Marten Ovaere

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• PhD Economics
• Assistant Professor of Economics at Ghent University

To provide a strong price signal for greenhouse gas emissions abatement, Europe decided to strengthen the European Union Emissions Trading System (EU ETS) by implementing a market stability reserve (MSR) that includes a cancellation policy and to increase the linear reduction factor from 1.74% to 2.2% after 2020. Results of a detailed long-term inv...

Kenneth Gillingham is an Associate Professor of Economics at Yale University, with a primary appointment in the School of Forestry & Environmental Studies. In 2015 to 2016, he served as the Senior Economist for Energy and the Environment at the White House Council of Economic Advisers. His research interests cover energy and environmental economics...

Significance There is substantial policy-maker interest in assuring that the benefits from rooftop solar photovoltaic systems are shared by communities of all income groups. This study performs a field experiment leveraging a limited-time grassroots campaign to promote household adoption of solar to test the effectiveness of two messaging approache...

This paper surveys climate and energy policy in the EU transport sector covering the road, aviation, and shipping sectors. We summarise current policies, focusing on the Fit for 55 Package, and link the different instruments being used (e.g. cap-and-trade, tax, mandate, performance standard, or subsidy) to different sources of market failure. Next,...

We develop a three-stage game with three governments, a EU-US aircraft production duopoly, and competitive airlines. The model determines the optimal combination of fossil fuel taxes and fuel efficiency standards to decarbonize the aviation sector with imperfect competition and technological spillovers, under various government cooperation levels....

CO2-neutral hydrogen may play a pivotal role in a decarbonized energy system as an energy carrier and feedstock in hard-to-abate sectors such as industry (e.g., iron & steel, chemicals) and long-haul transportation(e.g., aviation & shipping). Hydrogen, however, comes in many metaphorical “colors”, depending on its source of production, like “gray”...

This paper studies the consistency between two contradictory policies in the electricity industry. On the one hand, electricity systems are increasingly interconnected. On the other hand, reliability standards, whose value was typically set when countries were hardly interconnected, are still enforced at the national level. We show that enforcing a...

The EU emissions trading system’s (ETS) invalidation rule implies that shocks and overlapping policies can change cumulative carbon emissions. This paper explains these mechanisms and simulates the effect of COVID-19, the European Green Deal, and the recovery stimulus package on cumulative EU ETS emissions and allowance prices. Our results indicate...

This paper surveys climate and energy policy in the EU transport sector covering the road, aviation, and shipping sectors. We summarise current policies, focusing on the Fit for 55 Package, and categorise them according to their targeted decision stage (consumption, investment, or research) and the type of instrument being used (e.g. cap-and-trade,...

This paper studies the use of national reliability standards, defined as loss of load expectation (LOLE) targets, in generation adequacy assessments when electricity systems are interconnected. We show that enforcing autarky reliability standards may still reach the welfare optimum in the presence of interconnections, but only under two conditions....

The EU emissions trading system’s (ETS) invalidation rule implies that shocks and overlapping policies can change cumulative carbon emissions. This paper explains these mechanisms and simulates the effect of COVID-19, the European Green Deal, and the recovery stimulus package on cumulative EU ETS emissions and allowance prices. Our results indicate...

Early career (doctoral and postdoctoral) researchers often lack experience with transdisciplinary research despite their interest in tackling societal challenges with colleagues. Engagement in transdisciplinary research may not be an obvious choice because of limited support from their academic environment, difficulties of publishing, or a lack of...

With the Phase 4 cancellation provision, the cumulative emissions cap of the EU ETS has become dependent on the number of surplus allowances and future emissions abatement costs. In this paper, we discuss how the design of the market stability reserve greatly increases uncertainty over cumulative emissions and implies that there will be more cancel...

The value of lost load (VOLL) is an essential parameter for power system reliability. It represents the cost of unserved energy during power interruptions. Various studies have estimated this parameter for different countries and more recently, for different interruption characteristics – such as interruption duration, time of interruption and inte...

This paper proposes a classification of reliability criteria for power systems based on four characteristics: (i) the set of considered system states, (ii) the objective function, (iii) the allowed real-time actions and (iv) optional non-technical constraints. Because selecting a reliability criterion involves a trade-off between multiple opposing...

As the power system is undergoing major changes that affect different stakeholders unequally, power system literature increasingly recognizes the importance of fairness. This paper focuses specifically on the concept and quantification of fairness in the context of power system reliability. Power system decisions not only affect the overall, system...

To provide a strong price signal for greenhouse gas emissions abatement, Europe decided to strengthen the European Union Emissions Trading System (EU ETS) by implementing a market stability reserve (MSR) that includes a cancellation policy and to increase the linear reduction factor from 1.74% to 2.2% after 2020. Results of a detailed long-term inv...

This paper develops a stylized model of cross-border balancing. We distinguish three degrees of cooperation: autarky, reserves exchange and reserves sharing. The model shows that TSO cooperation reduces costs. The gains of cooperation increase with cost asymmetry and decrease with correlation of real-time imbalances. Based on actual market data of...

In the presence of transmission outages, uncertain demand and variable renewable supply, network operators keep a reliability margin to avoid interruptions and black-outs. The reliability margin is presently determined by the N-1 reliability criterion. Our analytical model defines the optimal reliability margin by balancing congestion costs and int...

This chapter discusses power system security, and focuses on steady-state security. Power system reliability is managed in order to minimize the impact to society. Ideally, the achieved power system reliability represents the optimal balance between the value of reliability and its cost. This chapter introduces power system reliability management,...

This paper develops a stylized analytical model that analyses reliability management of multiple TSOs. First we analyse the possibilities for TSO cooperation on reserves dispatch and procurement, with a focus on European network codes. Then we propose a model that theoretically analyses cross-border reserve cooperation. We distinguish two degrees o...

The value of lost load (VOLL) is an essential parameter for transmission system reliability management. It represents the cost of unserved energy of electricity interruptions. Various empirical studies have estimated this parameter for different countries and more recently, for different interruption characteristics - such as interruption duration,...