Economice Assignment Example | Topics and Well Written Essays - 500 words

Economice - Assignment ExampleAlong the European shores there atomic number 18 ten countries that depart sign a pact to start working on an underwater electrical grid to connecter up disparate projects (The Economist, 2010). Norway has hydroelectric stations that fire serve as giant batteries that store zilch. Spain can take advantage of solar and wind renewable energies, while the Sahara desert has the potential to be a productive region for the implementation of solar technology.Europe would benefit tremendously if the producers of heftiness could trade energy over the grid in a single market. The estimated made by European officials established that energy savings of between 20%-25% could be possible. In Europe energy is being generated through two-fold technologies including wind, sun, gas, and nuclear power. The European commission established that the government has to invest nearly $1.4 trillion over the succeeding(a) decade in its energy infrastructure. The fact that utilities are a public monopoly enables this industry to receive governmental assistance. Creating a single energy market in Europe will be difficult cod to the fact that electrical energy and gas networks are treated as natural monopolies.Currently the only countries that are sharing their energy resources are Spain and Portugal. The fragmentation for the gas industry is even worse than the one for electricity in Europe. New regulations such as EUs 20/20/20 which seeks a 20% greenhouse gas, a 20% reduction in energy, and a 20% increase in renewable energy should supporter increase cooperation. Another change in the industry that will help form a single market is the fact that companies must now either sell their diffusion networks or run them as a separate business. A single energy market in Europe would represent the biggest utility monopoly market in the world.OIL and gas are being course from under the North Sea. But its time as Europes energy reservoir is not over. Along it s shores and on its waters, thousands of