There is no internal competition in the energy storage industry

Is there competition in the energy sector?

A major issue that arises in many recent studies is that of competition in the energy sector. Until the 1990s, the energy sector (electricity, natural gas, oil) in most of the European Union (EU) countries was vertically integrated and state-owned.

How does competition affect energy prices?

Overall lack of competition in the energy supply market leads to consumers paying a higher price for their energy use. The average energy bill in the UK rose dramatically from 2004 to 2010. With more competition, profit and operations’ costs of energy suppliers are kept as low as possible when considering the average consumer bill ( Platt, 2012 ).

How is innovation in the energy sector different from other sectors?

Innovation in the energy sector is quite different in relation to other sectors of the economy due to market failures, as indivisibility, spillover effects and uncertainty are more noticeable here ( Jamasb and Pollitt, 2015; Costa-Campi et al., 2015 ).

Does China have a state-centered approach to energy security?

China has implemented a state-centered approach towards energy security and massively invested in oil fields and pipelines worldwide ( Zhao, 2008 ). The country's need to diversify has created closer relationships with Central Asia, the Middle East and the oil producing countries of Africa and Latin America ( Kenny, 2010 ).

Why is energy cooperation important in Northeast Asia?

The energy price variations due to China's increasing demand may create power struggles to secure access to energy resources ( Chanlett-Avery, 2008 ). Moreover, energy cooperation in Northeast Asia has become essential for energy supplies and preventing potential conflicts, focusing more on the aspect of public goods (Lee, 2010).

Does production electricity consumption intensity affect sustainable power sector?

The impact of production electricity consumption intensity in thermal power sector surpasses its effect in the sustainable power sector, and the differences between changes in electricity generation intensity in these sectors are mainly due to differences in production electricity consumption intensity with the search for innovation still emerging.