An assessment of the Iberian Exception to control electricity prices

Titolo Rivista ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT
Autori/Curatori Pedro Linares, Tomás Gómez San Román
Anno di pubblicazione 2023 Fascicolo 2023/1
Lingua Inglese Numero pagine 12 P. 5-16 Dimensione file 151 KB
DOI 10.3280/EFE2023-001001
Il DOI è il codice a barre della proprietà intellettuale: per saperne di più clicca qui

Qui sotto puoi vedere in anteprima la prima pagina di questo articolo.

Se questo articolo ti interessa, lo puoi acquistare (e scaricare in formato pdf) seguendo le facili indicazioni per acquistare il download credit. Acquista Download Credits per scaricare questo Articolo in formato PDF

Anteprima articolo

FrancoAngeli è membro della Publishers International Linking Association, Inc (PILA)associazione indipendente e non profit per facilitare (attraverso i servizi tecnologici implementati da CrossRef.org) l’accesso degli studiosi ai contenuti digitali nelle pubblicazioni professionali e scientifiche

The Iberian Exception, the mechanism designed by the Spanish and Portuguese governments to address high electricity prices resulting from the gas price crisis in 2021 and 2022, has been met with controversy, both regarding its real impact on electricity prices and also its unin- tended consequences, such as increased (and subsidized) exports to France. In this paper we review the evidence on these impacts from different studies, concluding that the mechanism may have produced, depending on the assumptions, some reductions in electricity prices for Iberian consumers or none at all, but always at the expense of subsidies to French consumers and also increased rents for gas combined cycles, higher gas consumption, and larger CO2 emissions. Alternative mechanisms, such as a temporary single-buyer scheme, might have produced similar benefits without the downsides of the Exception.

Keywords:natural gas, electricity prices, market design.

Jel codes:L51, L94, Q48

  1. Brito, P. (2022). La excepción ibérica a debate: ¿una oportunidad perdida? -- https://ungradoymedio.blogspot.com/. 2 junio.
  2. Chaves, J. P., Cossent, R., Gómez San Román, T., Linares, P., Rivier, M. (2023). An assess- ment of the European electricity market reform options and a pragmatic proposal. Work- ing Paper IIT-23-035WP and EPRG Working Paper 2305.
  3. García Martínez, F., Pacce, M. (2023). El sector eléctrico español ante el alza del precio del gas y las medidas públicas en respuesta a dicha alza. Documentos Ocasionales n. 2316, Banco de España.
  4. Hidalgo, M., Collado, N., Galindo, J., Mateo, R. (2023). Los efectos del tope al gas en los precios, la inflación y el consumo seis meses después. EsadeEcPol Policy Insight, No.43, Esade. DOI: 10.56269/MHP20230131
  5. Labandeira, X., Labeaga, J. M., López, X. (2016). Un meta-análisis sobre la elasticidad-precio de la demanda de energía en España y la Unión Europea. Papeles de Energía n. 2, Diciembre.
  6. Neuhoff, K. (2022). Defining gas price limits and gas saving targets for a large-scale gas supply interruption. EPRG Working Paper 2212, June 2022.
  7. OMIE (2021). Informe anual 2021.
  8. OMIE (2022). Informe anual 2022.
  9. Robinson, D., Arcos-Vargas, A., Tennican, M., Núñez, F. (2023). The Iberian Exception: An overview of its effects over its first 100 days.
  10. Sancha, J. L. (2022). Balance económico de 200 días de aplicación del tope al precio del gas, Cuadernos de Energía, no. 71, diciembre.

Pedro Linares, Tomás Gómez San Román, An assessment of the Iberian Exception to control electricity prices in "ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT" 1/2023, pp 5-16, DOI: 10.3280/EFE2023-001001