Required reading : IEA, World Energy Outlook 2016, Paris : OECD/IEA 2016 ; Falkner, Robert, A Minilateral Solution to Global Climate Change ? On Bargaining Efﬁciency, Club Beneﬁts and International Legitimacy, Centre for Climate Change Economics and Policy, WP No. 222 (2015) ; IDDRI, Beyond the Numbers : Understanding the Transformation Induced by INDCs, A report of the Project MILES Consortium, IDDRI Report No 5, 2015 ; Coady, David et al, How Large are Global Energy Subsidies ? IMF Working Paper WP15/105, 2015.
introduction to concepts covered in the class and to provide more in depth information to complement this course. Course Description : Energy regulation has been evolving over the last 20 years particularly electricity deregulation. This evolution is a result of growth and development of economic policy combined with market design technologies. As the push to deregulate markets occurs, regulatory frameworks need to be considered as a means to allow a fair playing ﬁeld for all participants while protecting the interests of society. Participants include producers, consumers (industrial, commercial, and retail), transporters, distributors and energy traders/marketers. The reason behind regulations and the impact of regulations will be discussed. Is regulation required in energy markets ? Should energy markets be deregulated ? A case study discussion during the course. Energy market deregulation is a relatively recent event. Natural Gas markets began deregulation in the 1980's and electricity market in the early 1990's. As energy markets have gone through design changes there have been two approaches used. Lead with regulation or follow with regulation. This course will start by describing the concept of energy regulation and the history of regulation processes. Regulation will be presented from three perspectives economic, social and environmental. Different methodologies of regulation will be presented from various regions of the world. Several case studies will be used to illustrate the successes and challenges of regulatory frameworks. Required reading : Energy Deregulation – lessons learned from California, P. Navarro and M. Shames, Energy LJ, 2003 ; PBS.org Is it FERC's fault ? Online article regarding various organisations views on regulation ; Conspiracy of Fools, Kurt Eichenwald, 2005 ; Electricity deregulation in OECD countries, A. Al-Sunaidy, R. Green, Energy, 2006 ; European Review of Energy Markets, Volume 3, issue 3, October 2009, Energy regulation in Europe : Regulatory Policies and politics of regulation, Jorge Vasconcelos.
Semester : Spring Number of hours : 24 Language of tuition : English
Teachers : Eleanor MORRISON (Managing Director, Commodity Reach Ltd, London, UK). Prerequisite : Some knowledge of energy products or energy industry and / or some non-energy related regulations experience. Pedagogical format : Seminar Course validation : Students will complete a short in-class presentation on a selected topic (25%), one term paper (25%) and one take home ﬁnal exam (50%). Students will be expected to participate during in-class organized discussions. The ﬁnal exam should be completed over a 3 hour period of time on an agreed day after the course has ﬁnished. Further details will be provided during the course introduction. Workload : Students should expect to spend 40 hours outside of class time to prepare for class discussions, research and prepare their term paper. Students should be prepared to discuss assigned readings in class. Pedagogical method : Each class is two hours. The ﬁrst hour will be spent presenting the lecture material on following the energy regulation course structure. The second hour of the course will be focused on a practical discussion of the lecture material. The discussions will include reference to case studies as well as recent events. The global and regional perspective will be considered during these class discussions. The reading list is extensive and may seem overwhelming. This list is intend