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Security of European electricity systems : conceptualizing the assessment criteria and core indicators.

Jamasb, T. and Nepal, R. (2013) 'Security of European electricity systems : conceptualizing the assessment criteria and core indicators.', International journal of critical infrastructure protection., 6 (3-4). pp. 182-196.

Abstract

Electricity systems have a central role to play in the transition towards a low carbon economy and the integration of renewable energy sources in the European Union (EU). However, European electricity networks face a diverse set of existing and new risks that can hamper the energy security of the member countries. This paper qualitatively and quantitatively assesses these risks given the changing operating framework characterized by market liberalization and network interconnectedness. Within this context, the paper primarily focuses on the risks from exceptional events and threats to European electricity systems. A simple ex ante risk assessment matrix is proposed to gauge the network risks and take preventative measures. This assessment mechanism can complement the existing ex post reliability and quality of supply performance standards and indicators used by policymakers and practitioners. The analysis presented in this paper suggests that economic risks pose the most serious and challenging threat to the evolving European electricity system.

Item Type:Article
Keywords:Electricity networks, European Union, Energy security, Risks, Regulation.
Full text:(AM) Accepted Manuscript
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Status:Peer-reviewed
Publisher Web site:http://dx.doi.org/10.1016/j.ijcip.2013.07.001
Publisher statement:NOTICE: this is the author’s version of a work that was accepted for publication in International Journal of Critical Infrastructure Protection. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in International Journal of Critical Infrastructure Protection, 6, 3-4, 2013, 10.1016/j.ijcip.2013.07.001.
Record Created:12 Jun 2014 14:50
Last Modified:16 Sep 2014 12:58

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