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Energy - The Challenges and Opportunities Before the Developing Countries

Prem Shenkar Jha

Year: 1989
Volume: Volume 10
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol10-No1-4
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Abstract:
We are meeting here at a time when oil prices have not only become soft, but unstable. OPEC's control over the market has been decisively broken by a combination of rising non-OPEC supply and flat demand, which is itself a fruit of the bursts of technological innovation that followed the first and second oil shocks. Many people throughout the world who should know better are quietly rejoicing at the change. They opposed OPEC in principle because cartelization and price fixing are gross interventions in the operation of the free market. I can understand this view and sympathize with it. But I fear that, today, the countervailing power that was used to break OPEC may be exercised so crudely that prices will be driven down with a blind disregard for the future--specifically for the fact that oil is a part of nature's capital stock, and not its annual output.



The Rise of Third Parties and the Fall of Incumbents Driven by Large-Scale Integration of Renewable Energies: The Case of Germany

Gert Brunekreeft, Marius Buchmann, and Roland Meyer

Year: 2016
Volume: Volume 37
Number: Bollino-Madlener Special Issue
DOI: 10.5547/01956574.37.SI2.gbru
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Abstract:
The energy transition is dramatically changing the electricity supply industry in Germany implying two big trends. First, significant market entry by third parties (i.e., non-incumbents). Based on empirical evidence, we argue that the emergence of third parties is the immediate result of the large-scale integration of renewable energy sources. The electricity supply industry is changing quickly from a top-down, single-firm game to a decentralized multiple-player system, with far-reaching consequences for the governance and regulatory structure. Second, the incumbent players are facing disruptive challenges: under pressure of the energy transition, conventional centralized generation is losing profit margins very quickly. We analyze the disruptive challenges and sketch how the incumbents respond by splitting their activities into an old business, which is likely to be phased-out, and a new, future-oriented business: renewable energies, the distribution business, and customer-oriented solutions.





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