Trends in electricity prices and their relation to the competitiveness and efficiency in EU countries

Abstract

Europe is emerging from a deep financial and economic crisis and it is widely agreed that stronger European industrial competitiveness is vital as a driver for economic growth and job creation. In this regard, while ensuring the achievement of essential climate and environmental objectives, it is now recognised that it is imperative to ensure that EU energy Union is shaped in such a way to guarantee, not only security of supply for all consumers, but also stable and affordable energy prices for European businesses. This article offers the opportunity to analyse, all the crucial and sensitive components of the prices of energy in some UE countries: economic, financial and technological conditions required to develop renewable energy and other domestic energy resources in order to reduce European dependence on thirdcountry suppliers; development of infrastructure and internal as well as cross-border interconnections; overhaul of national practices on energy levies, tax components of energy prices and network costs; moderation of energy demand and increase of energy efficiency.