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AbstractRecently, the EU launched a number of initiatives to prevent the weaponising of supply chains and build resilience against interruptions. This article explores attempts to ensure security of supply in three sectors: semiconductors, pharmaceuticals and critical raw materials. The analysis contrasts the measures taken in each sector in order to highlight commonalities and explain differences in approach and impact. This comparison of the EU's three principal policies for mitigating supply chain disruption shows the EU has equipped itself with more policy tools in the area of critical raw materials. The argument put forward to explain this prioritisation is that the weaponisation of critical raw materials has already taken place and risks stoking a political backlash against the EU green deal. Consequently, the evidence shows how the EU's geoeconomic hedging marks a move away from an overriding commitment to free markets as part of the postwar liberal international order. Rather, the EU is experimenting with market‐directing mechanisms involving state aid, stockpiling and regulatory interventions in the name of security of supply. This change illustrates not just the fraying of the liberal international trade order but also the part that the EU is playing in this transformation.

The push for clean energy has caused a rapid growth of renewables in the electricity supply mix of the EU. Although one would assume that the impact of these technologies is entirely positive, recent research and experience indicate that there is reason for concern namely regarding the security of supply. In this context, the concern is how renewable energy sources (RES) affect the business case of conventional power generation. In response to this concern, capacity mechanisms are being considered or have already been implemented by various member states of the EU. However, in a highly interconnected electricity system, such as the one in Europe, there appears to be a risk that the uncoordinated implementation of capacity mechanisms may cause unintended cross-border effects. This research explored the performance of various capacity mechanisms in an electricity system with a strong growth in the portfolio share of variable renewable energy sources (RES). The cross-border effects of implementing various capacity mechanisms in an interconnected power system were also analyzed. In this research, two capacity mechanisms, namely a strategic reserve and a capacity market, were modeled as extensions to the EMLab-Generation agent-based model. Furthermore, two variations of a capacity market were analyzed. The first was a yearly capacity market design and the second was a forward capacity market with long term contracts. A survey of experts on the US capacity markets supplemented the modeling work with practical insights. ; QC 20161006 The Doctoral Degrees issued upon completion of the programme are issued by Comillas Pontifical University, Delft University of Technology and KTH Royal Institute of Technology. The invested degrees are official in Spain, the Netherlands and Sweden, respectively. copyright (c) 2016 P. C. Bhagwat

UID/CPO/04627/2013, PTDC/IVC-CPO/1295/2014. ; The European Union (EU) is one of the biggest energy consumers in the world and imports more than half of all the energy it consumes. The EU is heavily reliant on a reduced number of energy suppliers, particularly oil and natural gas, and some countries rely entirely on the Russia Federation for their natural gas. The EU needs to continue developing short-term and long-term strategies to improve European energy security and to deal with the main challenges to security of supply. ; publishersversion ; published

"Die weltweite Rohstoffsituation ist kritisch, stabile politische Rahmenbedingungen in Russland und im Nahen Osten unbedingt von Nöten. Nachhaltigkeit erschöpft sich nicht nur in seiner ökologischen Dimension, sondern muss auch die Versorgungssicherheit miteinbeziehen." (Autorenreferat)

"Natural gas, a vital primary source of energy for the twenty-first century economy, is poised to play a major role in the medium- to long term outlook of energy systems worldwide. Its supply to power markets for electricity generation and other energy purposes through the stages of exploration, production, gathering, processing, transmission, and distribution have been a key driver in gas commercialisation over the past two to three decades. This book discusses insights from law and economics pertaining to gas and energy supply contracts, regulation, and institutions. It provides an in-depth 'law-in-context' analysis of the approaches to developing competitive and secure gas to power markets in an increasingly international, interrelated, and interconnected value chain. Recognising a general move towards structural reforms and economic regulation of gas and energy markets globally, the author incisively addresses the following questions: Is there a single 'ideal' model or approach for ensuring effectiveness in the restructuring and regulation of gas supply to power markets? If not, then what constitutes the matrix of models and approaches? What are the underlying principles, assumptions, and institutional structures that will enhance the modern approaches to developing competitive, secure, and sustainable gas supply to power markets? What are the factors that determine or affect the effectiveness and efficiency of such approaches and regulatory frameworks? The book critically explores the instrumental role of regulation and organisational institutions in the restructuring and development of gas supply markets. It examines the evolution of economic approaches to regulation, competitiveness, and security of gas supply in the US and the UK. In addition, this book considers the EU as a supranational union of developed economies and Nigeria as a developing economy, in the process of applying these paradigms of economic regulation and restructuring of gas to power markets"--Publisher's website

The paper critiques current European energy policy. The key market failures are identified and the reasons for intervention set out. In addition to the traditional concerns with monopoly and market failures, the public goods aspects of diversity and security of supply, together with environmental failures are highlighted. Whilst in the 1980s and 1990s, market power dominated in the context of excess supply, the new priorities of security of supply and climate change require new policy instruments - notably network interconnection, capacity markets, strategic storage, and enhancements to the EU Emissions Trading Scheme. The paper sets out the necessary reforms, together with the institutional structures at the EU level which would provide credibility.

Abstract
Renewable energy sources are crucial for tackling the challenges of energy security and climate change. The mounting concerns about climate change, fossil fuel depletion, and energy security have heightened the focus on renewable energy. The shift to a global energy system that heavily relies on renewable sources, while promising, faces significant barriers that call for coordinated global efforts and innovative solutions. This article examines the technological advancements in renewable energy, evaluates their economic implications, and explores future trends and policy impacts. The core argument of this work is that, despite notable technological advancements, a significant breakthrough and a conducive investment environment are yet to be realised to enable the complete substitution of fossil fuels with renewable energy. It analyses current capacities, technological challenges, economic considerations, and various policies influencing the implementation of renewable energy projects. By conducting a comprehensive examination of the intermittency of energy production, limitations of energy storage, and the need for infrastructure modernisation, the economic implications of investing in renewable energy are assessed, alongside the potential of existing technologies to provide a sustainable alternative to fossil fuels. The article underscores the crucial role of increased investment, ongoing innovation, and global collaboration in overcoming existing challenges and ensuring a sustainable transition to renewable energy sources.

We propose a model of the European gas market where the risk that Russian deliveries are interrupted is endogenized. While Russia's attempts to buy considerable parts of the European downstream industry have faced strong political opposition, we argue that Russian participation in the downstream market would decrease consumer prices and increase the security of supply.