Electricity prices and public ownership: Evidence from the EU15 over thirty years

Fiorio, Carlo V.; Florio, Massimo

doi:10.1016/j.eneco.2013.05.005

Cited by 61 publications

(45 citation statements)

References 23 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Other papers that assess the impact of restructuring while controlling for potential endogeneity include Gugler et al (2013), Fiorio and Florio (2013) and Growitsch and Stronzik (2014). Gugler et al (2013) look at the impact of market reform on investment in 16 EU countries from 1990 to 2010.…”

Section: Related Literaturementioning

confidence: 99%

“…They conclude that, broadly speaking, restructuring measures that directly affect the market (such as the introduction of a wholesale-power pool) increase investment, while measures that affect the incumbent directly (such as ownership unbundling) decrease investment. Fiorio and Florio (2013) also look at restructuring for a subset of European countries (the EU-15). Using a longer time series they look at the evolution of electricity prices from 1978 and investigate how they have been affected by energy-market liberalisation generally and ownership structure specifically.…”

Section: Related Literaturementioning

confidence: 99%

“…As these variables are expressed as logs, the coefficients can be interpreted as elasticities; a one percent increase in real per capita GDP increases the price of electricity to industrial users by 0.44 percent. A positive association between GDP and household electricity price is estimated by Fiorio and Florio (2013), while Nagayama (2009) estimates a positive relationship between per capita GDP and industrial electricity prices. I control for the price of gas as a proxy for generation costs; in their study of electricity markets in the US, Swadley and Yücel (2011) find that the price of coal and gas have a significant impact on electricity prices.…”

Section: Static Panel Analysismentioning

confidence: 99%

“…16 Fiorio and Florio (2013) generally find that electricity prices have a significant, negative relationship with electricity imports 17 The effect of imports on the final price of electricity could also be capturing the degree of market isolation as market power, and thus the price of electricity, is likely to be higher in a more isolated market (as indicated by lower imports). However when I check the effect of overall electricity trade (imports plus exports relative to electricity…”

Section: Static Panel Analysismentioning

confidence: 99%

“…A conceptual framework for assessing the impacts of reform is provided by Fiorio and Florio (2013). They note that, while private ownership may decrease inefficiencies and costs, this will not result in lower prices in the absence of regulation due to the inelastic nature of electricity demand.…”

Section: Introductionmentioning

confidence: 99%

See 4 more Smart Citations

Restructuring European electricity markets – A panel data analysis

Hyland

2016

Utilities Policy

View full text Add to dashboard Cite

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may www.econstor.eu Restructuring European Electricity Markets -A Panel Data AnalysisMarie Hyland* Abstract: This paper looks at the restructuring of European electricity markets that has been taking place since the 1990s. This liberalisation process, driven largely by EU legislation aiming to create a single market for electricity, has led to significant changes in how electricity markets in member states operate. In this paper I estimate the impact of the restructuring process on electricity prices for industrial consumers. Much of the literature to date estimating the impacts of electricity market restructuring fails to take into account the potential endogeneity of the reform process. By using dynamic panel-data techniques, I aim to overcome this shortcoming. I find that once the potential endogeneity of reforms is accounted for, restructuring has, as of yet, had no statistically significant impact on electricity prices. This research highlights the importance of accounting for dynamics and endogeneity before drawing inferences about the results of EU electricity-market reform.

show abstract