Competition and Market Integration – Role of European Power Exchanges

Václav Mrhač

Master's thesis

Abstract:

The main focus of this thesis is to find out degree of market integration in power exchanges in the European Union. Well integrated electricity markets imply existence of single European electricity market and advanced level of liberalization process in this sector. The thesis provides estimates of degree of market integration for six most evolved European power exchanges. Therefore, British, Dutch, French, German, Spanish and Scandinavian power exchanges have been selected during sample period 2004 - 2012. After conducting correlation and convergence analysis, the results have not suggested existence of single European electricity market and prove the effect of liberalization at regional level.

Abstract:

The main focus of this thesis is to find out degree of market integration in power exchanges in the European Union. Well integrated electricity markets imply existence of single European electricity market and advanced level of liberalization process in this sector. The thesis provides estimates of degree of market integration for six most evolved European power exchanges. Therefore, British, Dutch, French, German, Spanish and Scandinavian power exchanges have been selected during sample period 2004 - 2012. After conducting correlation and convergence analysis, the results have not suggested existence of single European electricity market and prove the effect of liberalization at regional level.

Keywords

Energy Policy, Market Integration, Power Exchanges

Keywords

Energy Policy, Market Integration, Power Exchanges

Language used: English

Date on which the thesis was submitted / produced: 23. 8. 2013

Thesis defence

• Date of defence: 13. 1. 2014
• Supervisor: Ingeborg Němcová
• Reader: Marc Jegers

Vysoká škola ekonomická v Praze

Master programme:
Economics of Globalisation and European Integration