Ten years after the liberalization of the electricity and gas market in Italy it is possible to draw an evaluation of the achievements. The three key objectives of the single market mentioned in the original proposal of the European Commission have been achieved differently in the power market...

The EU climate and energy policy for 2020 is summed up by three goals called 20-20-20: a) reduce GHG emissions by 20% compared to 1990; b) save 20% of the EU’s energy consumption compared to projections for 2020; c) develop a 20% share of renewable energies in overall EU energy consumption by 2020. In...

Cross-border transmission capacities in Europe have been traditionally allocated via explicit auctions. As these will be replaced by implicit auctions, a relevant question regards the impact of this major transition on expected gains in social welfare. In this paper we study, first, the...