy sources. At the same time, the country will also need to decide which sources to use for large-scale power supply.
High dependency on oil can become a burden in a post-Kyoto world. In particular, Switzerland’s climate policy should focus more on reducing emissions from private car use, the largest and fastest-growing emitter. Current measures have not proven effective, and the costs of reducing CO2 emissions are being distorted across sectors.
Switzerland’s world-class energy R&D is expected to more than halve energy needs per capita by the second half of this century. This ambitious goal needs to be supported by consistent policies on energy efficiency and climate change.
This book takes an in-depth look at the energy challenges facing Switzerland and provides critiques and recommendations for policy improvements. The review guides the country towards a sustainable energy future.
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Energy Policies of IEA Countries - Ireland -- 2007 Review, 154 pages, ISBN 978-92-64-02562-2, PDF €0 (2007)FREE DOWNLOAD: Ireland
Ireland’s remarkable economic growth over the last 15 years had strong effects on the energy sector. Due to rapidly increasing demand, Ireland has become much more dependent on international energy markets than it was in the past. For Irish energy policy, 2007 is a watershed year. It marks the end of the transition in market liberalisation with the introduction of a unified national electricity market. In addition, the publication of a new energy policy should help to ensure future security of supply and bring environmental improvements of energy use.
Ireland is highly dependent on oil and increasingly dependent on natural gas. The price of these two commodities has strongly increased recently, which results in a heavy burden for the Irish economy and a risk for energy security. The main alternative in the supply side is coal and peat, which causes greenhouse gas emissions to rise much faster than expected.
This review analyses the energy challenges facing Ireland and suggests solutions, focussing on moving ahead with market reform and increasing the energy efficiency of the Irish economy. Establishing the “All-Island” electricity market will be of critical importance. Sharper focus on energy efficiency in all sectors of the economy, but in particular in transport and buildings, must be a priority. Finally, to achieve its ambitious goals for renewables in energy supply, Ireland will have to provide ample resources for research and development, to allow technologies such as ocean power to move from the laboratory to the market.
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Energy Policies of IEA Countries - Germany -- 2007 Review, 184 pages, ISBN 978-92-64-02223-2, PDF €0 (2007)FREE DOWNLOAD: Germany
Few countries can have as great an impact on energy policy in Europe as Germany. Its large size and strategic location make it a critical component of the region’s energy markets – as a result, sound energy policies and strong energy market design are a necessity. In these respects, Germany continues to make notable progress. The country has continued to reform its electricity and natural gas markets, set a timetable to phase out coal subsidies, is meeting key climate and environmental targets and is bringing energy, efficiency and environment to the top of the world agenda with its presidencies of both the G8 and European Union. The International Energy Agency (IEA) praises these efforts.
Nevertheless, work remains to be done to further improve German energy policies and markets. The planned phase-out of nuclear power over the coming years would have major impacts on the country’s energy mix, raising concerns about energy security, economic efficiency and environmental sustainability for the country and for Europe as a whole. Furthermore, though progress has been made, more needs to be done to set a truly level playing field for competition to develop in gas and electricity markets, which means effective unbundling of transport activities and a strongly empowered regulatory authority. Finally, the country’s environmental policies, though helping meet ambitious goals, are expensive – and sometimes various policies work at cross-purposes.
This book takes an in-depth look at the energy challenges facing Germany, and through comparisons with good examples in other IEA countries, provides critiques and recommendations for policy improvements. The review guides the country towards a sustainable energy future.
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Tackling Investment Challenges in Power Generation -- In IEA Countries, 208 pages, ISBN 978-92-64-03007-7, PDF €0 (2007)FREE DOWNLOAD: Tackling Investment Challenges in Power Generation
To meet increasing demand and replace ageing power units, considerable investment in new power generation will be required over the next decade. In most IEA countries a new investment cycle in power generation is looming: Many uncertainties create risks that may lead to inappropriate investment – too little, too late, in the wrong location and with the wrong technology. A window of opportunity now exists to push for a cleaner and more efficient generation portfolio that could transform the power sector and help to build a more sustainable infrastructure lasting over the next 40-50 years.
What are the recent trends and prospects for investment in power generation? What are the main drivers and barriers? This book assesses these issues and gives special emphasis to the question of how uncertainties may affect investment decisions. Uncertainties on CO2 constraints, on power plant licensing, on acceptability of nuclear power, on local opposition to any new energy infrastructure, on government support for specific generation technologies and on government policies on energy efficiency are particularly disturbing. Market liberalisation can also be a key uncertainty, but this may be greatly reduced and deliver considerable benefits if liberalisation is implemented whole-heartedly and backed by on-going government commitment.
Government action is urgently needed: to reduce regulatory uncertainty for investors, to establish effective competitive markets and to give firm policy directions in those areas where markets fall short, such as in taking environmental costs and security of supply into account. Tackling Investment Challenges in Power Generation shows the way forward.
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Energy Prices and Taxes - ANNUAL SUBSCRIPTION -- Quarterly publication, 546 pages, ISBN 0256-2332 (paper)
1683-4321 (CD-ROM), paper €380, PDF €304, CD-ROM €900 (2009)Energy Prices & Taxes contains a major international compilation of energy prices at all market levels: import prices, industry prices and consumer prices. The statistics cover main petroleum products, gas, coal and electricity, giving for imported products an average price both for importing country and country of origin. Every issue includes full notes on sources and methods and a description of price mechanisms in each country. Time series availability varies with each data series. Single Edition €110, PDF € 88_________________________________________________ Longer series for the prices and taxes are available on the CD-ROM.
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Energy Prices and Taxes - SINGLE ISSUE -- Quarterly publication, 520 pages, ISBN 0256-2332, paper €120, PDF €96 (2009) Energy Prices & Taxes contains a major international compilation of energy prices at all market levels: import prices, industry prices and consumer prices. The statistics cover main petroleum products, gas, coal and electricity, giving for imported products an average price both for importing country and country of origin. Every issue includes full notes on sources and methods and a description of price mechanisms in each country. Time series availability varies with each data series.
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