Electricity Markets during the Liberalization: The Case of a European Union Country

Bojnec, Štefan; Križaj, Alan

doi:10.3390/en14144317

Cited by 20 publications

(10 citation statements)

References 133 publications

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“…Additionally, estimates are given that electricity will be responsible for more than half of the EU's energy needs by 2050, with RES and nuclear energy expected to account for 80% of the electricity generated in the EU. A discussion of the factors affecting electricity is given in Reference [23].…”

Section: Renewable Energy Sources In Literature and Eu Directivesmentioning

confidence: 99%

Changes in Electricity Production from Renewable Energy Sources in the European Union Countries in 2005–2019

Matuszewska‐Janica

Żebrowska‐Suchodolska

Ala-Karvia

et al. 2021

Energies

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The policy related to the use of renewable sources is a key element of the energy policy executed in the European Union (EU). One of the targets set for 2050 is to increase the share of electricity in energy consumption to 50%, and 80% of electricity is to be generated from low-carbon sources. In recent years, the EU economies have significantly modified their electricity production, which raises the question of the scale of these changes. The aim of the presented analysis is to assess changes in the use of renewable sources for electricity production in the EU countries in 2005–2019. Gini coefficient and k-mean are applied in the analysis. The conducted research shows that EU countries, in line with the energy policy assumptions, have both increased the share of renewable sources in energy production, especially in electricity production, as well as increased the diversity of used renewable sources. The results also indicate a vast diversity in terms of the use of such sources for the production of renewable electricity in the EU. This indicates that the energy transition is being implemented by EU countries with individual country-level approaches. Nonetheless, a variety of the EU’s both support and restrictive measures are of considerable importance for the ongoing energy transition.

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Section: Renewable Energy Sources In Literature and Eu Directivesmentioning

confidence: 99%

Changes in Electricity Production from Renewable Energy Sources in the European Union Countries in 2005–2019

Matuszewska‐Janica

Żebrowska‐Suchodolska

Ala-Karvia

et al. 2021

Energies

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“…The liberalization and deregulation of the electricity markets have promised to unleash the entrepreneurial potential of the power industry sector, with competitive advantages that should foster the lowest possible retail electricity prices (Bojnec and Križaj, 2021). Despite the sizeable progress in transparency and openness, the electricity market’s uniqueness, complexity and multitude of dependencies introduce a set of ever-changing conditions and targets, which in turn have consistently led to a refinement of its predicates.…”

Section: Discussionmentioning

confidence: 99%

Soaring electricity prices in the day-ahead Iberian market: policy insights, regulatory challenges and lack of system flexibility

Bento

Mariano

Carvalho³

et al. 2023

IJESM

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Purpose This study is a targeted review of some of the major changes in European regulation that guided energy policy decisions in the Iberian Peninsula and how they may have aggravated the problem of lack of flexibility. This study aims to assess some of the proposed short-term solutions to address this issue considering the underlying root causes and suggests a different course of action, that in turn, could help alleviate future market strains. Design/methodology/approach The evolution of the most important (macro) energy and price-related variables in both Portugal and Spain is assessed using market and grid operator data. In addition, the authors present critical viewpoints on some of the most recent EU and national regulation changes (official document analysis). Findings The Iberian energy policy and regulatory agenda has successfully promoted a rapid adoption of renewables (main goal), although with insufficient diversification of generation technologies. The compulsory closings of thermal plants and an increased tax (mainly carbon) added pressure toward more environmentally friendly thermal power plants. However, inevitably, this curbed the bidding price competitiveness of these producers in an already challenging market framework. Moving forward, decisions must be based on “a bigger picture” that does not neglect system flexibility and security of supply and understands the specificities of the Iberian market and its generation portfolio. Originality/value This work provides an original account of unprecedented spikes in energy prices in 2021, specifically in the Iberian electricity market. This acute situation worries consumers, industry and governments. Underlining the instability of the market prices, for the first time, this study discusses how some of the most important regulatory changes, and their perception and absorption by involved parties, contributed to the current environment. In addition, this study stresses that if flexibility is overlooked, the overall purpose of having an affordable and reliable system is at risk.

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“…Customized policymaking for every income level subpanel is suggested to ensure sustainable economic development in the energy, including the electricity sector during the rapid growth of electricity consumption in the era of the electricity markets liberalization [71]. Therefore, it is crucial to assure transparency in FDIs, including regarding the protection of the environment.…”

Section: Discussionmentioning

confidence: 99%

Testing the Pollution Haven Hypothesis with the Role of Foreign Direct Investments and Total Energy Consumption

et al. 2022

Self Cite

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The main objective of this study was to examine the nonlinear relationship between environmental deterioration and foreign direct investment for subpanels based on the country’s income level. In this study, the model’s determinants were total consumption of energy and electricity consumption, the share of renewable energy, and economic growth. Due to the observation of cross-sectional dependence, utilization of cointegration tests and panel data unit root were incorporated, which confirmed a mixed integration order. For the compliance of long-run and short-run relationships among the variables, a pooled mean group estimator panel auto-regressive distributed lag approach was incorporated. The results of long-run development support the pollution haven hypothesis; hence, ecological footprint is increased by the activities related to foreign direct investments. The obtained findings depend on the different subpanels based on the income level of countries. For the assurance of economic development sustainability in the energy sector, along with the electrical energy sector, customized policymaking is suggested by this study based on the particulars of each subpanel.

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Electricity Markets during the Liberalization: The Case of a European Union Country

Cited by 20 publications

References 133 publications

Changes in Electricity Production from Renewable Energy Sources in the European Union Countries in 2005–2019

Changes in Electricity Production from Renewable Energy Sources in the European Union Countries in 2005–2019

Soaring electricity prices in the day-ahead Iberian market: policy insights, regulatory challenges and lack of system flexibility

Testing the Pollution Haven Hypothesis with the Role of Foreign Direct Investments and Total Energy Consumption

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