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On the Coupling of the European Day-Ahead Power Markets: A Convergence Analysis

In: Handbook of Smart Energy Systems

Author

Listed:
  • Marios Tsioufis

    (University of Peloponnese)

  • Thomas A. Alexopoulos

    (University of Peloponnese
    International Centre for Economic Analysis)

Abstract

Electricity markets are constantly evolving in several countries, at least in the last three decades, with Western countries leading the way. In Europe, this development happened at a different pace for all its member states, resulting in different operating frameworks and convergence issues in a single market. The European directives have helped in this direction, especially after 2000. Nevertheless, due to the technical characteristics of the electricity market and its forced dependence on the rest of the energy markets, the question of the effectiveness of these measures is raised. Given these, this chapter analyzes the current situation in the EU countries, exploiting the increased pressure for demand that appeared mainly in the second half of 2021, due to the post-Covid activity, and examines the behavior of electricity markets, in clubs of countries, in terms of convergence. The results show that the operating framework is not strong enough to cope with strong pressures, and additional improvements are needed.

Suggested Citation

  • Marios Tsioufis & Thomas A. Alexopoulos, 2023. "On the Coupling of the European Day-Ahead Power Markets: A Convergence Analysis," Springer Books, in: Michel Fathi & Enrico Zio & Panos M. Pardalos (ed.), Handbook of Smart Energy Systems, pages 307-325, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-97940-9_154
    DOI: 10.1007/978-3-030-97940-9_154
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