In this paper we show that market integration in the European Union can reduce the cost of electricity. First, through various case studies, we indicate that competition and integration in the different electricity market segments have led to substantial cost savings. Second, we show that...

Since Russia's invasion of Ukraine, wholesale prices for electricity and gas in the European Union have risen five to fifteen-fold, with severe impacts for households and businesses. The crisis is also creating liquidity problems for energy companies, with contagion risks for the financial...

The energy crisis that started in 2022 reminded European governments of the resilience provided by relatively well-integrated European electricity markets. European Union leaders thus decided to reverse a creeping energy renationalisation and to invest in completing the internal market. However,...

Meeting Europe's 2030 climate targets will require massive clean-electricity investment. To facilitate these investments, state-backed de-risking schemes such as contracts for difference (CfDs) are needed. Their role in supporting renewables has been consolidated by the European Union's recently...

This study tests the hypothesis that the ongoing restructuring process in the European electricity sector, as well as market participants' adaptation to the new legal framework, have caused electricity wholesale day-ahead prices to converge towards arbitrage freeness. Using hourly cross-border...

Das Nord-Stream-2-Projekt soll in zusätzlichen Pipelines mehr Energie aus Russland direkt nach Deutschland transportieren, und zwar ohne den Transit durch Polen und durch die Ukraine. Den USA ist dieses Projekt ein Dorn im Auge, und die US-Regierung hat sogar über Sanktionen für europäische...