Two electricity market crises following the lifting of post-Covid restrictions in 2021 and the natural gas supply interruptions in 2022, challenged the functioning of the EU electricity market and its design. This paper argues that the market design was already ripe for an overhaul as the efficient market paradigm has gradually become an instrument of…
Tag: Energy markets
The Economics of Sustainability: Causes and Consequences of Energy Market Transformation
The paper deals with the economics of sustainability associated with the transformation of energy markets. It emphasizes the interrelations between technical changes and energy markets and how in turn the resulting transformations alter the sustainability of economic systems that are dependent on these markets. It also explores how innovation (or the lack thereof) is intimately…