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Market-based Options for Security of Energy Supply. Summary and Conclusions. INDES Working Paper #1, 1 March 2004

Egenhofer, Christian and Gialoglou, Kyriakos and Luciani, Giacomo and Boots, Maroeska and Scheepers, Martin and Costantini, Valeria and Gracceva, Francesco and Markandya, Anil and Vicini, Giorgio. (2004) Market-based Options for Security of Energy Supply. Summary and Conclusions. INDES Working Paper #1, 1 March 2004. [Working Paper]

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    Abstract

    The INDES project and related working papers focus on market-compatible, cost-effective security of supply responses by the EU. Security of supply is understood as insurance against risks, in which responsibility is shared between the EU, member states, energy companies and customers. Thus security of supply is seen as an economic risk-management strategy. Critical to such an approach is first the minimisation of the insurance ‘premium’ to achieve the degree of security that is politically called for. Second, there is a need to identify the best systemic actor able to ‘hedge’ the risk. This can be governments, companies, consumers or in some cases, the market itself subsequent to careful design. Based on these premises, INDES research has emphasised two areas: i) costs of energy supply disruptions and ii) costs of potential policy responses. Towards this end, robust methodologies to assess costs and a sound empirical basis for cost data have been used in the working paper series as the precondition for informed policy choices reflecting both effectiveness and cost-efficiency.

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    Item Type: Working Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > energy policy
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > INDES Working Papers
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 28 Jul 2010
    Number of Pages: 32
    Last Modified: 06 Aug 2014 21:08
    URI: http://aei.pitt.edu/id/eprint/14433

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