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Capacity Mechanisms in the EU Energy Market: Law, Policy, and Economics
by Leigh Hancher Adrien De Hauteclocque Malgorzata SadowskaEnsuring an adequate, long-term energy supply is a paramount concern in Europe. EU member states now intervene by encouraging investment in generation capacity, offering an additional revenue stream for conventional power plants in addition to the existing, heavily subsidised investments in renewable energy sources. These capacity remuneration mechanisms (or simply capacity mechanisms) have become a hot topic in the wider European regulatory debate. European electricity markets are increasingly interconnected, so the introduction of a capacity mechanism in one country not only distorts its national market but may have unforeseeable consequences for neighbouring electricity markets. If these mechanisms are adopted by several member states with no supra-national coordination and no consideration for their cross-border impact, they may cause serious market distortions and put the future of the European internal electricity market at risk. This book provides readers with an in-depth analysis of capacity mechanisms, written by an expert team of policy-makers, economists, and legal professionals. It will be a first point of reference for regulators and policy-makers responsible for designing optimal capacity mechanisms in Europe, and will be an invaluable resource for academics and practitioners in the fields of energy, regulation, and competition.
Capacity Mechanisms in the EU Energy Markets: Law, Policy, and Economics
by Leigh Hancher, Adrien De Hauteclocque, Kaisa Huhta and Małgorzata SadowskaCapacity remuneration mechanisms (or simply capacity mechanisms) have become a fact of life in member states' energy markets and are one of the hottest topics in the wider European regulatory debate. Concerned about the security of electricity supply, national governments are implementing subsidy schemes to encourage investment in conventional power generation capacity, alongside already heavily subsidized renewable energy sources. With the increasingly connected European electricity markets, the introduction of a capacity mechanism in one country not only tends to distort its national market but may also have unforeseeable consequences for neighbouring electricity markets. As these mechanisms are adopted by member states with limited supra-national coordination as well as consideration for the cross-border impact, they tend to cause serious market distortions and put the future of the European internal electricity market at risk. This second edition will take stock of how capacity mechanisms have actually worked so far and consider the consequences they have for the European internal electricity market. It will include a detailed overview of national capacity mechanisms, their implications for the EU internal market, and will outline the nature of market failures which are likely to occur in the European electricity markets. This edition is intended to serve as a point of reference for regulators and policy-makers on how to design optimal capacity mechanisms in Europe. It will be an invaluable resource for anyone interested in energy market design, regulation, and competition issues.
Capacity Mechanisms in the EU Energy Markets: Law, Policy, and Economics
Capacity remuneration mechanisms (or simply capacity mechanisms) have become a fact of life in member states' energy markets and are one of the hottest topics in the wider European regulatory debate. Concerned about the security of electricity supply, national governments are implementing subsidy schemes to encourage investment in conventional power generation capacity, alongside already heavily subsidized renewable energy sources. With the increasingly connected European electricity markets, the introduction of a capacity mechanism in one country not only tends to distort its national market but may also have unforeseeable consequences for neighbouring electricity markets. As these mechanisms are adopted by member states with limited supra-national coordination as well as consideration for the cross-border impact, they tend to cause serious market distortions and put the future of the European internal electricity market at risk. This second edition will take stock of how capacity mechanisms have actually worked so far and consider the consequences they have for the European internal electricity market. It will include a detailed overview of national capacity mechanisms, their implications for the EU internal market, and will outline the nature of market failures which are likely to occur in the European electricity markets. This edition is intended to serve as a point of reference for regulators and policy-makers on how to design optimal capacity mechanisms in Europe. It will be an invaluable resource for anyone interested in energy market design, regulation, and competition issues.
