Abstract

http://ssrn.com/abstract=1778429
 
 

References (44)



 
 

Citations (2)



 


 



The Financial Regulation of European Wholesale Energy and Environmental Markets


Ivan Diaz-Rainey


University of Otago - School of Business

Mathias M. Siems


Durham University - Durham Law School; University of Cambridge - Centre for Business Research

John K. Ashton


University of East Anglia - Norwich Business School; University of East Anglia - Centre for Competition Policy

March 5, 2011

USAEE Working Paper No. 11-070

Abstract:     
This study examines the financial risks posed by energy and environmental markets and how these risks are addressed by current regulatory regimes and legislation. This is undertaken using a legislative analysis of the financial regulation of energy and environmental markets, drawing on ‘grey’ literatures to appraise current policy. Initially, it is reported that the movement towards a unified European energy and environmental markets is expected to continue. Second the European Union (hereafter EU) will play an increasingly important role in the financial regulation of energy and environmental markets through bodies such as ACER and ESMA. Third, the new regulatory regime will mean more trading of energy and carbon derivatives will occur on exchanges. Fourth, where feasible there appears to be a movement towards common regulation of both spot and derivative instruments for some (e.g. within carbon and maybe electricity markets), yet not all markets. Lastly, regulation of these markets remains in a state of flux and it is essential the boundaries of regulatory responsibility between energy and financial regulators are assessed to ensure activities leading to risk do not fall between the remits of responsibility.

Number of Pages in PDF File: 28

Keywords: Crises, Financial Regulation, Europe, Energy Markets, Carbon Finance

JEL Classification: G01, Q02, G18, G28, G38

working papers series


Download This Paper

Date posted: March 6, 2011  

Suggested Citation

Diaz-Rainey, Ivan and Siems, Mathias M. and Ashton, John K., The Financial Regulation of European Wholesale Energy and Environmental Markets (March 5, 2011). USAEE Working Paper No. 11-070. Available at SSRN: http://ssrn.com/abstract=1778429 or http://dx.doi.org/10.2139/ssrn.1778429

Contact Information

Ivan Diaz-Rainey (Contact Author)
University of Otago - School of Business ( email )
Dunedin
New Zealand
Mathias M. Siems
Durham University - Durham Law School ( email )
50 North Bailey
Durham, County Durham DH1 3ET
United Kingdom
HOME PAGE: http://www.dur.ac.uk/mathias.siems
University of Cambridge - Centre for Business Research ( email )
Top Floor, Judge Business School Building
Trumpington Street
Cambridge, CB2 1AG
United Kingdom
HOME PAGE: http://www.cbr.cam.ac.uk/about_us/siems.htm
John K. Ashton
University of East Anglia - Norwich Business School ( email )
Norwich, Norfolk NR4 7TJ
United Kingdom
(01603) 591178 (Phone)
(01603) 593343 (Fax)
University of East Anglia - Centre for Competition Policy ( email )
UEA
Norwich, Norfolk NR47TJ
United Kingdom
Feedback to SSRN


Paper statistics
Abstract Views: 1,964
Downloads: 663
Download Rank: 20,610
References:  44
Citations:  2

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo5 in 0.328 seconds