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Energy Security Concerns versus Market Harmony: The Europeanisation of Capacity Mechanisms

Author

Listed:
  • Merethe Dotterud Leiren

    (CICERO Center for International Climate Research, Norway)

  • Kacper Szulecki

    (Department of Political Science, University of Oslo, Norway)

  • Tim Rayner

    (Tyndall Centre for Climate Change Research, University of East Anglia, UK)

  • Catherine Banet

    (Scandinavian Institute of Maritime Law, University of Oslo, Norway)

Abstract

The impact of renewables on the energy markets–falling wholesale electricity prices and lower investment stability–are apparently creating a shortage of energy project financing, which in future could lead to power supply shortages. Governments have responded by introducing payments for capacity, alongside payments for energy being sold. The increasing use of capacity mechanisms (CMs) in the EU has created tensions between the European Commission, which encourages cross-country cooperation, and Member States that favour backup solutions such as capacity markets and strategic reserves. We seek to trace the influence of the European Commission on national capacity markets as well as learning between Member States. Focusing on the United Kingdom, France and Poland, the analysis shows that energy security concerns have been given more emphasis than the functioning of markets by Member States. Policy developments have primarily been domestically driven, but the European Commission has managed to impose certain elements, most importantly a uniform methodology to assess future supply security, as well as specific requirements for national capacity markets: interconnectors to neighbouring countries, demand side responses and continuous revision of CMs. Learning from other Member States’ experiences also play a role in policy decisions.

Suggested Citation

  • Merethe Dotterud Leiren & Kacper Szulecki & Tim Rayner & Catherine Banet, 2019. "Energy Security Concerns versus Market Harmony: The Europeanisation of Capacity Mechanisms," Politics and Governance, Cogitatio Press, vol. 7(1), pages 92-104.
    • Handle: RePEc:cog:poango:v7:y:2019:i:1:p:92-104
    DOI: 10.17645/pag.v7i1.1791
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    References listed on IDEAS

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    1. Robert Ladrech, 1994. "Europeanization of Domestic Politics and Institutions: The Case of France," Journal of Common Market Studies, Wiley Blackwell, vol. 32(1), pages 69-88, March.
    2. Johan P. Olsen, 2002. "The Many Faces of Europeanization," Journal of Common Market Studies, Wiley Blackwell, vol. 40(5), pages 921-952, December.
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    Cited by:

    1. Kacper Szulecki & Dag Herald Claes, 2019. "Towards Decarbonization: Understanding EU Energy Governance," Politics and Governance, Cogitatio Press, vol. 7(1), pages 1-5.

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