- Veneto, Italy
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The present market structure of most of European countries offers several opportunities to market agents (producers, consumers, traders, etc.). In this paper the main European electricity markets are analyzed and compared from the point... more
The present market structure of most of European countries offers several opportunities to market agents (producers, consumers, traders, etc.). In this paper the main European electricity markets are analyzed and compared from the point of view of bidding mechanism, price formation and timing. The focus is on the Day Ahead Market (DAM), the IntraDay Market (IDM), the Balance Market (BM). A deep knowledge of the electricity markets rules may be fundamental to plan a profitable operation of a single plant or of a portfolio of plants. This paper analyzes the projects promoted by European Agencies, i.e. ACER and ENTSOE, aimed at increasing the level of harmonization in EU electricity markets. As a matter of fact different options chosen in different countries may complicate the international contracts. Instead, the standardization of contracts may help create a common EU market for electricity. The paper gives a cross-country view of electricity auctions rules in the EU and compare them to highlight the most attractive solutions for auctioning contracts.
Research Interests: Economics and Electricity
A comparison between wound rotor (WR) salient pole and superficial permanent magnet (SPM) synchronous generators for wind power industry applications is reported. A comprehensive analysis of all the design implications and manufacturing... more
A comparison between wound rotor (WR) salient pole and superficial permanent magnet (SPM) synchronous generators for wind power industry applications is reported. A comprehensive analysis of all the design implications and manufacturing and operating costs has been carried out for both WR and SPM technologies, demonstrating the convenience of the innovative SPM machine design.
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Research Interests: Political Science and AEI
Research Interests: Economics and Electricity
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Research Interests: Power to Gas and Stacking
Growing shares of non-programmable renewable energy sources do not only decarbonize the power system, but pose also significant challenges to it due to inherent volatility and the respective need for balancing services. The question... more
Growing shares of non-programmable renewable energy sources do not only decarbonize the power system, but pose also significant challenges to it due to inherent volatility and the respective need for balancing services. The question therefore arises to what extent they cannot contribute themselves to such services. This paper investigates the economic viability of balancing service provision from wind turbines, based on a case study with real generation and market data from Italy. Different pricing strategies with the impact of feed-in incentives are compared, as well as the performance in different geographical market zones. Findings reveal structural drawbacks of downward services in contrast to positive economic potential for upward services, strongly depending on the wind park’s location and pricing strategy.
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The search for sustainability is driving innovation in all production fields and the most dynamic economies are focusing their efforts to recover from the crisis of 2009 on green sectors. The energy sector is leading this change towards... more
The search for sustainability is driving innovation in all production fields and the most dynamic economies are focusing their efforts to recover from the crisis of 2009 on green sectors. The energy sector is leading this change towards sustainability with the substitution of fossil fuels with renewable energy sources and with a permanent change in the investment pattern. The request for sustainability in the energy sector is strictly related to the social acceptability of new investments, which cannot be neglected for changes like those under way. The paper says that the technological change must become the opportunity to improve the competitiveness of the energy industry in a win win strategy.
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The international targets for environmental sustainability require to address the investments of the energy sector towards renewable energy sources. This process of technology substitution could be a dramatic opportunity of growth for the... more
The international targets for environmental sustainability require to address the investments of the energy sector towards renewable energy sources. This process of technology substitution could be a dramatic opportunity of growth for the Italian industrial sector, if managed with a focused and coherent approach. The Italian SME have a good tradition in facing new technological challenges. The international market for renewable energy technologies is growing very fast, giving unprecedented market development to successful enterprises. The paper shows the size of the expected market and identifies some barriers to the consolidation of new industrial sectors. It is given a look to the adopted policies to show how inefficient administrative procedures in this sector can become a cost for the whole Italian economy.
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- The promotion of electricity from renewable energy sources (RES) is a high European Union (EU) priority for several reasons, including the security and diversification of energy supply, environmental protection and social and economic... more
- The promotion of electricity from renewable energy sources (RES) is a high European Union (EU) priority for several reasons, including the security and diversification of energy supply, environmental protection and social and economic cohesion. The EU Council's decision of 9 March 2007 points towards increasing renewable penetration to 20% of total primary energy supply by 2020 (binding target). There are both costs and benefits associated with the achievement of such an ambitious target. For renewable technologies, the industrial cost is often higher compared to other energy sources. however, due to learning curve effects and market diffusion, technology related costs are coming down considerably. In some cases, when the external costs are taken into account by the price system, renewables can now be close to competitive with fossil fuels. With particular reference to renewable electricity in Italy, its development is often hampered by burdensome and time consuming authorisation procedures with the consequence of a high "mortality" rate for the investments in the sector, leading to increased costs for the project management. Therefore, in these projects an important cost factor is the high cost of capital due to risk. The analysis of the various renewables' support mechanisms currently in place in the EU shows that some types of incentive have proven to be more efficient than others in reducing the risk perception of investors and financing institutions, therefore making projects less expensive by reducing the cost of capital (both debt and equity). Therefore the focus here is on the electricity generation costs of some renewable technologies and on the costs related to the "additional" risk perceived by investors/lenders in the sector. The authors estimate the additional cost of capital which investors pay when operating in a risky environment. Some policy indications are finally given to reduce the non-technology related costs for a faster and more efficient growth of the sector. JEL Class. L98, Q28, Q48 Key words: renewable energy, electricity cost, administrative procedures, system inefficiency
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... Finland: Investment subsidies are given to small hydro, onshore and offshore wind, solid biomass, biogas, photovoltaic and geothermal. ... Malta: a feed in tariff for solar investments is available. ... Forwind energy, investment... more
... Finland: Investment subsidies are given to small hydro, onshore and offshore wind, solid biomass, biogas, photovoltaic and geothermal. ... Malta: a feed in tariff for solar investments is available. ... Forwind energy, investment subsidies and a small environmental bonus are available ...
