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Energy Market Participants - Economic and Legal Aspects

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A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "C: Energy Economics and Policy".

Deadline for manuscript submissions: closed (31 January 2023) | Viewed by 11239

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Special Issue Editors

Prof. Dr. Waldemar Tarczyński

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Guest Editor

Department of Sustainable Finance and Capital Market, Institute of Economic and Finance, University of Szczecin, Mickiewicza Str. 64, 71-101 Szczecin, Poland
Interests: econometrics; capital market; risk management; quantitative methods on the capital market; multidimensional comparative analysis; financial analyzes on a macro and micro scale; financial engineering; enterprise finance management; methods of technical; fundamental and portfolio analysis methods of enterprise valuation

Prof. Dr. Kinga Flaga-Gieruszyńska

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Co-Guest Editor

Faculty of Law and Administration, University of Szczecin, ul. Narutowicza 17a, 70-240 Szczecin, Poland
Interests: civil proceedings; alternative dispute resolutions (ADRs); medical law; public health law; bankruptcy and insolvency law; informatization of justice; the legal aspects of AI

Special Issue Information

Dear Colleagues,

The issues of the participants of the energy market are multidimensional, referring both to the economic and legal aspects of the functioning of regulatory entities and other public institutions, which significantly affect the level of free competition and de-monopolization of this market, as well as the instruments of the same type addressed directly to private law entities (entrepreneurs and consumers) important for the functioning of the energy market. The latter issue is particularly interesting from the perspective of the activity of public companies and other entities professionally operating at various stages of energy production, distribution, and sale, which must operate under commercial conditions, but taking into account the limitations resulting from the state's protective policy with regard to weaker market participants. As for the latter group of energy market participants, guarantee instruments focusing on the protection of consumer rights and the perception of the right to energy as a human right of a new generation are of particular importance.

This Special Issue aims to present and disseminate the most recent advances related to the economic and legal aspects of the participation of various entities in the shaping and functioning of the modern energy market.

Topics of interest for publication include, but are not limited to:

1. As part of the economic aspects, authors may in particular address the following issues.
(a) Energy finance and energy markets, including:

Economic models;
Costs and pricing of renewable resources (oil, natural gas, etc.);
Power transmission;
Business models;
Carbon/electricity markets;
Investment and risk diversification.

(b) Energy demand and supply, including:

Energy demand management;
Energy supply chain management;
Energy supply security and reliability;
Analysis and forecasting of electric power/natural gas/coal/fuels/petroleum products.

Energy and national development;
Energy and urban development;
Economic growth and sustainable energy production (electricity/coal/household, etc.).

2. As part of the legal aspects, authors may in particular address the following issues.

Characteristics of legal norms shaping the energy policy of the state as an entity interfering with the functioning of the energy market;
Participants of the energy market from the perspective of European Union law;
Subjective aspects of the functioning of the energy market (legal status, rights and obligations, relations between market participants);
State authorities for the regulation of fuel and energy economy;
Entrepreneurs as entities of the energy market;
Powers of the regulatory authority in the field of concessions, registers and tariffs on the energy market;
Consumers as participants of the energy market;
The right to energy in the human rights system;
Legal status and tasks of public-sector entities in the field of energy efficiency;
Private and public-law financial instruments on the energy market (banks and other financial institutions, state funds, subsidies and grants from public funds, etc.);
Civil law liability of energy market participants;
Transmission easement as the basic instrument for the operation of transmission companies on the energy market;
Criminal law measures as an instrument of state interference in the energy market;
Non-judicial settlement of disputes between participants of the energy market;
Court proceedings involving participants of the energy market.