The Capacity of International Organizations to Conclude Treaties, and the Special Legal Aspects of the Treaties so Concluded
by Hungdah ChiuMter an international organization is established, if it is necessary for it to acquire certain rights or assume duties or new functions not provided in its constitution, there are four techniques to achieve that 1 end. The first is to amend the constitution of the organization. If the organization has only a limited number of members, then this technique is not too cumbersome. But, the procedure for amending a constitution is usually complicated and requires a substantial period of time. Thus this technique has at least the disadvantage of delay. 2 The second technique is to conclude a treaty among the member States of the organization. The organization is not a party to that treaty, but it can acquire some rights, assume some duties, or new functions under the treaty. 3 The disadvantage of this technique is similar to the first one, i. e. , the conclusion of a multilateral treaty may mean delay since the procedure involved is so complicated and cumber some. 1 E. g. , the Constitution of the ILO, Cmd. No. 393 (T. S. No. 4 of 1919), [1919] 13 Foreign ReI. U. S. : Paris Conf. 695 (1947), was amended on October 9, 1946,62 Stat. 3485, T. I. A. S. No. 1868, 15 U. N. T. S.
Capacity, Participation and Values in Comparative Legal Perspective
by Camillia Kong, John Coggon, Penny Cooper, Michael Dunn andWith contributions from an international team of experts, this collection provides a much-needed international, comparative approach to mental capacity law. The book focuses particularly on exploring substantive commonalities and divergences in normative orientation and practical application embedded in different legal frameworks. It draws together contributions from eleven different jurisdictions across Europe, Asia and the UK and explores what productive or unproductive values and practices currently exist. By providing a detailed comparison of how legal and ethical commitments to persons with disabilities are framed in capacity law across different national systems, the book highlights the values and practices that could lead to changes that better respect persons with disabilities in mental capacity regimes.
Capacity, Participation and Values in Comparative Legal Perspective
by Camillia Kong John Coggon Penny Cooper Michael Dunn Alex Ruck KeeneWith contributions from an international team of experts, this collection provides a much-needed international, comparative approach to mental capacity law. The book focuses particularly on exploring substantive commonalities and divergences in normative orientation and practical application embedded in different legal frameworks. It draws together contributions from eleven different jurisdictions across Europe, Asia and the UK and explores what productive or unproductive values and practices currently exist. By providing a detailed comparison of how legal and ethical commitments to persons with disabilities are framed in capacity law across different national systems, the book highlights the values and practices that could lead to changes that better respect persons with disabilities in mental capacity regimes.
Capacity Withdrawals in the Electricity Wholesale Market: Between Competition Law and Regulation (Munich Studies on Innovation and Competition #7)
by Panagiotis TsangarisThis book examines the issue of capacity withdrawals in the electricity wholesale market. Electricity generators can exercise market power in the wholesale market either by withdrawing generation capacity, or by pricing above competitive levels in order to achieve a higher market price and, thereby, increase revenues. After a comprehensive explanation of capacity withdrawal practices and the issues that arise when proceeding under competition law, the book analyses whether an increased state of transparency, as provided for in the REMIT and Regulation 543/2013, could facilitate the efficient functioning of electricity wholesale markets and the investigation of capacity withdrawal practices. It also examines the effect of the prohibition of market manipulation as prescribed in the REMIT in dealing with abusive capacity withdrawals in the electricity wholesale market.
The Cape Town Convention: A Documentary History (Hart Studies in Commercial and Financial Law)
by Anton DidenkoThis book is the first detailed and comprehensive research of the history of the Cape Town Convention and its protocols. It critically engages with the challenges faced by the developers of this treaty, analyses thousands of pages of archived materials and derives important lessons for the development of transnational commercial law globally. The book is an invaluable addition to the existing literature on the Cape Town Convention. It also informs the debate about harmonisation of secured transactions regimes generally, and as such will be of interest to academics, legal practitioners and the judiciary involved in secured transactions law around the world. Practising lawyers will better understand the rationale behind the key provisions of the Cape Town Convention, while the treaty-making lessons will assist governmental officials, representatives of international organisations and legal advisors engaged in harmonisation of commercial law.The text covers all four protocols to the Cape Town Convention, including the MAC Protocol adopted on 22 November 2019 in Pretoria.
