- Energy market
Energy markets are those
commodities markets that deal specifically with the trade and supply of energy. Energy market may refer to anelectricity market , but can also refer to other sources of energy. Typicallyenergy development is the result of a government creating anenergy policy that encourages the development of anenergy industry in acompetitive manner.Liberalization and Regulation
Energy markets have been liberalizated in some countries.
They are regulated by authorities, including liberalizated markets, to protect
consumer right s and avoid oligopolies.Regulators includes the
Australian Energy Market Commission inAustralia , theEnergy Market Authority inSingapore , theEnergy Community in Europe, replacing theSouth-East Europe Regional Energy Market and theNordic energy market forNordic countries . Members of theEuropean Union are required to liberalise their energy markets.Regulators seek to discourage
volatility of prices, reform markets if needed and search for evidence ofanti-competitive behaviour such as trying theformation of a monopoly .Due to the
oil price increases since 2003 andspeculation , energy markets are being reviewed and by 2008 several conferences were organised to address the energy market sentiments ofpetroleum importing nation s. [cite web |url=http://afp.google.com/article/ALeqM5jcQ3Vn4nmwZPvNIj64wVTTSZOq_A |title=EU leaders split on how to tackle soaring oil prices |accessdate=2008-06-20 |format= |work= ] In Russia the markets are being reformed by the introduction of harmonized and all-Russian consumer prices. [cite web |url=http://www.barentsobserver.com/murmansk-struggles-with-higher-electricity-prices.4493743-16149.html |title=Murmansk struggles with higher electricity prices |accessdate=2008-06-20 |format= |work= ]United States
A recent example of the failure of market
oversight enabledEnron to manipulate the energy markets in theUnited States .During 2008 in the United States the
Commodity Futures Trading Commission is conducting an investigation of energy market conditions.International Energy Market
ee also
*
Commodity value
*Demand destruction
*Energy crisis
*Energy derivative
*Energy intensity
*Food vs fuel
*Global warming
*Greenhouse gas
*Renewable energy commercialization
*Spark spread References
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