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Energy markets are those commodities markets that deal specifically with the trade and supply of energy
Energy (society)

The use of energy has been a key in the development of the human society by helping it to control and adapt to the Natural environment. Managing the use of energy is inevitable in any functional society....
. Energy market may refer to an electricity market
Electricity market

In economic terms, electricity is a commodity capable of being bought and sold. An electricity market is a system for effecting the purchase and sale of electricity, using supply and demand to set the price....
, but can also refer to other sources of energy. Typically energy development
Energy development

Energy development is the ongoing effort to provide sufficient primary energy sources and secondary energy forms to fulfill civilization's needs....
 is the result of a government creating an energy policy
Energy policy

Energy policy is the manner in which a given entity has decided to address issues of energy development including energy production, Resource distribution and Consumption ....
 that encourages the development of an energy industry
Energy industry

The energy industry is a generic term for all of the industry involved the production and sale of energy, including fuel extraction, manufacturing, oil refinery and distribution....
 in a competitive manner.

gy markets have been liberalizated in some countries.

They are regulated by authorities, including liberalizated markets, to protect consumer rights and avoid oligopolies
Oligopoly

An oligopoly is a market form in which a market or industry is dominated by a small number of sellers . The word is derived from the Greek language for few sell....
.

Regulators includes the Australian Energy Market Commission
Australian Energy Market Commission

The Australian Energy Market Commission was set up by the Council of Australian Governments through the Ministerial Council on Energy in 2005. The AEMC has two roles in relation to national energy markets - as Rule maker and as a provider of advice to Ministers on how best to develop energy markets over time....
 in Australia
Australia

Australia, officially the Commonwealth of Australia, is a country in the southern hemisphere comprising the Australia of the world's smallest continent, the major island of Tasmania, and numerous list of islands of Australia in the Indian Ocean and Pacific Oceans....
, the Energy Market Authority
Energy Market Authority

Singapore Energy Market Authority promotes competition in the electricity and piped gas industry and maintains the security and reliability of the power system....
 in Singapore
Singapore

Singapore , officially the Republic of Singapore, is an island country microstate located at the southern tip of the Malay Peninsula. It lies 137 kilometres north of the equator, south of the Malaysian state of Johor and north of Indonesia's Riau Islands....
, the Energy Community in Europe, replacing the South-East Europe Regional Energy Market
South-East Europe Regional Energy Market

The South-East Europe Regional Energy Market became part of the EU?s wider internal energy market on 25 October 2005 by the creation of the common European Energy Community in the framework of Stability Pact for South Eastern Europe....
 and the Nordic energy market
Nordic energy market

Nordic energy market is a common market for energy in Nordic countries. It is one of the first free energy markets in Europe and is traded in Nord Pool....
 for Nordic countries
Nordic countries

File:Location Nordic Council.svgThe Nordic countries make up a region in Northern Europe and far northeastern North America, called the Nordic region, consisting of Denmark, Finland, Iceland, Norway and Sweden and their associated territories which include the Faroe Islands, Greenland and ?land....
.






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Energy markets are those commodities markets that deal specifically with the trade and supply of energy
Energy (society)

The use of energy has been a key in the development of the human society by helping it to control and adapt to the Natural environment. Managing the use of energy is inevitable in any functional society....
. Energy market may refer to an electricity market
Electricity market

In economic terms, electricity is a commodity capable of being bought and sold. An electricity market is a system for effecting the purchase and sale of electricity, using supply and demand to set the price....
, but can also refer to other sources of energy. Typically energy development
Energy development

Energy development is the ongoing effort to provide sufficient primary energy sources and secondary energy forms to fulfill civilization's needs....
 is the result of a government creating an energy policy
Energy policy

Energy policy is the manner in which a given entity has decided to address issues of energy development including energy production, Resource distribution and Consumption ....
 that encourages the development of an energy industry
Energy industry

The energy industry is a generic term for all of the industry involved the production and sale of energy, including fuel extraction, manufacturing, oil refinery and distribution....
 in a competitive manner.

Liberalization and Regulation

Energy markets have been liberalizated in some countries.

They are regulated by authorities, including liberalizated markets, to protect consumer rights and avoid oligopolies
Oligopoly

An oligopoly is a market form in which a market or industry is dominated by a small number of sellers . The word is derived from the Greek language for few sell....
.