Prof. Dr. Waldemar Tarczyński
Prof. Dr. Kinga Flaga-Gieruszyńska
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Energies is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

energy policy
participants of the energy market
state authorities for regulation
entrepreneurs as entities of the energy market
powers of the regulatory authority
consumers as participants of the energy market
the right to energy
civil law liability of energy market participants
sustainable energy production
sustainable development
energy demand
energy supply
energy finance
energy markets
investment in energy companies
risk on the energy market
energy market models
business models on the energy market
quantitative methods on the energy market
time series on the energy market
forecasting on the energy market

Published Papers (7 papers)

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Research

15 pages, 606 KiB

Open AccessArticle

The Statutory Model of Energy Performance Contracting as a Means of Improving Energy Efficiency in Public Sector Units as Seen in the Example of Polish Legal Policies

by Daniel Wacinkiewicz and Szymon Słotwiński

Energies 2023, 16(13), 5060; https://doi.org/10.3390/en16135060 - 29 Jun 2023

Cited by 1 | Viewed by 941

Abstract

The intensification of the EU’s institutional action to ensure an appropriate level of energy efficiency demonstrates the key role of pro-saving measures and energy efficiency measures to achieve a climate-neutral economy by 2050. Achieving this goal is therefore also possible through energy performance contracting (EPC), which enables specialised entities called energy service companies (ESCOs) to operate in the market. The creation of an appropriate and favourable framework at the EU level for the use of EPCs does not imply an identical approach by all individual member states. For this reason, the domestic policy of one member state, Poland, was contrasted with the EU framework. Under the influence of the EU guidelines and regulations, the EPC legislations in Poland was amended. This provided a reason to analyse the importance of legal factors (conditions) in implementing the EPC model, especially from the perspective of public institutions. In light of the above, it was attempted to show whether legal regulations would be sufficient to increase the number and level of ESCO projects in public sector units and whether they would remove the barriers to EPC development that are seen in public–private partnerships and the impact of obligations under an energy efficiency improvement agreement on the level of government debt or public finance sector deficit. This paper adopts research methods that are typical to studying EPC topics; however, the research conducted here is theoretical (descriptive analysis) and of dogmatic legal in nature. Full article

(This article belongs to the Special Issue Energy Market Participants - Economic and Legal Aspects)

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16 pages, 1486 KiB

Open AccessArticle

Discount as an Example of a Guarantee Instrument in the Field of the Consumer’s Right to Energy of an Adequate Quality

by Michał Białkowski and Beata Szetela

Energies 2023, 16(4), 1559; https://doi.org/10.3390/en16041559 - 04 Feb 2023

Cited by 2 | Viewed by 904

Abstract

The European Union obliged the member states to introduce monitoring and control tools in order to improve the quality of provided transmission services and to guarantee the contracted amount of energy to end users. However, the EU has left the member states the freedom to create and implement compensation tools, enabling customers to claim their rights arising from non-compliance by transmission companies with the provisions of distribution agreements. The introduction of quantitative energy monitoring and an appropriate compensation mechanism is of great importance not only for end users but also for distribution companies. For end users, this would be a tool to enforce their rights against transmission companies, while transmission companies would gain a tool to control and manage both legal and financial risks. The aim of this study is to analyze discount as an example of a guarantee instrument in the field of the consumer’s right to energy of an adequate quality based on the Polish example supported by a systematic legal review. In the EU, discount is not regulated directly at the EU level; hence, it is impossible to base it on acquis and analyze it through the prism of EU regulation. In Poland, the possibility for recipients to apply for a discount for poor-quality electricity was introduced into the first version of the Energy Law in 1998, long before the adoption of Directive 2019/944 by the EU. The fundamental issues that were addressed and discussed in this paper were as follows: (1) Is the discount compensatory in nature? (2) Should it be included in the compensation due to the consumer? (3) Is it possible to reduce it when the power supply interruption results from circumstances beyond the control of the energy company (e.g., unforeseen weather conditions)? Full article

(This article belongs to the Special Issue Energy Market Participants - Economic and Legal Aspects)

