Non per profitto. Il settore dei soggetti che erogano servizi di interesse collettivo senza fine di lucro

Quaderni della Fondazione Adriano Olivetti ; 23- Indice #7- Introduzione e problemi di definizione #9- Alcuni problemi teorici #45- Ruolo e rilevanza del terzo settore. Una prospettiva comparata #113- Il caso italiano #227- Appendice #32

Recent energy price dynamics and market enhancements for the future energy transition

EU gas and electricity prices have increased rapidly over the last few months and reached unprecedented levels. While the recent energy price dynamics reflect current market conditions and have little to do with the future energy transition, they provide an opportunity to reflect on the most appropriate electricity market design to support this transition. As a reaction to the recent price surges, calls have been made by different stakeholders, including some national governments, to introduce changes in the electricity market design. Some of these proposals could be interpreted as calling for the ‘pay-as-cleared’ pricing approach in the wholesale day-ahead electricity market to be replaced by some version of the ‘pay-as-bid’ method. This is not the first time that ‘pay-as-bid’ has been proposed to replace ‘pay-as-cleared’ as the remuneration rule in the day-ahead electricity market and every time the conclusion is the same: ‘pay-as-cleared’ is a superior pricing method for the day-ahead electricity market. ‘Pay-as-bid’ pricing would not necessarily result in lower overall payments to resources selling electricity on the market, while possibly having a negative impact on the efficiency of the generation mix used to serve demand. This Policy Brief also assesses how consumers could be protected from the impact of wholesale price volatility on their energy bills and how best to protect vulnerable consumers from higher energy prices without depriving them of the opportunity to participate in electricity markets to offer their valuable flexibility, and which instruments can best ensure resource adequacy in the context of the future energy transition

The 5th EU electricity market reform : a renewable jackpot for all Europeans package?

We think that the electricity markets that were developed over the last two decades did what they were supposed to do during this crisis: through higher prices, they convey the message that energy is scarce. “Shooting the messenger” is not going to remove the problem. However, we also learned a lot during this crisis on how electricity markets can be completed and complemented with regulatory instruments, which is why we have three recommendations: First recommendation: Enable and incentivize consumers and suppliers to hedge via well-functioning forward markets (which would complete the sequence of electricity markets). Second recommendation: Give consumers access to cheap renewables with Contracts for Difference (CfDs) and Power Purchase Agreements (PPAs) that are compatible with short-term markets. Third recommendation: De-risk the investments in energy resources AND mitigate affordability concerns for consumers by redesigning Capacity Remuneration Mechanisms (CRMs) or by complementing these mechanisms with other regulatory tools. We finally observe that a broader reform could also aim at accelerating the innovations on the consumers’ side envisioned by the Clean Energy Package. These innovations can bring the much-needed flexibility in decarbonized energy systems

Sustainable development goal number 7 : how to set appropriate targets, organise an appropriate monitoring, and reach universal access to energy

• In September 2015 the United Nations Assembly established an Agenda 2030 made of 17 Sustainable Development Goals to fight poverty and promote human development. • SDG number 7 recites: “Ensure access to affordable, reliable, sustainable and modern energy for all”. For SDG 7, as well as for the other SDGs, a system of targets and indicators has been set, to allow monitoring the steps toward the goals. • There is one main unsolved problem with Goal 7, and with other Goals. Responsibility for progress has been set at the country level, and monitoring is mainly national. The most difficult task lies in low income countries, where governments do not have sufficient resources to reach the goals by themselves, and even monitoring is weak. • International cooperation is included in the system of targets and indicators, yet mostly in qualitative terms; official development aid is the main variable, directly related to the Goal, that can be measured and for which responsibility is assigned. • We know from reliable sources that Goal number 7 is not being met and that it is highly likely that the problem will remain beyond the year 2030. • A special effort is required. Monitored action should be much broader than official aid. As in the case of climate policies, targets cannot be imposed on independent states and, were they set, no credible system of sanctions would make them mandatory. • New ways to pursue the Goal must be found. A possible solution lies in a set of voluntary commitments plus transparency and reporting obligations, similar to the one introduced in the Paris COP 21 for climate policy. It could allow inclusion of the private sector, partner in the Global Compact, into a joint responsibility mechanism