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Liberalising European electricity markets: opportunities and risks for a sustainable power sector

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  • Ringel, M.

Abstract

The process of liberalising European electricity markets, encompassing a wide range of restructuring activities, has mainly been spurred by the attempt to increase the economic efficiency of the whole sector. This process might be used to trigger a development towards a sustainable power sector by increasing the use of renewable energy sources and enhancing energy efficiency on the supply and demand side. However, by taking a closer look at the current trends of the European electricity markets, it becomes obvious that the liberalisation not only implies opportunities but also risks for the creation of a sustainable power sector. Many of these risks are due to market distortions and imperfections caused by the delay in creating a fully functional single European market. Thus, in the short-term, the market liberalisation tends to constitute more risks than opportunities without government actions to prevent these risks. In the long run, though, the efficiency gains of the sector and the appearance of new market factors are likely to bring forth the opportunities of liberalisation and actively foster a transformation towards a sustainable electricity sector.

Suggested Citation

  • Ringel, M., 2003. "Liberalising European electricity markets: opportunities and risks for a sustainable power sector," Renewable and Sustainable Energy Reviews, Elsevier, vol. 7(6), pages 485-499, December.
    • Handle: RePEc:eee:rensus:v:7:y:2003:i:6:p:485-499
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    References listed on IDEAS

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    1. Marc Ringel, 2003. "International climate change policy: triggering environmental reforms in the European electricity sector," International Journal of Global Environmental Issues, Inderscience Enterprises Ltd, vol. 3(3), pages 305-323.
    2. Kumkar, Lars, 2002. "The European Electricity Market: Centralization of Regulation or Competition between Regulatory Approaches?," Kiel Discussion Papers 387, Kiel Institute for the World Economy (IfW Kiel).
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    3. Gossling, Stefan & Kunkel, Timo & Schumacher, Kim & Heck, Nadine & Birkemeyer, Johannes & Froese, Jens & Naber, Nils & Schliermann, Elke, 2005. "A target group-specific approach to "green" power retailing: students as consumers of renewable energy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 9(1), pages 69-83, February.
    4. Arnold, Uwe & Yildiz, Özgür, 2015. "Economic risk analysis of decentralized renewable energy infrastructures – A Monte Carlo Simulation approach," Renewable Energy, Elsevier, vol. 77(C), pages 227-239.
    5. Bahçe, Serdal & Taymaz, Erol, 2008. "The impact of electricity market liberalization in Turkey: "Free consumer" and distributional monopoly cases," Energy Economics, Elsevier, vol. 30(4), pages 1603-1624, July.
    6. Pablo Ponce & Cristiana Oliveira & Viviana Álvarez & María de la Cruz del Río-Rama, 2020. "The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental Pollution," Energies, MDPI, vol. 13(22), pages 1-17, November.
    7. Montes, Germán Martínez & Prados Martín, Enrique & Ordóñez García, Javier, 2007. "The current situation of wind energy in Spain," Renewable and Sustainable Energy Reviews, Elsevier, vol. 11(3), pages 467-481, April.
    8. Kuleshov, Dmitry & Viljainen, Satu & Annala, Salla & Gore, Olga, 2012. "Russian electricity sector reform: Challenges to retail competition," Utilities Policy, Elsevier, vol. 23(C), pages 40-49.
    9. Montes, Germán Martínez & del Mar Serrano López, María & del Carmen Rubio Gámez, Maria & Ondina, Antonio Menéndez, 2005. "An overview of renewable energy in Spain. The small hydro-power case," Renewable and Sustainable Energy Reviews, Elsevier, vol. 9(5), pages 521-534, October.
    10. Domanico, Fabio, 2007. "Concentration in the European electricity industry: The internal market as solution?," Energy Policy, Elsevier, vol. 35(10), pages 5064-5076, October.
    11. Montes, German Martinez & Martin, Enrique Prados & Bayo, Javier Alegre & Garcia, Javier Ordoñez, 2011. "The applicability of computer simulation using Monte Carlo techniques in windfarm profitability analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 15(9), pages 4746-4755.
    12. Timma, Lelde & Bazbauers, Gatis & Bariss, Uldis & Blumberga, Andra & Blumberga, Dagnija, 2017. "Energy efficiency policy analysis using socio-technical approach and system dynamics. Case study of lighting in Latvia's households," Energy Policy, Elsevier, vol. 109(C), pages 545-554.

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