The rise in the cost of energy across Europe has put energy markets under considerable stress. CERRE is currently conducting a research project focused on both wholesale and retail European energy markets, with the aim to formulate policy recommendations for the future of market design.
Our latest issue paper entitled ”Retail Energy Markets under Stress – Lessons Learnt for the Future of Market Design”, authored by leading academics Nils-Henrik von der Fehr, Catherine Banet, Chloé Le Coq, Michael Pollitt, and Bert Willems, is the research project’s first publication and focuses on key issues related to retail markets.
The paper aims to address and provide some initial answers to the below research questions:
The authors provide a brief discussion on energy retailing, before presenting four country experiences: France, Norway, the Netherlands and Great Britain. Based on these experiences, the paper subsequently attempts to draw lessons and identify challenges and opportunities for retail markets going forward.
Another short paper on wholesale market design, as well as a long-form analysis and policy recommendations report on both wholesale and retail markets, will be released later in 2022 to complement this initial paper.
Recommended citation: Von der Fehr, N., Banet, C., Le Coq, C., Pollitt, M. and B. Willems (2022) ‘Retail Energy Markets Under Stress’, CERRE, 13 July
Professor Nils-Henrik von der Fehr is Head of the Economics Department at the University of Oslo. In addition to numerous academic positions, Nils-Henrik is a member of the European Energy Institute, and served as a Member of the Dutch Electricity Market Surveillance Committee. His research interests include
microeconomics, industrial economics, regulation and competition policy.
Catherine Banet is a Professor at the University of Oslo, Head of the Department for Energy and Resources Law at the Scandinavian Institute of Maritime Law,
Norway. She is a member of the Advisory Academic Group (AAG) to the International Bar Association (IBA), Section for Energy, Environment and
Natural Resources and Infrastructure Law (SEERIL), and Chair of the Board of the Norwegian Energy Law Association.
Chloé Le Coq is Professor of Economics at the University Paris-Panthéon-Assas, a Research Fellow at the Stockholm School of Economics and a DIW fellow in
Berlin. Her research interests include industrial organisation and behavioural economics, especially topics related to energy markets, anti-trust policy and
social innovation.
Michael Pollitt is Professor of Business Economics at the Judge Business School, University of Cambridge. He is an Assistant Director of the university’s Energy Policy Research Group (EPRG) and a Fellow and Director of Studies in Economics and Management at Sidney Sussex College, Cambridge. Michael is an elected Vice President (for Publications) of the International Association for Energy Economics (IAEE). He is a former external economic advisor to Ofgem.
Professor Bert Willems, a Belgian national, is a CERRE Research Fellow and an Associate Professor of Economics at the University of Tilburg. He is also a
Research Fellow of the CentER for Economic Research, Tilburg University, a Senior Member of Tilburg Law and Economics Center (TILEC), an associate at
Toulouse School of Economics, and a board member of the Benelux Association for Energy Economics (BAEE).
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Avenue Louise, 475 (box 10)
B-1050 Brussels – Belgium
T.: +3222308360
E-mail: info@cerre.eu
BE 0824446055 RPM Bruxelles
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