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Leading to the enhancement of smart grid implementation, the peer-to-peer (P2P) energy transaction concept has grown dramatically in recent years allowing the end-users to successfully exchange their excess generation and demand in a more profitable way. This paper presents local energy market (LEM) architecture with various market strategies for P2P energy trading among a set of end-users (consumers and prosumers) in a smart residential locality. In a P2P fashion, prosumers/consumers can export/import the available generation/demand in the LEM at a profit relative to utility prices. A common portal known as the transactive energy market operator (TEMO) is introduced to manage the trading in the LEM. The goal of the TEMO is to develop a transaction agreement among P2P players by establishing a price for each transaction based on the price and trading demand provided by the participants. A few case studies on a location with ten residential P2P participants validate the performance of the proposed TEMO.

Connections to world markets facilitate local markets developments to support more efficient capital allocation and greater investment and growth opportunities. Under the framework of cross-market rebalancing theory, in this study, we aim to systematically examine the market connections among world financial, energy, renewable energy and European carbon markets by measuring the return spillovers from 2008 to 2021. We find that the renewable energy market is more closely connected to the world financial and energy markets in the sense of the return transmission, while the carbon market is less connected to them. However, due to improved market regulations and determinations related to fighting climate change, the connections between the carbon market and other markets have gradually intensified. Plotting the return spillover indexes, we observe that strong return spillovers from the renewable energy market to other markets occurred when large investment plans were announced. Regarding the carbon market, regulation changes introduced by the EU Commission to improve and stabilize market environment induced intensified return transmission from carbon market to other markets. Another interesting finding is that the highly intensified return transmission among markets due to the COVID-19 crisis started to loosen when COVAX published the first interim distribution forecast on 3 February 2021.

The Middle East and North Africa (MENA) region is one of the most water-stressed parts of the world. In just over 25 years, between 1975 and 2001. Looking to the future, MENA's freshwater outlook is expected to worsen because of continued population growth and projected climate change impacts. The region's population is on the way to doubling to 700 million by 2050. Projections of climate change and variability impacts on the region's water availability are highly uncertain, but they are expected to be largely negative. To offer just one more example, rainfall and freshwater availability could decrease by up to 40 percent for some MENA countries by the end of this century. The urgent challenge is how to adapt to the future as illustrated by these numbers and how to turn the region's economy onto a sustainable path. This volume suggests new ways of thinking about the complex changes and planning needed to achieve this. New thinking will mean making better use of desert land, sun, and salt water the abundant riches of the region which can be harnessed to underpin sustainable growth. More mundane, but just as important, new thinking will also mean planning for dramatically better management of the water already available. Right now, water is very poorly managed in MENA. Inefficiencies are notorious in agriculture, where irrigation consumes up to 81 percent of extracted water. Similarly, municipal and industrial water supply systems have abnormally high losses, and most utilities are financially unsustainable. In addition, many MENA countries overexploit their fossil aquifers to meet growing water demand. None of this is sustainable while water resources decline. This volume hopes to add to the ongoing thinking and planning by presenting methodologies to address the water demand gap. It assesses the viability of desalination powered by renewable energy from economic, social, technical, and environmental viewpoints, and it reviews initiatives attempting to make renewable energy desalination a competitively viable option. The authors also highlight the change required in terms of policy, financing, and regional cooperation to make this alternative method of desalination a success. And as with any leading edge technology, the conversation here is of course about scale, cost, environmental impact, and where countries share water bodies plain good neighborly behavior.