9 pages, 3819 KiB

Open AccessArticle

Evaluation of the Possibility of Increasing the Energy Absorption Efficiency of Fender Devices Using the Example of Cylindrical Fenders with Additional Structural Elements Applied

by Joanna Tuleja, Katarzyna Kędzierska, Mariusz Sowa and Przemysław Galor

Energies 2023, 16(3), 1165; https://doi.org/10.3390/en16031165 - 20 Jan 2023

Cited by 1 | Viewed by 1211

Abstract

The providers of transport services in ports must ensure there is adequate protection of the quays against the hulls of vessels. Highly elastic fenders mounted on the wharfs or on the hulls of vessels are used to absorb the energy of an impact. The structure of the fender, and the highly elastic material used to make it, are designed to ensure the highest possible absorption energy with minimized reaction force. In this work, the efficiency of energy absorption by cylindrical fenders into which additional structural elements were introduced in the form of holes of various diameters, was determined numerically using the finite element method. It was found that the features of such structural elements affect the efficiency of their energy absorption. In order to confirm the accuracy of the numerical calculations, they were verified based on experimental determination of the functional parameters of the cylindrical fenders. The reaction force and absorption energy values determined numerically and experimentally for the cylindrical fender were shown to be consistent. The verified numerical calculation methodology was used to evaluate the energy absorption efficiency and the reaction force in cylindrical fenders with additional structural elements. Full article

(This article belongs to the Special Issue Energy Market Participants - Economic and Legal Aspects)

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26 pages, 4096 KiB

Open AccessArticle

Nurturing Green Consumer Values and Renewable Energy Reliance through Societal Education in Uttar Pradesh for Inclusive Capacity Building

by Uma Shankar Singh, Malgorzata Nermend and Swapnil Singh

Energies 2023, 16(1), 451; https://doi.org/10.3390/en16010451 - 31 Dec 2022

Cited by 1 | Viewed by 1575

Abstract

The main focus of this research has been on examining the renewable energy sources (RESs) consumption with respect to green consumer values (GCVs). These GCVs have primarily been examined with regard to different products and services. The most significant strategy for strengthening everyone is social education. While GCVs are assumed to be nurtured through education, specific understanding about the long-term benefits of renewable energy for a sustainable life is measured with the belief that the greater the training and development the better shaped the society can be, which boosts morale and increases their energy reliance with RES, assessed by the respondents of Uttar Pradesh (UP), as the outcome of the research. The implications for the stakeholders are the long-term advantages of renewable energy for a sustainable existence, since a society may be better formed and its reliance on RESs for energy rises the more training and development it receives. The advantages are visible, though we may not be able to completely transition soon, but it is crucial that we think for the future. The quantitative research method applies statistical analyses, such as ANOVA, spectral analysis, and multilayer perceptron analysis, justifying the requirement of education. The results justify that the solution to this problem—that green consumer values are being learned—can be nurtured by societal education. Learning about green consumer values can make society understand the renewable energy benefits, which can better shape society and lead to capacity building. Full article

(This article belongs to the Special Issue Energy Market Participants - Economic and Legal Aspects)

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25 pages, 2435 KiB

Open AccessArticle

Economic Crisis Impact Assessment and Risk Exposure Evaluation of Selected Energy Sector Companies from Bombay Stock Exchange

by Małgorzata Tarczynska-Luniewska, Iwona Bak, Uma Shankar Singh and Guru Ashish Singh

Energies 2022, 15(22), 8624; https://doi.org/10.3390/en15228624 - 17 Nov 2022

Cited by 3 | Viewed by 1611

Abstract

The energy sector is one of the most important sectors as it is the producer and supplier of fuel to run other industries and economies. This research aims to present an intertwined structure of risk exposure measuring the performance of the S&P Bombay Stock Exchange (BSE) Energy Index and selected companies from the constituents while taking into account two scenarios of risk, namely the COVID-19 pandemic and the Russia–Ukraine conflict, in a manner appropriate for energy stock investors, energy companies, and the economy through hedging against investment risk, diversification in operations securing the continuation of energy production, and the risk of fluctuating prices in the energy market, respectively. The research problem is observed as the requirement to choose the representative stocks of the S&P (BSE) Energy Index to evaluate their situations during the period of the two crisis scenarios and to provide the current risk exposure to India’s energy sector. The methodological approach was through the process of selecting the stock market, the reason behind selecting the energy sector, analyzing the crisis situation, and finally providing the risk exposure matrix. The COVID-19 pandemic affected the index and stocks only in the beginning when the market was scared psychologically. The Russia–Ukraine conflict is considered to measure the stock status showing the effect on the index and the effect on selected stocks showing a deviated performance. All ten companies representative of the S&P BSE Energy Index ranked in the increasing order of risk exposure comparatively and concludes a high potential growth and return. Full article