The Cape Town Convention: A Documentary History (Hart Studies in Commercial and Financial Law)
by Anton DidenkoThis book is the first detailed and comprehensive research of the history of the Cape Town Convention and its protocols. It critically engages with the challenges faced by the developers of this treaty, analyses thousands of pages of archived materials and derives important lessons for the development of transnational commercial law globally. The book is an invaluable addition to the existing literature on the Cape Town Convention. It also informs the debate about harmonisation of secured transactions regimes generally, and as such will be of interest to academics, legal practitioners and the judiciary involved in secured transactions law around the world. Practising lawyers will better understand the rationale behind the key provisions of the Cape Town Convention, while the treaty-making lessons will assist governmental officials, representatives of international organisations and legal advisors engaged in harmonisation of commercial law.The text covers all four protocols to the Cape Town Convention, including the MAC Protocol adopted on 22 November 2019 in Pretoria.
Capital and Capitalism: Old Myths, New Futures (Routledge Frontiers of Political Economy)
by Rogene A. BuchholzCapitalist societies need to undergo major change to provide for the material needs of all the people who work within the system, not just the 1 percent. They have become dysfunctional and need a different kind of orientation to continue in existence. Instead of creating wealth, which is what they are supposed to accomplish, they have created nothing but debt for the past several decades and are now in serious trouble with regard to finding the wherewithal to keep on functioning as viable societies that can provide job opportunities for their workers and the promise of a better life in the future for their citizens. The coronavirus pandemic has exposed just how many people live paycheck to paycheck and have not been able to accumulate any kind of savings. The 1 percent, meanwhile, have benefited greatly and have vastly increased their wealth over the past several decades. This book does not advocate the need to turn to a form of socialism, however, to give most workers a chance at a decent life for themselves. What is needed is a redefinition of capitalism to make it work for everyone. Capital and Capitalism seeks to uncover various myths about capitalism that hinder our ability to change the system and discuss the task of redefining capitalism by examining where neo-liberalism went wrong and what role restructuring the corporation along stakeholder lines can play in making capitalism more responsive to the entire society.It will be of interest to researchers, academics, and students in the fields of business and society, leadership, and business ethics.
Capital and Capitalism: Old Myths, New Futures (Routledge Frontiers of Political Economy)
by Rogene A. BuchholzCapitalist societies need to undergo major change to provide for the material needs of all the people who work within the system, not just the 1 percent. They have become dysfunctional and need a different kind of orientation to continue in existence. Instead of creating wealth, which is what they are supposed to accomplish, they have created nothing but debt for the past several decades and are now in serious trouble with regard to finding the wherewithal to keep on functioning as viable societies that can provide job opportunities for their workers and the promise of a better life in the future for their citizens. The coronavirus pandemic has exposed just how many people live paycheck to paycheck and have not been able to accumulate any kind of savings. The 1 percent, meanwhile, have benefited greatly and have vastly increased their wealth over the past several decades. This book does not advocate the need to turn to a form of socialism, however, to give most workers a chance at a decent life for themselves. What is needed is a redefinition of capitalism to make it work for everyone. Capital and Capitalism seeks to uncover various myths about capitalism that hinder our ability to change the system and discuss the task of redefining capitalism by examining where neo-liberalism went wrong and what role restructuring the corporation along stakeholder lines can play in making capitalism more responsive to the entire society.It will be of interest to researchers, academics, and students in the fields of business and society, leadership, and business ethics.
Capital and Liquidity Requirements for European Banks (Oxford EU Financial Regulation)
by Bart P.M. Joosen, Marco Lamandini, Tobias TrögerPart of the Oxford EU Financial Regulation Series, this book analyses the harmonised legislative framework for capital adequacy and liquidity supervision in the Single Rule Book for European banks. It brings together leading experts in the field of prudential banking regulation and accounting to provide an in-depth analysis of the regulatory framework. Capital and Liquidity Requirements for EU Banks goes far beyond the existing rules and standards, not only by looking into the historical realisation of the European Single Rule Book (SRB) for capital adequacy and liquidity supervision, but also by going deeply into the background of the standards put forward by the Basel Committee for Banking Supervision, the global rule-maker for the financial sector. The insights provided into the historical and normative background are essential in order to facilitate a more constructive interpretation of the extensive rules of the SRB The book also delivers a deeper understanding of the various policy choices that Europe has made in the transposition of the Basel standards. An important reference source for all legal practitioners and scholars researching European financial regulation, this new volume provides an extensive representation of the key topics, affording the reader unique insights into the interrelation and the interplay of the various prudential rules and standards in Europe.
