Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/266391 
Year of Publication: 
2019
Citation: 
[Journal:] The Energy Journal [ISSN:] 1944-9089 [Volume:] 40 [Issue:] 01 [Publisher:] International Association for Energy Economics (IAEE) [Place:] Cleveland [Year:] 2019 [Pages:] 97-120
Publisher: 
International Association for Energy Economics (IAEE), Cleveland
Abstract: 
We investigate the impact of competition policy enforcement on the functioning of European energy markets while accounting for sectoral regulation. For this purpose, we compile a novel dataset on the European Commission's (EC) and EU member states' competition policy decisions in energy markets and combine it with firm- and sector-level data. We find that EC merger policy has a positive and robust impact on (i) the level of competition, (ii) investment and (iii) productivity. This impact, however, only shows up in low-regulated sectors. Other competition policy tools - EC state aid control and anti-trust, as well as all member state policy variables - do not have a uniform effect on energy markets. Our findings are consistent with the idea that the EC's merger policy actions have been used to overcome obstacles to a well-functioning EU energy sector and may have contributed to the overall development of gas and electricity markets in Europe.
Subjects: 
Ex-post
evaluation
competition
policy
energy market
Published Version’s DOI: 
Document Type: 
Article
Document Version: 
Accepted Manuscript (Postprint)

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