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Did the « Pax Electrica » agreements reduce the Suez’ power relationship on Elia, the Belgian electricity grid manager ?

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  • Marc Levy

Abstract

The company Elia, which manages the grid system of electricity in Belgium, is mainly controlled by the principal producer of electricity, Electrabel, and by political powers. The Belgian state has recently constrained the French group to yield 3% of its stake in Elia as foreseen in the Pax Electrica agreements. This article studies the impact of this transfer by means of the Banzhaf index that measures the intensity of control. The results show that theoretically these agreements change the power relationship on the manager of the grid.

Suggested Citation

  • Marc Levy, 2009. "Did the « Pax Electrica » agreements reduce the Suez’ power relationship on Elia, the Belgian electricity grid manager ?," Working Papers CEB 09-035.RS, ULB -- Universite Libre de Bruxelles.
    • Handle: RePEc:sol:wpaper:09-035
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    More about this item

    Keywords

    Ownership and control; Electricity market; Banzhaf index;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L12 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Monopoly; Monopolization Strategies
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities

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