Market-based Options for Security of Energy Supply

Abstract

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Conceptualising energy security and making explicit its polysemic nature

“…The main issue of concern is the reliability and continuity of available technological and commercial mechanisms which convert primary energy sources for end-use by consumers. Long-term risks concern the adequacy of supply to meet demand and the adequacy of infrastructure to deliver supply to markets which will, in turn, depend on levels of investment and contracting, the development of technology and the availability of primary energy sources (Egenhofer, Gialoglu et al, 2004). Therefore the meaning attributed to energy security will differ across time because the probability, likelihood and consequences of different risks or threats to supply will vary over time.…”

Quantifying the geopolitical dimension of energy risks: A tool for energy modelling and planning

“…A more detailed explanation about this technique and the calculation process can be found in Appendix A. 8 It was previously said that a country's geopolitical energy risk (to the EU) can be described as the combined result of four risk components that correspond to the economic, energy-specific, socio-political and EU-relations dimensions. Although no single variable can be used to estimate these risk components, a group or vector of highly correlated variables can be identified for each component that could be used in factor analysis to reveal the four underlying dimensions of the geopolitical energy risk or partial risk factors.…”

“…The other correlations are not significant. 8 For further information see Ref. [35] and a more recent approach in Ref.…”

Electric power transmission: An overview of associated burdens

“…There have been developed worldwide three different methods of calculating the cost of non disposed electricity. The commercial estimation based on the market economy [63], the estimation taking into consideration the consumers (polls) [54], the estimation based on social cost, taking into consideration the burdening of the whole economy (relating GDP with the total electricity demand) [64][65][66]. The costs associated with electricity supply disruptions are expenditure for military, policy, and emergency services; expenditure on public transport; healthcare expenditure; sanitation and waste disposal; other public services; and human life values [64].…”