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What is the impact of the EU Energy Union on electricity prices? Results for selected member states

: Breitschopf, Barbara; Wachsmuth, Jakob


Institute of Electrical and Electronics Engineers -IEEE-; Institute of Electrical and Electronics Engineers -IEEE-, Power & Energy Society -PES-:
EEM 2017, 14th International Conference on the European Energy Market : 6 - 9 June 2017, Dresden, Germany
Piscataway, NJ: IEEE, 2017
ISBN: 978-1-5090-5499-2
ISBN: 978-1-5090-5500-5
6 S.
International Conference on the European Energy Market (EEM) <14, 2017, Dresden>
Fraunhofer ISI ()
renewable energy; market integration; competition; electricity prices; renewable energy levies

This paper analyses how strongly EU energy policies have driven electricity wholesale prices. Especially, it investigates whether the activities of the Energy Union directed to increasing competition in the electricity system, creating an internal market without barriers for electricity flows, supplying sustainable and secure electricity, has led to a decline in electricity prices. Therefore, renewable shares, degree of competition, cross border flows as well as fossil fuel prices and demand for electricity serve as explaining variables in a fixed/random effects model. The results suggest a significant impact of renewable energies, competition and market integration on wholesale electricity prices. Moreover, the analysis displays that increasing RE levies offset the decline in energy supply costs, which results in increasing retail prices.