The wholesale electricity and capacity market constitute the backbone of the Russian power industry. It is in this market that large suppliers and buyers operate, and its entire turnover is consequently transmitted to the retail market. Our paper presents a theoretical overview of the main tools for forming the cost of electricity and capacity in the wholesale market in Russia (depending on the regional affiliation), the type of end users, and the degree of state participation. We consider the specifics of the formation of the cost of electricity and capacity in the price and non-price wholesale markets of Russia, which differ in territorial, climatic, and economic characteristics, as well as the established structure of generation. In the empirical part of the paper, we carry out a structural analysis of the volumes of trade in electricity and capacity in the price and non-price zones of the market. Furthermore, we explain the reasons for the current dynamics of prices in the wholesale market. Using the obtained results, we calculate the maximum annual effect of the solar power plant operation in various zones of the Russian wholesale market, as well as in the retail market. In addition, we estimate the economic incentive for the transition of the functioning of power facilities from the wholesale to the retail market. Our results can be of considerable practical importance and might be used for improving the strategy for the development of the electric power industry at the regional level both in Russia and in the other countries.

The energy stock price index maps the development trends in China’s energy market to a certain extent, and accurate forecasting of China’s energy market index can effectively guide the government to regulate energy policies to cope with external risks. The vector error correction model (VECM) analyzes the relationship between each indicator and the output, provides an external explanation for the way the indicator influences the output indicator, and uses this to filter the input indicators. The forecast results of the China energy stock price index for 2022–2024 showed an upward trend, and the model evaluation parameters MAE, MAPE, and RMSE were 0.2422, 3.5704% and 0.3529, respectively, with higher forecasting efficiency than other comparative models. Finally, the impact of different indicators on the Chinese energy market was analyzed through scenario setting. The results show that oscillations in the real commodity price factor (RCPF) and the global economic conditions index (GECON) cause fluctuations in the price indices of the Chinese energy market and that the Chinese energy market evolves in the same manner as the changes in two international stock indices: the MSCI World Index and FTSE 100 Index.

With the development and refinement of the carbon emissions trading market, the relationship between the carbon market and the stock market has grown increasingly intertwined. This has led to a surge in research investigating the interactions between the carbon market and related sectors. This study examines the intensity and direction of spillover effects among ten industries associated with carbon emissions, spanning traditional and emerging energy sectors. Through static analysis, we find that spillover effects between industries in the carbon and stock markets are bidirectional and asymmetric. Dynamic analysis reveals that the carbon market, acting as the primary recipient of spillover effects, is notably influenced by traditional energy industries such as coal and oil, followed by photovoltaics, new energy vehicles, and others. The magnitude of these spillover effects is subject to fluctuations influenced by energy crises and events like the COVID-19 pandemic, while policy interventions can alter the overall trends in net spillover effects across various industries.

This report summarizes the results of a recent review of the emerging experience with the design and implementation of policy instruments to promote the development of renewable energy (RE) in a sample of six representative developing countries and transition economies ('developing countries') (World Bank 2010). The review focused mainly on price- and quantity-setting policies, but it also covered fiscal and financial incentives, as well as relevant market facilitation measures. The lessons learned were taken from the rapidly growing literature and reports that analyze and discuss RE policy instruments in the context of different types of power market structures. The analysis considered all types of grid-connected RE options except large hydropower: wind (on-shore and off-shore), solar (photovoltaic and concentrated solar power), small hydropower (SHP) (with capacities below 30 megawatts), biomass, bioelectricity (cogeneration), landfill gas, and geothermal. The six countries selected for the review included Brazil, India, Indonesia, Nicaragua, Sri Lanka, and Turkey.

