Universität zu Köln

Weiser, Florian (2018). Four Essays on Imperfections in Energy Markets. PhD thesis, Universität zu Köln.

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Abstract

The thesis at hand comprises four research papers analyzing market imperfections in European energy markets, in particular natural gas and balancing power markets. Chapter 2 finds that there was an economic rationale to construct an import terminal for liquefied natural gas (LNG) in Lithuania and to secure a long term contract for LNG. Those measures taken in 2014 broke the gas monopoly of Russia’s Gazprom. Chapter 3 investigates potential reasons underlying price premiums of the Italian wholesale gas market to the German wholesale gas market. It is found that market power in the Italian gas market can rationalize historical gas prices in Italy as well as gas flows between Germany and Italy. Chapter 4 focuses on the role of Turkey in the Southern Gas Corridor in 2030. If the European gas markets in 2030 are characterized by an oligopolistic supply structure, Turkey is able to exert market power with gas transits resulting in higher gas prices compared to competitive transits, in particular in South Eastern Europe. Chapter 5 focuses on the missing market for hourly balancing power products in the German balancing power market design in 2014 that required a weekly balancing power provision. It is found that shorter time spans of procurement lower the costs of balancing power provision by up to 15%. Additionally, cases can be identified in which shorter time spans lead to higher market concentration compared to a weekly market design.

Item Type:	Thesis (PhD thesis)
Creators:	Creators Email ORCID ORCID Put Code Weiser, Florian florian.weiser88@gmail.com UNSPECIFIED UNSPECIFIED
URN:	urn:nbn:de:hbz:38-84474
Date:	19 July 2018
Language:	English
Faculty:	Faculty of Management, Economy and Social Sciences
Divisions:	Externe Einrichtungen > An-Institute > Associated Institutes of the Faculty of Management, Economics and Social Sciences > Institute for Energy Economics
Subjects:	Economics
Uncontrolled Keywords:	Keywords Language Energy Economics English Energy Market Modeling English Natural Gas English Balancing Power English Market Power English
Date of oral exam:	12 July 2018
Referee:	Name Academic Title Bettzüge, Marc Oliver Prof. Dr. Höffler, Felix Prof. Dr.
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/8447