Does the Impact Assessment on the 'Third Package' Provide the Correct Economic Forecast for the Liberalisation of the EU Energy Markets?

EUI Working Paper No. RSCAS 2008/14

21 Pages Posted: 19 Mar 2009

See all articles by Jacopo Torriti

Jacopo Torriti

University of Surrey - Centre for Environmental Strategy

Date Written: May 2008

Abstract

The EU proposal on liberalisation of the energy markets has been widely debated in policy, stakeholder and academic circles both for its content and the potential consequences to the gas and electricity markets. However, little has been said about the empirical evidence produced by the European Commission to support this legislative package. Since the Impact Assessment system has been in place, there have been concerns regarding quality and adequateness, especially when quantifying costs, benefits and risks. This paper analyses how these crucial issues were factored into the Impact Assessment on the third legislative package. It investigates the interaction between the legislative proposals on energy liberalisation and its Impact Assessment.

Keywords: Better regulation, cost-benefit analysis, Impact Assessment, energy markets, risk analysis

JEL Classification: D61, L98, Q48

Suggested Citation

Torriti, Jacopo, Does the Impact Assessment on the 'Third Package' Provide the Correct Economic Forecast for the Liberalisation of the EU Energy Markets? (May 2008). EUI Working Paper No. RSCAS 2008/14, Available at SSRN: https://ssrn.com/abstract=1363781 or http://dx.doi.org/10.2139/ssrn.1363781

Jacopo Torriti (Contact Author)

University of Surrey - Centre for Environmental Strategy ( email )

University of Surrey
Guildford, GU2 7XH
United Kingdom

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