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Gabriel Di Bella and Selim Thaci
Since the start of the war in Ukraine, electricity prices in Europe have increased and become more volatile. This coupled with unreliable domestic electricity supply has led to significant stress for Kosovo’s energy sector and budget. This paper presents several scenarios characterized by alternative assumptions for European electricity prices and domestic electricity production in 2023 in order to gauge their potential impact on the budget and the economy. It also discusses the medium-term benefits, including in terms of increased energy security and reduced emissions and pollution, of diversifying domestic electricity generation away from lignite.
International Monetary Fund. Asia and Pacific Dept

China’s power industry was built to support rapidly growing demand. As China’s economy matures and climate goals become priorities, the power sector has to adjust. Among the challenges are a lack of price responsiveness to demand and supply shocks, difficulty in integrating non-fossil fuels, and underdeveloped ancillary services markets that are needed to ensure flexible power production and storage capacity. Successful market reforms will require letting power prices fluctuate more freely based on market conditions, strengthening inter-provincial power trading and coordination of local power markets, and scaling up of ancillary services. If done successfully, market reforms will not only improve the efficiency in power generation but also ease the tradeoffs between climate goals and energy security.

International Monetary Fund. Middle East and Central Asia Dept.

This chapter examines the fiscal burden stemming from the challenges of Iraq’s electricity sector and discusses elements of a potential reform strategy to help the sector provide adequate supply while moving closer to cost recovery.