Capital and Liquidity Requirements for European Banks (Oxford EU Financial Regulation)
Part of the Oxford EU Financial Regulation Series, this book analyses the harmonised legislative framework for capital adequacy and liquidity supervision in the Single Rule Book for European banks. It brings together leading experts in the field of prudential banking regulation and accounting to provide an in-depth analysis of the regulatory framework. Capital and Liquidity Requirements for EU Banks goes far beyond the existing rules and standards, not only by looking into the historical realisation of the European Single Rule Book (SRB) for capital adequacy and liquidity supervision, but also by going deeply into the background of the standards put forward by the Basel Committee for Banking Supervision, the global rule-maker for the financial sector. The insights provided into the historical and normative background are essential in order to facilitate a more constructive interpretation of the extensive rules of the SRB The book also delivers a deeper understanding of the various policy choices that Europe has made in the transposition of the Basel standards. An important reference source for all legal practitioners and scholars researching European financial regulation, this new volume provides an extensive representation of the key topics, affording the reader unique insights into the interrelation and the interplay of the various prudential rules and standards in Europe.
Capital Markets, Derivatives and the Law
by Alan RechtschaffenPresident Obama recently called for a new financial regulation system in the United States. In order to understand the intricacies of new regulation, individuals must have a strong foundation in how capital markets function as well as how financial instruments and derivatives work. Capital Markets, Derivatives, and the Law provides readers with the foundation necessary to make informed, well-reasoned decisions about capital market participation, derivative utilization, and adherence to existing and future regulations. This publication is an essential guide for attorneys and business professionals looking for an accessible resource to better understand the legal and business considerations of capital markets and derivatives transactions. This book offers expert insight into how derivatives work. The author also explores the structures of derivatives as well as how they are regulated and litigated. In the complex world of the current capital market upheaval, this book provides useful definitions, case law examples, and insight into structures, regulation, and litigation strategies.
Capital Markets, Derivatives and the Law
by Alan RechtschaffenPresident Obama recently called for a new financial regulation system in the United States. In order to understand the intricacies of new regulation, individuals must have a strong foundation in how capital markets function as well as how financial instruments and derivatives work. Capital Markets, Derivatives, and the Law provides readers with the foundation necessary to make informed, well-reasoned decisions about capital market participation, derivative utilization, and adherence to existing and future regulations. This publication is an essential guide for attorneys and business professionals looking for an accessible resource to better understand the legal and business considerations of capital markets and derivatives transactions. This book offers expert insight into how derivatives work. The author also explores the structures of derivatives as well as how they are regulated and litigated. In the complex world of the current capital market upheaval, this book provides useful definitions, case law examples, and insight into structures, regulation, and litigation strategies.
Capital Markets, Derivatives and the Law: Evolution After Crisis
by Alan N. RechtschaffenDramatic failures in individual markets and institutions sparked a global financial crisis that resulted in political, social, and economic unrest. In the United States, a host of legislative acts have completely reshaped the regulatory landscape. Capital Markets, Derivatives and the Law: Evolution After Crisis investigates the impact of the financial crisis on capital markets and regulation. With an emphasis on the structure and the workings of financial instruments, it considers market evolution after the crisis and the impact of Central Bank policy. In doing so, it provides the reader with the tools to recognize vulnerabilities in capital market trading activities. This edition serves as an essential guide to better understand the legal and business considerations of capital market participation. With useful definitions, case law examples, and expert insight into structures, regulation, and litigation strategies, Capital Markets, Derivatives and the Law: Evolution After Crisis offers readers invaluable tools to make prudent, well-informed decisions.
