https://www.um.edu.mt/library/oar/handle/123456789/28522 Tue, 07 Apr 2026 05:15:42 GMT 2026-04-07T05:15:42Z https://www.um.edu.mt/library/oar/handle/123456789/31400 Title: Unbundling in the telecommunications and the electricity sectors : how far should it go? Authors: Soares, Isabel; Sarmento, Paula Abstract: In this paper we discuss the European regulation policy regarding vertical separation in communications and electricity industries. In the electricity sector the discussion concerns ownership unbundling while in communications the recent regulatory debate is about functional separation. We conclude that for electricity, ownership unbundling seems to be the best option to achieve competition in wholesale markets although there is still some risks concerning investment. Instead, for the communication sector the regulatory options are deeply dependent on the intensity of network competition between operators that combine different technological platforms. Technology also seems to be a key driver for diverse regulatory approaches concerning the unbundling requirement. Sun, 01 Jan 2012 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/31400 2012-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/31399 Title: What’s happening to the European electricity market? Authors: Soares, Isabel; Faina, Andres; Lopez, Jose; Varela-Candamio, Laura Abstract: This paper deals with market power and information issues in the ongoing process of the European Electricity Market. We present a regulatory game played among the key group of utilities, the customers and the regulatory authority. The development of the game allows us to state for a clear commitment to entry freedom reducing the informational strategic advantage of incumbents. As the assumption of such a commitment involves another game, we develop it and we conclude that the liberalisation of entry is also a key factor for credibility and effectiveness of flexible regulation and tariffs reduction as well. Sun, 01 Jan 2012 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/31399 2012-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/31326 Title: The impact of renewable energy sources on economic growth and CO2 emissions : a SVAR approach Authors: Silva, Susana; Soares, Isabel; Pinho, Carlos Abstract: We analyze how an increasing share of Renewable Energy Sources on Electricity generation (RES-E) affects Gross Domestic Product (GDP) and Carbon Dioxide (CO2) emissions using a 3 variable Structural Vector Autoregressive (SVAR) methodology. We used a sample of four countries with different levels of economic development and social and economic structures but a common effort of investment in RES in the last decades. The period considered was 1960 to 2004. The existence of unit roots was tested to infer the stationarity of the variables. Through the impulse response functions (IRF), the SVAR estimation showed that, for all countries in the sample, except for the USA, the increasing RES-E share had economic costs in terms of GDP per capita. There was also an evident decrease of CO2 emissions per capita. The variance decomposition showed that a significant part of the forecast error variance of GDP per capita and a relatively smaller part of the forecast error variance of CO2 per capita were explained by the share of RES-E. Sun, 01 Jan 2012 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/31326 2012-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/31325 Title: Are we following the right path? Assessment of the Portuguese electricity generation on atmospheric emissions Authors: Meireles, Monica; Soares, Isabel; Afonso, Oscar Abstract: This paper examines the Portuguese electricity-supply-sector evolution within the EU-27 and its impact on atmospheric emissions. Using a dataset of SO2, NOx, CO2 and particulates emissions for Portuguese thermoelectricity plants between 1990 and 2008, the performed panel data model shows emissions to be a positive function of fossil fuel combustible use. Nevertheless, these results denote a more “impressive” correlation per GWh generated than in other EU countries. They also indicate that only SO2 emissions are a negative function of liberalization, which may be explained by the market power of the incumbent that does not feel threatened to adopt environmental improvements. Sun, 01 Jan 2012 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/31325 2012-01-01T00:00:00Z