Poorly implemented energy subsidies are economically costly to taxpayers and damage the environment. This report aims at providing the emerging lessons form a representative sample of case studies in 20 developing countries that could help policy makers to address implementation challenges, including overcoming political economy and affordability constraints. The sample has selected on the basis of a number of criteria, including the country’s level of development (and consumption), developing country region, energy security and the fuel it subsidies (petroleum fuel, electricity, natural gas). The case studies were supported by data collection related to direct budgetary subsidies, fuel and electricity tariffs, and household survey data.The analysis provides strong evidence of the success of reforms in reducing the associated fiscal burden. For the sample of countries, the average energy subsidy recorded in the budget was reduced from 1.8% in 2004 to 1.3%GDP in 2010. The reduction of subsidies is particularly remarkable for net energy importers. Pass-through of international fuel prices was also notable in the case of electricity generated by fossil fuel. For the sample of countries, the average end-user electricity tariff increased by 50%, from USD 6 cents in 2002 to USD 9 cents per kWh in 2010.In spite of the relatively price inelastic demand for gasoline and diesel, fossil fuel consumption in the road sector (per unit of GDP) declined in the 20 countries examined from 53 (44) in 2002 to about 23 kt oil equivalent per million of GDP in 2008 in the case of gasoline (Diesel). The most notable decline in consumption was recorded in the low and lower middle income countries. This reflects the much higher rate of growth in GDP in this group of countries and underlines the opportunities to influence future consumption behavior rather than modifying the existing consumption patterns, overcoming inertia and vested interests. Similar trends are recorded for power consumption.While there is no one-size-fits-all model for subsidy reform, implementation of compensatory social policies and an effective communication strategy, before the changes are introduced, reduces helped with the implementation of reforms.

The increasing adoption of highly variable renewable energy has introduced unprecedented volatility into the National Electricity Market (NEM), rendering traditional linear price forecasting models insufficient. The Australian Energy Market Operator (AEMO) spot price forecasts often struggle during periods of volatile demand, renewable variability, and strategic rebidding. This study evaluates whether transformer architectures can improve intraday NEM price forecasting. Using 34 months of market data and weather conditions, several transformer variants, including encoder–decoder, decoder-only, and encoder-only, were compared against the AEMO’s operational forecast, a two-layer LSTM baseline, the Temporal Fusion Transformer, PatchTST, and TimesFM. The decoder-only transformer achieved the best accuracy across the 2–16 h horizons in NSW, with nMAPE values of 33.6–39.2%, outperforming both AEMO and all baseline models. Retraining in Victoria and Queensland produced similarly strong results, demonstrating robust regional generalisation. A feature importance analysis showed that future-facing predispatch and forecast covariates dominate model importance, explaining why a decoder-only transformer variant performed so competitively. While magnitude estimation for extreme price spikes remains challenging, the transformer models demonstrated superior capability in delivering statistically significant improvements in forecast accuracy. An API providing real-time forecasts using the small encoder–decoder transformer model is available.

A decarbonised future grid should couple technological novelty with innovative market models to efficiently capture the value of grid‐edge decarbonised assets. The transactive energy (TE) concept inverts the centralised grid model by leveraging the evolution of consumers to prosumers to prosumagers. The principal TE market design challenge is transactive control—using market and pricing mechanisms to coordinate autonomous peer interactions, to optimally allocate power and incentivise peers. Peer attraction, incentivisation and retention are all critical for practical TE implementation along three adoption stages, starting from independent peer transactions with the centralised market; to decentralised peer coordination; towards distributed peer‐to‐peer trading. Addressing gaps in related scholarship, the authors investigate the economic positions of distinct peer roles in each adoption stage and two local pricing strategies. Using a real market dataset, trading decisions are simulated over a 1‐year horizon at hourly granularity. Coordinated action achieves better transactive control for the community, with economic superiority over centralised and distributed mechanisms. Distinct peer incentives should equitably align with their contribution to market functionality, such as the value ascribed to prosumagers' flexibility in local pricing and the constrained bargaining power of prosumers in distributed bilateral negotiations. Addressing gaps in related scholarship, the authors use a case study approach to quantify the economic outcomes of distinct peer evolutionary roles (consumers, prosumers, and prosumagers) as they participate in the market designs (centralised, decentralised, and distributed peer‐to‐peer) along the transactive energy maturity roadmap. Decentralised coordinated action is economically superior for the community, over centralised and distributed mechanisms. However, distinct peer incentives should equitably align with their contribution to market functionality, such as the value ascribed to prosumagers' flexibility in local prices and the constrained bargaining power of prosumers in distributed bilateral negotiations.