Capital Markets, Derivatives, and the Law: Positivity and Preparation
by Alan N. RechtschaffenDramatic failures in individual markets and institutions sparked a global financial crisis that resulted in political, social, and economic unrest. In the United States, a host of legislative acts have completely reshaped the regulatory landscape. Capital Markets, Derivatives and the Law: Positivity and Preparation investigates the impact of the financial crisis on capital markets and regulation. With an emphasis on the structure and the workings of financial instruments, it considers market evolution after the crisis and the impact of Central Bank policy. In doing so, it provides the reader with the tools to recognize vulnerabilities in capital market trading activities. This edition serves as an essential guide to better understand the legal and business considerations of capital market participation. With useful definitions, case law examples, and expert insight into structures, regulation, and litigation strategies, Capital Markets, Derivatives and the Law: Positivity and Preparation offers readers invaluable tools to make prudent, well-informed decisions.
Capital Markets, Derivatives, and the Law: Positivity and Preparation
by Alan N. RechtschaffenDramatic failures in individual markets and institutions sparked a global financial crisis that resulted in political, social, and economic unrest. In the United States, a host of legislative acts have completely reshaped the regulatory landscape. Capital Markets, Derivatives and the Law: Positivity and Preparation investigates the impact of the financial crisis on capital markets and regulation. With an emphasis on the structure and the workings of financial instruments, it considers market evolution after the crisis and the impact of Central Bank policy. In doing so, it provides the reader with the tools to recognize vulnerabilities in capital market trading activities. This edition serves as an essential guide to better understand the legal and business considerations of capital market participation. With useful definitions, case law examples, and expert insight into structures, regulation, and litigation strategies, Capital Markets, Derivatives and the Law: Positivity and Preparation offers readers invaluable tools to make prudent, well-informed decisions.
Capital Markets Union in Europe (Oxford EU Financial Regulation)
by Danny Busch, Emilios Avgouleas and Guido FerrariniCapital Markets Union in Europe analyses the legal and economic implications of the European Commission's plans to form a Capital Markets Union (CMU) in Europe, which will have a major impact on financial markets and institutions both in the region and beyond. A detailed introductory chapter provides a broad overview of the various aspects and challenges of the CMU proposals, whilst thematically grouped chapters cover the following areas: (i) general aspects, (ii) Brexit, (iii) financing innovation, (iv) raising capital on the capital markets, (v) fostering retail and institutional investment, (vi) leveraging banking capacity to support the wider economy, (vii) facilitating cross-border investing, and (viii) comparative aspects of capital market integration. Written by world renowned experts in the fields of banking and capital markets, including respected academics, with broad practical experience, and leading practitioners, Capital Markets Union in Europe provides high-quality analysis of the legal and economic issues in a practical context.
Capital Markets Union in Europe (Oxford EU Financial Regulation)
Capital Markets Union in Europe analyses the legal and economic implications of the European Commission's plans to form a Capital Markets Union (CMU) in Europe, which will have a major impact on financial markets and institutions both in the region and beyond. A detailed introductory chapter provides a broad overview of the various aspects and challenges of the CMU proposals, whilst thematically grouped chapters cover the following areas: (i) general aspects, (ii) Brexit, (iii) financing innovation, (iv) raising capital on the capital markets, (v) fostering retail and institutional investment, (vi) leveraging banking capacity to support the wider economy, (vii) facilitating cross-border investing, and (viii) comparative aspects of capital market integration. Written by world renowned experts in the fields of banking and capital markets, including respected academics, with broad practical experience, and leading practitioners, Capital Markets Union in Europe provides high-quality analysis of the legal and economic issues in a practical context.
Capital Punishment: A Documentary and Reference Guide (Documentary and Reference Guides)
by David L. Jr.Each entry in this essential collection of primary resources on capital punishment features an authoritative introduction and analysis that helps provide crucial context for understanding the evolution of law and public attitudes toward the death penalty in America, from colonial times to the present.Showcasing key primary documents that illuminate the ongoing debate and turbulent history of capital punishment in the United States, this collection gathers a wide range of fascinating and momentous documents, including court decisions and transcripts, legislation, personal accounts and perspectives, congressional testimony, and government documents. Since these documents reflect all political perspectives and messaging, students will gain valuable insight into the evolution of public opinion and government policy on the death penalty in America. To better understand these documents, each primary source is prefaced with an introduction and followed by scholarly analysis. These documents and accompanying analysis complement one another, helping students gain a better and more accurate understanding of the viewpoints, convictions, and perspectives that have shaped American attitudes and practices toward capital punishment since the United States' earliest days.
