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One of the tasks of a utility company is to manage the risks that arise from the gaps between the obligation to make future deliveries of energy and the company’s assets. The goal of this chapter is to provide insights into these gaps and to discuss some risk management concepts and instruments that can be used to actively manage these risks.
Previously disconnected regional natural gas markets are becoming increasingly integrated, largely due to liquefied natural gas (LNG) trade. Some factors are accelerating this trend, such as rapid demand growth, climate change policy, a desire to avoid transit country risks associated with pipelines, and seasonality in demand. However, other factors are acting to inhibit global market development,...
Within the integrated market of Norway, Sweden, Finland, and Denmark – the Nordic region – cross-border trading is handled implicitly in the day-ahead market clearing. The capacity on all connections between the four countries, and partly also the capacity on the connections between Denmark and Germany, is included in the Nordic price calculation. This chapter aims to describe how the exchange of...
In 2006, Europe imported 43.5% of its gas consumption. This share is expected to rise sharply, creating new challenges and raising serious political concerns about security of supply. The short to medium term is more likely to see a period of easy supply rather than shortage, but problems may appear post-2015/2020. The source of the next 50-100 bcm/year of supply is not obvious, because of geopolitical...
This chapter gives an overview of the fundamentals of gas storage and explains the importance of gas storage facilities for the European market. Taking into account the current gas market development, the strategic relevance of using storage becomes an increasingly significant issue for gas market players. Storage provides security of supply and flexibility. Both are essential to reliable and sustainable...
This chapter provides an overview of current business models of European power utilities, which are classified into six major groups. Indications of future developments are also given for these strategic groups. Based on a recent global study conducted by Roland Berger Strategy Consultants, six major critical factors of success of power utilities are described.
“Energy is the very fuel of society and societies without access to competitive energy suffer.“ – Lee Raymond (past Chairman, Exxon Mobil) The future major challenge to the European energy system is to ensure the security of supply of energy with a low environmental impact while maintaining a sustainable level of market competitiveness within the European economy. The role of the utility industry...
Liberalisation of the electricity sector in various countries and regions worldwide as a precondition for the introduction of competition has faced electricity generators and suppliers, grid operators, governments, regulatory authorities and, finally, also consumers with new challenges. This chapter summarises this development with a regional focus on the European Union.
This chapter sets out the structural changes in the energy markets as seen by the Federal Network Agency for Electricity, Gas, Telecommunications, Post and Railway [Bundesnetzagentur]. It describes not only the changes identified in the period from the late 1990s to the end of 2007, but also the emerging trends for the coming years. Both national and European developments are included. The structural...
The framework within which the utility industry acts has changed enormously in recent years. Politics and increasing competition, growing demands for climate protection, and global competition for scarce energy resources necessitate new structures and strategies. Early on, EWE took the necessary steps to establish its strong competitive position in the energy and in the information and communications...
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