On February 7 last, the Chair of Sustainable Energy at the University of Barcelona brought together prominent names from the international academic community to discuss the challenges facing the future of the energy sector.
Leading researchers from the field of energy economics at universities in Spain, elsewhere in Europe and the US contributed their views on various issues that will shape the agenda of the energy sector, with a particular focus on economic concerns and policy design. The analysis centred on an examination of recent technological developments, new market reconfigurations and goals of sustainability.
Tooraj Jaasb, from Durham University Business School, and Luis Cabral, from New York University, were the keynote speakers at the meeting. Professor Jamasb opened the conference speaking about smart electricity distribution networks (or Smart Grids). During his talk, he argued that new technologies as applied to networks are facilitating the development of new business models. Before this, the Director of the Chair and IEB researcher, María Teresa Costa- Campi, opened the Symposium in an introductory address that emphasized the importance of research for overcoming the challenges faced by the energy sector. Professor Cabral closed the meeting by presenting his analysis of recent academic developments in the field of industrial organization and their application to the energy sector. More specifically, he turned his attention to the analysis of competition in retail markets in areas such as the switching of traders and the costs that these changes may entail.
The first session of talks, entitled ‘Technological Challenges for the Energy Sector’, explored key issues related to economic aspects of technological development in the energy sector. The papers presented discussed the future model of the sector and the importance of energy efficiency, the European Commission’s main commitments for the achievement of sustainability. They also analysed the necessary complementarity between fossil fuels and renewable energies, and the role of emerging technologies to combat greenhouse gas emissions in the energy sector, such as carbon capture and storage (CCS).
The second session, entitled ‘Energy Markets’, discussed the new design and possible modifications of markets resulting from the expected introduction of energy systems based on lower fossil fuel shares. Here, papers analysed the market for emission rights (the ETS), emphasizing its impact on the investment decisions of companies developing technologies to combat climate change. They also discussed the need for a flexible system capable of coming to terms with the growing share of renewable energies. In this process of transformation of the energy markets the role of consumers was highlighted, a role that has seen end-users evolve from passive consumers to active participants in the supply of energy and managing their own demand.
Finally, the last session, entitled ‘Energy and Environmental Policy’, placed the emphasis on the regulatory challenges presented by the arrival of a sustainable energy model. These challenges involve both the authorities and society as they seek the optimum balance between energy costs and sustainability. Here, the papers analysed different measures adopted to promote renewable energy in several European countries (Spain, Germany and France) and their impact on consumers. The paper given by Dr Elisa Trujillo-Baute, from the Chair of Sustainable Energy, analysed the impact of European renewable energy regulations on the final price of electricity paid by both industrial and domestic consumers.
The 5th Symposium of the Chair of Energy Sustainability was attended by more than 100 people. The meeting was inaugurated by the Rector of the University of Barcelona, Joan Elías, who was accompanied by the Director of the Barcelona Institute of Economics, Martí Parellada, and the Director of the Chair of Sustainable Energy, María Teresa Costa-Campi.
