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Risk and Cost of Failure in the French Electricity System

Lucien Gouni and Phillippe Torrion

Year: 1988
Volume: Volume 9
Number: Special Issue 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-NoSI2-3
No Abstract



Price Elasticities of Natural Gas Demand in France and West Germany

Javier Estrada and Ole Fugleberg

Year: 1989
Volume: Volume 10
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol10-No3-5
View Abstract

Abstract:
This article analyzes the own-price elasticities of natural gas and cross-price elasticities between gas and other fuels in France and West Germany. A model with constant substitution elasticities would not give enough information to study interfuel competition. Therefore we adopted a model based on translog functions, which has few restrictions on measuring elasticities of energy demand.



Input-Output Analysis and Pollutant Emissions in France

Jean-Martial Breuil

Year: 1992
Volume: Volume 13
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol13-No3-9
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Abstract:
This paper deals with the principle of pollutant emissions defined by Leontief in 1971, based on a fixed coefficient model. I have tested the plausibility of this model by attempting to replicate data on French emissions of SO2 and NOx by combustion and processes.



Le Tarif Vert Retrouve: The Marginal Cost Concept and the Pricing of Electricity in Britain and France, 1945-1970

Martin Chick

Year: 2002
Volume: Volume23
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol23-No1-5
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Abstract:
This article compares the development of marginal cost pricing in the French and UK nationalised electricity industries between 1945 and 1970. Asking why French 'marginaliste' economists like Allais and Boiteux enjoyed more influence than their UK counterparts like Meade, political decisions concerning the organisation of the electricity industries, the differing influence of industrial and consumer interests, and the early postwar choices of hydro and thermal investment in France, are advanced as explanations. In the UK, the Treasury pushed nationalised industries towards marginal cost pricing, requiring them to earn rates of return on existing investment and to subject the proposed investment to test discount rates during the 1960s. The paper closes by arguing that these different routes to marginal cost pricing in the French and UK nationalised electricity industries had significant effects on later government and public attitudes towards the privatisation and liberalisation of the national electricity industry and market.



A Competitive Fringe in the Shadow of a State Owned Incumbent: The Case of France

Jean-Michel Glachant and Dominique Finon

Year: 2005
Volume: Volume 26
Number: Special Issue
DOI: 10.5547/ISSN0195-6574-EJ-Vol26-NoSI-8
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Abstract:
We examine what kind of competitive fringe has been built in France around the State owned incumbent without destroying it or significantly weakening its dominant position; what impacts has this particular reform process on the market in which the incumbent monopolist is still overly dominant; and what more can be done to strengthen the opening of the market while staying in this typical French policy framework (no industrial restructuring and no forced divestiture by the monopolist). We wonder if a larger window of opportunity will open up at some later date for contesting the position of the monopolist, especially when investment in generation resumes.



The More Cooperation, The More Competition? A Cournot Analysis of the Benefits of Electric Market Coupling

Benjamin F. Hobbs, Fieke A.M. Rijkers, Maroeska G. Boots

Year: 2005
Volume: Volume 26
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol26-No4-5
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Abstract:
If barriers between two power markets are eliminated, what might happen to competition and prices? And who benefits? In the case of the Belgian and Dutch markets, market coupling would permit more efficient use of transmission by improving access to the Belgian market, by counting only net flows against interface limits, and by eliminating mismatches in timing of interface auctions and energy spot markets. We estimate the benefits associated with the first two of these impacts using a transmission-constrained Cournot model. Social surplus improvements on the order of 108 �/year are projected, unless market coupling encourages the largest producer in the region to switch from price-taking in Belgium to a Cournot strategy due to a perceived diminished threat of regulatory intervention. Whether Dutch consumers would benefit also depends on that company�s behavior. The results illustrate how large-scale oligopoly models can be used to assess changes in market designs.



Price Signals in "Energy-only" Wholesale Electricity Markets: An Empirical Analysis of the Price Signal in France

Philippe Vassilopoulos

Year: 2010
Volume: Volume 31
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol31-No3-5
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Abstract:
This paper analyzes the price signals of the French wholesale electricity market. We build a model of electricity prices that takes into account several key features of the French electricity market in order to assess the capacity of the price signal to guide investments. Wholesale prices should reflect the imbalances in the generation mix but the signal can be distorted if monopoly rents and/or �missing money� are present. We simulate over the 2003-2005 period theoretical perfectly competitive prices with the installed capacity and with the optimal mix to estimate the capacity imbalances and scarcity rents. We then compare the investment signal sent by observed electricity prices and the theoretical prices with the installed capacity. Although there are signs of market contestability for the mid-merit load, through market integration with the other continental markets, observed prices are too high for the baseload and too low for the peakload, as a result distorting the signal.