(This article belongs to the Special Issue Energy Market Participants - Economic and Legal Aspects)

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14 pages, 1389 KiB

Open AccessFeature PaperArticle

The Significance of the “Power Purchase Agreement” for the Development of Local Energy Markets in the Theoretical Perspective of Polish Legal Conditions

by Szymon Słotwiński

Energies 2022, 15(18), 6691; https://doi.org/10.3390/en15186691 - 13 Sep 2022

Cited by 4 | Viewed by 2291

Abstract

Today’s geopolitical and economic situation (negative economic effects of COVID-19; war in Ukraine) adversely affects the energy market situation. These circumstances make it necessary to quickly adapt the previously adopted long-term strategies for transforming the energy market to maximise the country’s energy security through greater diversification and energy self-reliance. The legal systems of the Member States, including Poland, provide for various instruments to support the production of electricity from renewable sources. However, each Member State has a different potential for producing energy from renewable sources (later as RES), so the measures used to promote the use of energy from renewable sources in the broad sense are tailored to achieve the desired level of renewable energy production, particularly under EU law. For this reason, a variety of support models are used in the Member States, which are subdivided into direct (e.g., feed-in tariffs) and indirect (e.g., tax credits). However, state support schemes for renewable energy production do not always allow producers to have stable, long-term revenues and sources of additional income that guarantee the possibility to raise external financing for RES projects. However, irrespective of the support measures used in individual countries, European electricity markets (following the American system) have created a non-public instrument—the power purchase agreement (later PPA or PPAs). In 2021 alone, Europe saw record volumes of renewable energy contracted under PPAs—6.9 GWh. Despite the importance of PPAs for the development of renewable energy (most evident in the Danish, Finnish, British and Norwegian markets), Polish legal acts do not apply this contractual construct. Although Polish law creates the possibility for energy market participants to establish PPAs, these agreements will not be a key instrument for the development of renewable energy at the local level, as they are not a sufficient alternative to the current public forms that support renewable energy generation in Poland. This analysis proves that the existing status of regulations in Poland means that PPAs have limited significance and are rather dedicated to entities that will be able to face up to administrative, legal and technological barriers as an addition to the public support system. The analyses conducted are theoretical in nature. The research is based on the dogmatic approach (the analysis of the law in force) applied in the science of law, which is part of the social sciences. Full article

(This article belongs to the Special Issue Energy Market Participants - Economic and Legal Aspects)

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26 pages, 6218 KiB

Open AccessArticle

Renewable Energy Decision Criteria on Green Consumer Values Comparing Poland and India Aligned with Environment Policy for Sustainable Development

by Uma Shankar Singh, Małgorzata Rutkowska and Paweł Bartoszczuk

Energies 2022, 15(14), 5046; https://doi.org/10.3390/en15145046 - 11 Jul 2022

Cited by 4 | Viewed by 1574

Abstract

Renewable energy consumption is the call by United Nation Sustainable Development Goals, and sustainable consumption is the only solution for the future. This study found that the solution to the framed problem has a requirement to categorize the green consumer value parameters in hierarchy of importance for five specific RESs and their alignment with environment policy based on a comparison of Poland and India. The study revealed the importance of each criterion for renewable energy sources providing, a comparative table of Poland and India. The methodological approach used secondary data for selecting countries, and primary data are used for statistical analysis of Automatic Linear Modelling. The research concludes that the CRITERIA4 is one of the most important that emerged with all five RESs for Poland and three RESs for India. Both countries are aligned with the UN sustainable development goals and are switching over to all means of sustainability. Poland scores a higher value of importance compared to India, which justifies the awareness of consumers. Full article

(This article belongs to the Special Issue Energy Market Participants - Economic and Legal Aspects)

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