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Restructuring the European Energy Market through M&As – An Application of the Model of Economic Dominance


  • Wassim Benhassine

    () (University of Panthéon-Sorbonne)


In 1998, the European Commission decided to deregulate the national electricity sector with the objective of creating a single energy market. This deregulation involved an important increase in M&As (Mergers & Acquisitions), leading to a large reorganization of the European electricity industry. Using the theory of economic dominance developed by R. Lantner in 1974 - a theory inspired by the graph theory - this article aims at gaining an insight into the M&A strategies of electricity firms in Europe between 1998 and 2003, and the way in which these strategies affected the industry at the European level. We found that European electricity firms increasingly used strategies of M&A to strengthen their economic dominance.

Suggested Citation

  • Wassim Benhassine, 2009. "Restructuring the European Energy Market through M&As – An Application of the Model of Economic Dominance," Frontiers in Finance and Economics, SKEMA Business School, vol. 6(2), pages 140-180, October.
  • Handle: RePEc:ffe:journl:v:6:y:2009:i:2:p:140-180

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    Electricity industry; mergers; graph theory;

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods


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