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Title: An assessment of the impact of electricity market regulatory reforms in the electricity prices in Greece
Advisor: Ιωαννίδης, Δημήτριος, Καθηγητής
Keywords: electricity market, regulatory reforms, electricity prices, panel data analysis, retail access, unbundling, wholesale market, Hausman test;αγορά ηλεκτρικής ενέργειας, κανονιστικές μεταρρυθμίσεις, τιμές ηλεκτρικής ενέργειας, ανάλυση διαστρωματικών δεδομένων, πρόσβαση σε παρόχους λιανικής, διαχωρισμός, χονδρεμπορική αγορά, Hausman τεστ
Issue Date: 5-Sep-2015
Abstract: The purpose of this dissertation is to examine the effect of regulatory reforms in the sector of Electricity Supply Industry (ESI) on twenty European Union - OECD countries for the time interval between 1998 and 2011. In particular we use panel data for several regulatory reform variables, as well as other variables not directly related to regulatory reforms but primarily connected to county specific characteristics. Following the methodology of Hattori & Tsutsui (2004) we formulate regression equations to analyze the impact of regulatory reform on the level of industrial electricity price and the ratio of the industrial price to the household price. At the first part we start by considering the different functions that make up electricity delivered to the consumer. We describe the characteristics and the special properties of electricity as a commodity. We present the driving forces behind the reforms as well as the benefits and the costs of the reform. We continue by defining the key areas of reform and explaining the linkages of the special features of each key area and the implications to the reform process. At the second part we present, in a consecutive mode, the three European Union Directives issued from 1996 up to 2009 through which European Union struggles to establish a common internal electricity market. We examine the ex-ante needs which cause the issuance of the directives, the intention of the European legislator and assess the effects of each one of the regulation initiatives to the performance of the European ESI. At the final part, we present the data sources, we explain the purpose and characteristics of each one of the independent and dependent variables, discuss the analysis methodology, the econometric model and evaluate the obtained results.
Appears in Collections:MBA Διπλωματικές Εργασίες

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