Price Convergence in the EU Electricity and Gas Markets


Serttaş F. Ö.

The Growth-Oriented Economic Policy of the EU, Angelo Santagostino,Burçak Müge Vural, Editör, Cambridge Scholars Publishing, Newcastle-Upon-Tyne, ss.1-335, 2020

  • Basım Tarihi: 2020
  • Yayınevi: Cambridge Scholars Publishing
  • Basıldığı Şehir: Newcastle-Upon-Tyne
  • Sayfa Sayıları: ss.1-335
  • Editörler: Angelo Santagostino,Burçak Müge Vural, Editör

Özet

The integration of European energy markets: electricity and gas markets, has been investigated. As of the early 1990s, individual energy markets were mainly dominated by monopolists in Europe. Through some targets and actions, European Commission and the member states have taken steps towards the unification and liberalization of these markets. Since the declaration of the First Energy Package in 1996 for electricity and in 1998 for gas, the legal conditions of the integration process have been outlined and started to be enforced. This study analyzes the convergence of electricity and natural gas prices in Europe with recent data from Eurostat. Although there are differences across markets, it looks like the price differences are becoming smaller. Especially for the non-household or industrial energy consumers, the pay differentials are small and convergence in prices is slightly more. If a comparison between the two energy markets is made, the price convergence in electricity market overall is more than the price convergence in the natural gas market.