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This book focuses on the diversity of electricity reforms in Western Europe, drawing evidence from ten European Union memberstates plus Norway and Switzerland as associate members. The contributors analyse the various ways of introducing... more
This book focuses on the diversity of electricity reforms in Western Europe, drawing evidence from ten European Union memberstates plus Norway and Switzerland as associate members. The contributors analyse the various ways of introducing competition in the European electricity industries, and consider both the strategies of electricity companies and their behaviour in electricity marketplaces. They also offer an explanation of the differences of reforms by the institutions and the industrial structures of each country which shape the types of marketrules, industrial restructuring and public service regulations which have been adopted.
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The realisation of a European internal market for energy is still a work in progress. Written by leading European scholars and discussed with major energy stakeholders, this book presents a thorough analysis of the motives and methods... more
The realisation of a European internal market for energy is still a work in progress. Written by leading European scholars and discussed with major energy stakeholders, this book presents a thorough analysis of the motives and methods needed to achieve a single European energy market.
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A massive deployment of renewable electricity generation took place in Italy in less than eight years. A generous feed-in tariff, coupled with favourable institutional conditions, allowed the installation of more than 28 GW of PV, wind... more
A massive deployment of renewable electricity generation took place in Italy in less than eight years. A generous feed-in tariff, coupled with favourable institutional conditions, allowed the installation of more than 28 GW of PV, wind and other RES technologies. By 2014, Italy has already attained its 2020 goals on RES production. Besides, environmental objectives and compliance with EU targets, the policy was aimed at promoting green jobs and industrial production of RES technologies. Exante economic analyses advocated considerable economic and industrial spill-overs from the introduction of RES support policies. Despite official rhetoric and ex-ante studies about jobs and economic growth associated to RES adoption, at scholarly level there is no consensus on the actual effects and implications of these policies on National economies. This paper provides a first comprehensive ex-post analysis of the Italian case, filling an important gap. Our analysis is carried out with the development of a specific input-output model, with refined technological vectors and with the internalization of trade coefficients. We show that the effects have been unequivocally lower than expected; that most of the jobs created belonged to the service sector and not to the industrial sector and that the value added was much lower than expected due to significant export leakages.
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ABSTRACT The promotion of Renewable Energy Sources (RES) is a priority of the agenda of governments in most European countries. The target of renewable energy for Italy, calculated as a share of renewable generation to gross final energy... more
ABSTRACT The promotion of Renewable Energy Sources (RES) is a priority of the agenda of governments in most European countries. The target of renewable energy for Italy, calculated as a share of renewable generation to gross final energy consumption, is set at 17% for 2020 (from 5.2% in 2005). With particular reference to renewable electricity (RES-e) in Italy, its development is often burdened by costs not strictly related to the plant construction and operation, but rather to the risks associated with its development, which lead to indirect costs. This paper therefore focuses on the costs related to the risks perceived by investors in the sector in Italy and the link between risk and success of the incentive system, estimating the additional cost of capital which investors pay when operating in a risky environment. Some policy indications are given to reduce the non-technology-related costs for a faster and more efficient growth of the sector.
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Fostered by recent regulatory framework enhancements and a considerable innovation push, the formerly abstract end-user aggregation is becoming reality in an increasing number of European energy markets through the digital connection of... more
Fostered by recent regulatory framework enhancements and a considerable innovation push, the formerly abstract end-user aggregation is becoming reality in an increasing number of European energy markets through the digital connection of distributed energy systems. This paper gives an overview of conceptual implementation models for energy aggregators in the European context and how they integrate into the current market structure. To highlight and explain the resulting opportunities of such, a generic energy aggregator business model canvas is elaborated and confronted with the respective business models of three different actually implemented energy aggregators. Based on these, effects on energy markets and their present participants are derived as well as key elements for future application presented.
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A report compiled within the European research project RE-Shaping www.reshaping-res-policy .eu Intelligent Energy - Europe, ALTENER Grant Agreement no. EIE/08/517/SI2.529243 ... Final report: Shaping an effective and efficient European... more
A report compiled within the European research project RE-Shaping www.reshaping-res-policy .eu Intelligent Energy - Europe, ALTENER Grant Agreement no. EIE/08/517/SI2.529243 ... Final report: Shaping an effective and efficient European renewable energy market
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Along with energy policy updates at European level, Italy recently opened its ancillary service market for distributed energy resources. This paper investigates the newly accruing market opportunities for an exemplary battery energy... more
Along with energy policy updates at European level, Italy recently opened its ancillary service market for distributed energy resources. This paper investigates the newly accruing market opportunities for an exemplary battery energy storage system of 1 MW. Based on effective market behavior, derived from a two years data set with hourly resolution, the study provides a comprehensive evaluation of economic options. Two operation modes are therefore confronted, providing upward and downward balancing services in combination with the intraday electricity market. Additionally, different bidding strategies are applied and the economic potential in the different Italian market zones is assessed.