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Article

The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental Pollution

1
School of Economics, Universidad Nacional de Loja, 11050 Loja, Ecuador
2
European University of the Canary Islands, 38300 La Orotava, Santa Cruz de Tenerife, Spain
3
Business Management and Marketing Department, Faculty of Business Sciences and Tourism, University of Vigo, 32004 Ourense, Spain
*
Author to whom correspondence should be addressed.
Energies 2020, 13(22), 6116; https://doi.org/10.3390/en13226116
Received: 17 October 2020 / Revised: 15 November 2020 / Accepted: 20 November 2020 / Published: 22 November 2020
From an empirical point of view, the liberalization of the internal energy market reduces carbon dioxide emissions, promoting a wider range of renewable energy sources. The aim of this paper is to examine the effect of the liberalization of the internal energy market on CO2 emissions, which was implemented in the European Union in 2011. The research data cover 27 countries of the European Union during the period 2004–2017 and was processed by estimating a two-way effects econometric model. The results suggest that the liberalization of the internal energy market is negatively related to CO2 emissions; the policy was effective in reducing CO2 emissions and, therefore, slowing down climate change. This result is significant at the level of the European Union, and in high-income countries since the year the policy was implemented, being different in the upper-middle-income countries, which begins to be effective after two years, which is due to the economic characteristics of the countries. The public policies to be implemented to reduce carbon dioxide emissions should focus on reducing the barriers imposed on foreign trade, which prevent efficient use of resources and providing financial and operating facilities to renewable energy providers in order to stimulate their production and consumption. View Full-Text
Keywords: CO2 emissions; liberalization; natural gas; electricity; renewable energy CO2 emissions; liberalization; natural gas; electricity; renewable energy
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MDPI and ACS Style

Ponce, P.; Oliveira, C.; Álvarez, V.; del Río-Rama, M.d.l.C. The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental Pollution. Energies 2020, 13, 6116. https://doi.org/10.3390/en13226116

AMA Style

Ponce P, Oliveira C, Álvarez V, del Río-Rama MdlC. The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental Pollution. Energies. 2020; 13(22):6116. https://doi.org/10.3390/en13226116

Chicago/Turabian Style

Ponce, Pablo; Oliveira, Cristiana; Álvarez, Viviana; del Río-Rama, María d.l.C. 2020. "The Liberalization of the Internal Energy Market in the European Union: Evidence of Its Influence on Reducing Environmental Pollution" Energies 13, no. 22: 6116. https://doi.org/10.3390/en13226116

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