Uncertainties in the European Energy Market: Modelling Approaches and policy issues

Project managerRolf Golombek
ClientNorges Forskningsråd
Client project no.228810
ParticipantsKjell Arne Brekke
Simen Gaure
Rolf Golombek
Sverre A. C. Kittelsen
Hilde Hallre Le Tissier
Eric Nævdal
Period2013 - 2016 (ended)

Project description

Policy should take account of factors like economic performance, energy security and emission of harmful materials, as well as uncertainty, in a systematic, coherent way when deciding which policy to implement in order to reach a specified target. This requires development of a framework that assesses different concerns when energy decisions are taken under uncertainty. The aim of this project is to develop a detailed stochastic, numerical model of the energy industry that covers all countries in Europe that can be used for policy analyses when agents make decisions under uncertainty. Both domestic policies, for example, initiatives to spur Norwegian production of clean energy, as well as EU policies, for example, the triple 20 percent targets and the road to a low carbon European society, can be examined with our model.


Scientific Journal

Brekke, K.A., R. Golombek, M. Kaut, S.A.C. Kittelsen, S.W. WallaceStochastic energy market equilibrium modeling with multiple agents2017Energy Vol 134, 984-990[PDF] [DOI]
Aune, Finn Roar, Rolf Golombek, Arild Moe, Knut Einar Rosendahl and Hilde Hallre Le TissierLiberalizing Russian Gas Markets - An Economic Analysis2015Energy Journal Vol 36 - Adelman Sepcial Issue, 63-97[PDF] [DOI]

Other publications

Golombek, Rolf, Finn Roar Aune, Hilde Hallre Le TissierPhasing Out Nuclear Power in Europe2016[PDF]