The Impacts of Variable Renewable Production and Market Coupling on the Convergence of French and German Electricity Prices

Jan Horst Keppler, Sebastien Phan, and Yannick Le Pen

Year: 2016
Volume: Volume 37
Number: Number 3
DOI: 10.5547/01956574.37.3.jkep
View Abstract

Abstract:
This paper estimates the impact of two separate factors on the spread between French and German electricity prices, the amount of production by variable renewables and "market coupling". As renewable electricity production is concentrated during a limited number of hours with favourable meteorological conditions and interconnection capacity between France and Germany is limited, increases in production of wind and solar PV in Germany lead to increasing price spreads between the two countries. Our estimates based on a sample of 24 hourly French and German day-ahead prices from November 2009 to June 2013 confirm that renewable electricity production in Germany has a strongly positive impact on price divergence. On the other hand, market coupling, the establishment of a combined order book on the basis of information of both markets, which was introduced in November 2010, can be shown to have mitigated the observed price divergence. Both results have policy relevant implications for welfare and the optimal provision of interconnection capacity.



Cross-subsidies Tied to the Introduction of Intermittent Renewable Electricity. An Analysis Based on a Model of the French Day-Ahead Market

Jacques Percebois and Stanislas Pommeret

Year: 2018
Volume: Volume 39
Number: Number 3
DOI: 10.5547/01956574.39.3.jper
View Abstract

Abstract:
The introduction of renewable energy paid off-market disrupts the demand-price relationship in wholesale electricity markets. Drawing on 2015 hourly data from France's electricity transmission network operator (RTE) and the French day-ahead spot market, this paper attempts to quantify the disturbance observed and the transfers of revenues among consumers, producers and providers. This study calculates, through a modeling of the day-ahead market, the impact on conventional electricity producers in France in terms of the loss of economic value owing to the introduction of renewable energies. In the same time consumers benefit from lower electricity prices but have to pay for feed-in tariffs. Renewable electricity producers and electricity providers are also the winners. An estimation of the cross-subsidies induced by the injection of renewable electricity is given.



From Residential Energy Demand to Fuel Poverty: Income-induced Non-linearities in the Reactions of Households to Energy Price Fluctuations

Dorothee Charlier and Sondes Kahouli

Year: 2019
Volume: Volume 40
Number: Number 2
DOI: 10.5547/01956574.40.2.dcha
View Abstract

Abstract:
The residential energy demand is growing steadily and the trend is expected to continue in the near future. At the same time, under the impulse of economic crises and environmental and energy policies, many households have experienced reductions in real income and higher energy prices. In the residential sector, the number of fuel-poor households is thus expected to rise. A better understanding of the determinants of residential energy demand, in particular of the role of income and the sensitivity of households to changes in energy prices, is crucial in the context of recurrent debates on energy efficiency and fuel poverty. We propose a panel threshold regression (PTR) model to empirically test the sensitivity of French households to energy price fluctuations - as measured by the elasticity of residential heating energy prices - and to analyze the overlap between their income and fuel poverty profiles. The PTR model allows to test for the non-linear effect of income on the reactions of households to fluctuations in energy prices. Thus, it can identify specific regimes differing by their level of estimated price elasticities. Each regime represents an elasticity-homogeneous group of households. The number of these regimes is determined based on an endogenously PTR-fixed income threshold. Thereafter, we analyze the composition of the regimes (i.e. groups) to locate the dominant proportion of fuel-poor households and analyse their monetary poverty characteristics. Results show that, depending on the income level, we can identify two groups of households that react differently to residential energy price fluctuations and that fuel-poor households belong mostly to the group of households with the highest elasticity. By extension, results also show that income poverty does not necessarily mean fuel poverty. In terms of public policy, we suggest focusing on income heterogeneity by considering different groups of households separately when defining energy efficiency measures. We also suggest paying particular attention to targeting fuel-poor households by examining the overlap between fuel and income poverty.




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