Did the « Pax Electrica » agreements reduce the Suez’ power relationship on Elia, the Belgian electricity grid manager ?

Marc Levy ()
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Marc Levy: Centre Emile Bernheim, Solvay Brussels School of Economics and Management, Université Libre de Bruxelles, Brussels.

No 09-035.RS, Working Papers CEB from Université Libre de Bruxelles, Solvay Brussels School of Economics and Management, Centre Emile Bernheim (CEB)

Abstract: The company Elia, which manages the grid system of electricity in Belgium, is mainly controlled by the principal producer of electricity, Electrabel, and by political powers. The Belgian state has recently constrained the French group to yield 3% of its stake in Elia as foreseen in the Pax Electrica agreements. This article studies the impact of this transfer by means of the Banzhaf index that measures the intensity of control. The results show that theoretically these agreements change the power relationship on the manager of the grid.

Keywords: Ownership and control; Electricity market; Banzhaf index (search for similar items in EconPapers)
JEL-codes: G32 L12 L22 L94 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cdm and nep-ene
Date: 2009-09

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http://www.solvay.edu/EN/Research/Bernheim/documents/wp09035.pdf First version, 2009 (application/pdf)

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Persistent link: http://EconPapers.repec.org/RePEc:sol:wpaper:09-035

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