Regulators includes the Australian Energy Market Commission
Australian Energy Market Commission

The Australian Energy Market Commission was set up by the Council of Australian Governments through the Ministerial Council on Energy in 2005. The AEMC has two roles in relation to national energy markets - as Rule maker and as a provider of advice to Ministers on how best to develop energy markets over time....
 in Australia
Australia

Australia, officially the Commonwealth of Australia, is a country in the southern hemisphere comprising the Australia of the world's smallest continent, the major island of Tasmania, and numerous list of islands of Australia in the Indian Ocean and Pacific Oceans....
, the Energy Market Authority
Energy Market Authority

Singapore Energy Market Authority promotes competition in the electricity and piped gas industry and maintains the security and reliability of the power system....
 in Singapore
Singapore

Singapore , officially the Republic of Singapore, is an island country microstate located at the southern tip of the Malay Peninsula. It lies 137 kilometres north of the equator, south of the Malaysian state of Johor and north of Indonesia's Riau Islands....
, the Energy Community in Europe, replacing the South-East Europe Regional Energy Market
South-East Europe Regional Energy Market

The South-East Europe Regional Energy Market became part of the EU?s wider internal energy market on 25 October 2005 by the creation of the common European Energy Community in the framework of Stability Pact for South Eastern Europe....
 and the Nordic energy market
Nordic energy market

Nordic energy market is a common market for energy in Nordic countries. It is one of the first free energy markets in Europe and is traded in Nord Pool....
 for Nordic countries
Nordic countries

File:Location Nordic Council.svgThe Nordic countries make up a region in Northern Europe and far northeastern North America, called the Nordic region, consisting of Denmark, Finland, Iceland, Norway and Sweden and their associated territories which include the Faroe Islands, Greenland and ?land....
. Members of the European Union
European Union

The European Union is an economic and political union of 27 European Union member state, located primarily in Europe. It was established by the Treaty of Maastricht on 1 November 1993 upon the foundations of the pre-existing European Economic Community....
 are required to liberalise their energy markets.

Regulators seek to discourage volatility
Volatility

Volatility is the measure of the state of instability.*For volatility in chemistry, see Volatility .*For volatility in finance, see Volatility ....
 of prices, reform markets if needed and search for evidence of anti-competitive behaviour such as trying the formation of a monopoly.

Due to the oil price increases since 2003 and speculation
Speculation

Speculation is the assumption of the risk of loss, in return for the uncertain possibility of a reward. Only if one may safely say that a particular position involves no risk may one say, strictly speaking, that such a position represents an "investment." Financial speculation involves the trade, and short-selling of stocks, bond , commodity...
, energy markets are being reviewed and by 2008 several conferences were organised to address the energy market sentiments of petroleum importing nations. In Russia the markets are being reformed by the introduction of harmonized and all-Russian consumer prices.

United States


A recent example of the failure of market oversight
Oversight

selfref|For Oversight in Wikipedia, see...
 enabled Enron
Enron

Enron Creditors Recovery Corporation was an American energy company based in Houston, Texas, Texas. Before its bankruptcy in late 2001, Enron employed approximately 22,000 and was one of the world's leading electricity, natural gas, pulp and paper, and communications companies, with claimed revenues of nearly $101 billion in 2000....
 to manipulate the energy markets in the United States
United States

The United States of America is a Federal government constitutional republic comprising U.S. state and a federal district. The country is situated mostly in central North America, where its Contiguous United States and Washington, D.C., the Capital districts and territories, lie between the Pacific Ocean and Atlantic Oceans, Borders of the U...
.

During 2008 in the United States the Commodity Futures Trading Commission
Commodity Futures Trading Commission

The Commodity Futures Trading Commission is an Independent agencies of the United States government.The Commodity Exchange Act , et seq., prohibits fraudulent conduct in the trading of futures contracts....
 is conducting an investigation of energy market conditions.

International Energy Market


See also

  • Commodity value
    Commodity value

    In the field of economics, the commodity value of a economic good is its free market intrinsic value under optimal use conditions. In a free market, the commodity value of a good will be reflected by its price....
  • Demand destruction
    Demand destruction

    Demand destruction is an economics term used to describe a permanent downward shift in the demand curve in the direction of lower demand of a commodity such as energy industrys, induced by a prolonged period of high prices or constrained supply....
  • Energy crisis
    Energy crisis

    An energy crisis is any great Bottleneck in the supply of energy resources to an Economics. It usually refers to the shortage of Petroleum and additionally to electricity or other natural resources....
  • Energy derivative
    Energy derivative

    Also known as energy trade, oil trade, gas trade, power trade. Major players include major trading houses, oil companies, utilities, financial institutions....
  • Energy intensity
    Energy intensity

    Energy intensity is a Measurement of the energy efficiency of a nation's Economic system. It is calculated as units of energy per unit of GDP....
  • Food vs fuel
    Food vs fuel

    Food vs. fuel is the dilemma regarding the risk of diverting farmland or crops for biofuels production in detriment of the food supply on a global scale....
  • Global warming
    Global warming

    Global warming is the increase in the Instrumental temperature record of the Earth's near-surface air and the oceans since the mid-twentieth century and its projected continuation....
  • Greenhouse gas
    Greenhouse gas

    Greenhouse gases are gases in an atmosphere that Absorption and Emission radiation within the Infrared#Different regions in the infrared range....
  • Renewable energy commercialization
    Renewable energy commercialization

    Renewable energy commercialization involves the Diffusion of innovations of three generations of technologies dating back more than 100 years....
  • Spark spread
    Spark spread

    The spark spread is the theoretical gross income of a gas-fired power plant from selling a unit of electricity, having bought the fuel required to produce this unit of electricity....