Capital Punishment: A Documentary and Reference Guide (Documentary and Reference Guides)
by David L. Jr.Each entry in this essential collection of primary resources on capital punishment features an authoritative introduction and analysis that helps provide crucial context for understanding the evolution of law and public attitudes toward the death penalty in America, from colonial times to the present.Showcasing key primary documents that illuminate the ongoing debate and turbulent history of capital punishment in the United States, this collection gathers a wide range of fascinating and momentous documents, including court decisions and transcripts, legislation, personal accounts and perspectives, congressional testimony, and government documents. Since these documents reflect all political perspectives and messaging, students will gain valuable insight into the evolution of public opinion and government policy on the death penalty in America. To better understand these documents, each primary source is prefaced with an introduction and followed by scholarly analysis. These documents and accompanying analysis complement one another, helping students gain a better and more accurate understanding of the viewpoints, convictions, and perspectives that have shaped American attitudes and practices toward capital punishment since the United States' earliest days.
Capital Punishment: A Reference Handbook (Contemporary World Issues)
by Michael KronenwetterThis revised edition of a perennial bestseller, with more than 50 percent new material, is a much-needed overview of a hotly debated topic.Capital Punishment focuses on the use of the death penalty in the United States, its international status, and how foreign developments affect the country. It includes a history, a discussion of the controversies surrounding the death penalty, updated biographical sketches, and statistics. Key documents include the U.S. Supreme Court decision affirming capital punishment, a key dissent, Charles Dickens' 19th century view of the guillotine, and various papal and European Union decrees. It also includes a chronology, organizations, websites with further information, and an annotated bibliography.In this updated survey, a thorough overview of capital punishment, author Michael Kronenwetter reveals interesting facts, for example, under Roman law, death was the penalty for publishing "insulting songs" and disturbing the city's peace.
Capital Punishment (Historical Guides to Controversial Issues in America)
by Joseph A. Melusky Keith A. PestoThis balanced approach to legal precedent and moral argument regarding the death penalty presents the evidence so readers can reach their own informed conclusions.Capital Punishment examines the debate around the death penalty, raising questions and attempting to provide an even-handed examination of this controversial practice. The authors combine analysis of important issues with excerpts from landmark legal decisions, important documents, survey results, and empirical data. The first part of the book discusses the origins of the death penalty and traces its development from antiquity to contemporary times. Detailed statistical information about capital punishment is presented and discussed, and the death penalty is considered against a constitutional backdrop with various arguments—for and against—articulated. The second part of the book consists of three appendices. The first appendix presents an annotated list of important capital-punishment cases; the second supplies a more general chronological treatment of capital punishment; and the third provides a bibliographic essay directing readers to other relevant sources of interest. A thorough and insightful treatment, Capital Punishment provides both a summary of the current state of capital punishment and a discussion of areas of continuing controversy.
Capital Punishment: A Hazard to a Sustainable Criminal Justice System?
by Lill ScherdinAs most jurisdictions move away from the death penalty, some remain strongly committed to it, while others hold on to it but use it sparingly. This volume seeks to understand why, by examining the death penalty’s relationship to state governance in the past and present. It also examines how international, transnational and national forces intersect in order to understand the possibilities of future death penalty abolition. The chapters cover the USA - the only western democracy that still uses the death penalty - and Asia - the site of some 90 per cent of all executions. Also included are discussions of the death penalty in Islam and its practice in selected Muslim majority countries. There is also a comparative chapter departing from the response to the mass killings in Norway in 2011. Leading experts in law, criminology and human rights combine theory and empirical research to further our understanding of the relationships between ways of governance, the role of leadership and the death penalty practices. This book questions whether the death penalty in and of itself is a hazard to a sustainable development of criminal justice. It is an invaluable resource for all those researching and campaigning for the global abolition of capital punishment.