Assessing the impact of forward trading, retail liberalization, and white certificates on the Italian wholesale electricity prices

Petrella, Andrea; Sapio, Alessandro

doi:10.1016/j.enpol.2011.10.011

Cited by 18 publications

(4 citation statements)

References 39 publications

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“…In addition to promoting renewable sources through incentives, the efficient management of energy resources is of primary importance for carbon-mitigating energy policies [37], including energy plant repowering and upgrading projects [38]. In this context, the white certificate scheme is the main tool for achieving increased industrial EE [39] and reduced energy consumption [40], as suggested by the evidence reported from an analysis the Italian white certificate scheme [41]. Electricity and natural gas distributors with at least 50,000 customers must produce a specified number of white certificates per year [42].…”

Section: Italy's White Certificate Schemementioning

confidence: 99%

Market-Based Instruments to Promote Energy Efficiency: Insights from the Italian Case

et al. 2022

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Market-based instruments such as white certificates offer the potential to increase efficiency gains, reduce primary energy consumption and make energy systems more resilient. The purpose of this paper is to provide insights into the white certificate scheme through a case study analysis. In light of increasing decarbonization and energy efficiency targets, it is important to rethink the role that policy instruments play in the energy transition, including the energy efficiency obligation schemes within which white certificate schemes fall. We focus on Italy’s white certificate scheme because it is among the longest-lived and has achieved notable results. The scheme is characterized by annually increasing energy savings targets, flexibility, the opportunity to include many interventions, and the role of energy services companies. We provide evidence based on an empirical survey and fill the research gap left by the latest updates to the scheme along with an appraisal of those updates, which covers prominent scheme innovations such as its stability mechanism. Our research can serve as a baseline for policymakers in designing white certificate schemes in countries with little related previous experience and provide useful information from countries where similar schemes have been implemented to fine-tune similar market-based mechanisms to improve energy efficiency.

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Section: Italy's White Certificate Schemementioning

confidence: 99%

Market-Based Instruments to Promote Energy Efficiency: Insights from the Italian Case

et al. 2022

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“…9. Other studies have analyzed the IPEX from various points of view; see among othersPetrella and Sapio (2012).…”

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confidence: 99%

Market Power and Transmission Congestion in the Italian Electricity Market

Bigerna¹,

Bollino²,

Polinori

2016

The Energy Journal

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Analysis of market power in electricity markets is relevant for understanding the competitive development of the industry's restructuring and liberalization process, but in the existing literature, there is not an adequate consideration of line transmission congestion. The aim of this paper is to propose a new approach to measuring market power in the Italian Power Exchange (IPEX), explicitly considering transmission line congestion. We construct a new measure of the residual demand curve to disentangle unilateral market power from congestion rent for the main Italian generators during the period April 2004 to December 2007. In Italy, this period was one of stable transmission network structure. Following the approach of Wolak (2003Wolak ( , 2009, we measure the unilateral market power with the Lerner index (LI), computed as the inverse of the residual demand elasticity. In conclusion, the correct modeling of the residual demand curve including transmission congestions enables us to compute the zonal LI and therefore more accurately measure the market power when congestion occurs. Our results show that various generators exercise market power only in specific zones. These findings provide deeper understanding of market outcomes in the presence of congestion, suggesting appropriate policy directions for market surveillance and competition regulation.

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“…Energy suppliers or distributors, which over fulfill their targets, can sell their unused energy efficiency equivalents in the form of WhC to suppliers/distributors which have implemented fewer measures than necessary (Oikonomou et al, 2008;Afshari and Friedrich, 2015). Different types of certificates are issued for energy saving projects concerning electrical energy (Type I), gas (Type II), and other fuels (Type III) (Petrella and Sapio, 2012).…”

Section: A C C E P T E D Accepted Manuscriptmentioning

confidence: 99%

Mathematical modeling and environmental analysis of heat pumps integrated in aprocess to treat spent pickling liquors

Leonzio

2016

Journal of Cleaner Production

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Assessing the impact of forward trading, retail liberalization, and white certificates on the Italian wholesale electricity prices

Cited by 18 publications

References 39 publications

Market-Based Instruments to Promote Energy Efficiency: Insights from the Italian Case

Market-Based Instruments to Promote Energy Efficiency: Insights from the Italian Case

Market Power and Transmission Congestion in the Italian Electricity Market

Mathematical modeling and environmental analysis of heat pumps integrated in aprocess to treat spent pickling liquors

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