Towards a green energy economy? The EU Energy Union's transition to a low-carbon zero subsidy electricity system – Lessons from the UK's Electricity Market Reform

By David Newbery. 2016

144 citations recorded by the source corpus.

The 2015 EU Energy Union Package proposes integrating renewables into the market, just as the UK has moved away from Premium Feed-in Tariffs (FiTs) for renewable electricity supply (RES-E) to something closer to the standard FiT, which, when auctioned, demonstrated a 3% real fall in the weighted average cost of capital (WACC). The UK, which has experimented with nearly all forms of RES-E support, offers the evidence base for designing the Energy Union’s RES-E support. Innovation needs a further redesign to deliver adequate funding, best done through country contributions to an EU-wide innovation competition.

Subfields: Economics and Econometrics, Political Science and International Relations, Renewable Energy, Sustainability and the Environment

View Paper: https://www.semanticscholar.org/paper/5eae95c891e546295b5ef40e73a98f079a960cdf

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

1. David Newbery
2. Michael Grubb
3. W. Fichtner
4. Florian Zimmermann
5. C. Spash

In Political Science and International Relations

1. Michael Grubb
2. Florian Zimmermann
3. David Newbery

In Renewable Energy, Sustainability and the Environment

1. David Newbery
2. Michael Grubb
3. Goran Strbac
4. W. Fichtner
5. C. Spash

Citations in the corpus

• A survey on electricity market design: Insights from theory and real-world implementations of capacity remuneration mechanisms (2019, background): “Furthermore, Newbery (2016a) argues that even if earnings from price spikes are sufficient to cover fixed and capital costs, investors might not be willing to bear the associated risks and are unable to lay them off through futures and contract markets.”
• The benefits of integrating European electricity markets (2016, background): “This is particularly the case with efficiently locating renewables where the resource (sun or wind) is best suited, and that will require more efficient forms of EU-wide support finance and burden sharing (Newbery, 2016).”
• UK Electricity Market Reform and the Energy Transition:Emerging Lessons (2018, background): “Newbery (2016a) argues that the close juxtaposition of these contracts provides an ideal natural experiment.”