The role of electricity price in competitiveness of the manufacturing industry in liberalised electricity markets: the case of NordPool
Date
2016-11-29
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Abstract
Nii konkurentsivõimet – ettevõtte, tööstusharu kui ka riigi tasandil – kui ka elektri hinnastamist ja elektriturgude liberaliseerimist on põhjalikult uuritud. Antud dissertatsioonis uuritakse elektri hinna muutuse mõju elektri-intensiivsete tööstuste konkurentsivõimele liberaliseeritud turgude kontekstis. Reguleeritud turgudel kontrollib riik kõiki elektrihinna komponente – riiklikult reguleeritakse nii tootmishinda, võrgutasusid kui ka makse. Liberaliseeritud turgudel kujuneb tootmishind turul nõudluse ja pakkumise tulemusena. Võrgutasusid reguleeritakse ka liberaliseeritud turgudel, kuid nende hinnastamine on läbipaistvam, sest võrguettevõtjad on tootjatest lahutatud. Seega muutub liberaliseeritud turgudel elektri tarbimise maksustamine riigi kõige olulisemaks energiapoliitika-tööriistaks. Töös näidatakse, et turgude liberaliseerimise ja üksteisega ühendamise tulemusel on elektri tootmishinnad naaberriikides ühtlustunud, samas on elektri tarbimise maksustamine riigiti endiselt erinev. Nii Põhja- kui Baltimaades on ajalooliselt kujunenud elektri-intensiivsed tööstused, mille osatähtsus nende riikide tööstustoodangus, töötleva tööstuse ekspordis, tööhõives jne ulatub 20-40%-ni. Põhjamaades maksustatakse elektri-intensiivsete tööstusharude elektritarbimist erinevalt, samas kui Baltimaades erisusi pole. Hiljutise turgude liberaliseerimisega kaasnenud tootmishindade tõus Baltimaades on samaaegselt toonud kaasa ka võrgutasude ja maksude mitmekordse tõusu, mis on vähendanud Baltimaade elektri-intensiivsete tööstuste konkurentsivõimet Põhjamaade ees. Tõusvad elektrihinnad soodustavad küll efektiivsuse kasvu, kuid elektri-intensiivsemates tööstusharudes on see tootmistehnoloogia või varasemate põhivarainvesteeringute tõttu piiratud. Baltimaad on Põhjamaadest vähem elektri-intensiivsemate majandustega, mistõttu on elektrihinna hüppeline tõus sealseid ettevõtjad mõjutanud vähem. Samas näitab Põhjamaade kogemus, et riiklikud energiapoliitikad ei tohiks tekitada äkilisi muudatusi – uusi makse tuleks lisada/tõsta aegamisi, samuti tuleb regulaarselt üle vaadata subsiidiumid.
There is ample research in firm, industry and country level competitiveness, as well as electricity pricing and liberalisation of electricity markets. This dissertation analyses how price of electricity impacts competitiveness of electricity-intensive industries in liberalised electricity markets. In regulated markets governments control all electricity price components – price of supply, grid fees and taxes. In liberalised electricity markets price of supply is determined by actual demand and supply at any given point of time. Grid fees remain regulated, but with increased transparency as production and distribution are separated. Hence, taxation of electricity becomes the most important energy policy tool for governments. In this dissertation, it is shown how liberalisation of electricity markets and inter-connectivity to neighbouring countries has led to electricity supply price convergence, yet taxation remains different across countries. For historic reasons, both Nordic and Baltic countries host several electricity-intensive industries, which have a significant role in their respective countries’ economies: employment, production value and exports make up 20-40% of industry total. Nordic governments impose differentiated taxation to their electricity-intensive industries, whereas Baltic governments do not. In addition to increased supply prices, Baltic electricity-intensive industries have also witnessed growth of grid fees and taxes – which has decreased their competitiveness vis-à-vis their Nordic counterparts. Rising electricity prices encourage efficiency measures, but this effect is limited in several electricity-intensive industries owing to production technology or sunk costs. Lower electricity-intensity levels in the Baltics mean that these industries have been less affected by high price increases. Yet the Nordic experience indicates that any changes in energy policy should lead to gradual changes in taxation; likewise it is important to regularly review any subsidies.
There is ample research in firm, industry and country level competitiveness, as well as electricity pricing and liberalisation of electricity markets. This dissertation analyses how price of electricity impacts competitiveness of electricity-intensive industries in liberalised electricity markets. In regulated markets governments control all electricity price components – price of supply, grid fees and taxes. In liberalised electricity markets price of supply is determined by actual demand and supply at any given point of time. Grid fees remain regulated, but with increased transparency as production and distribution are separated. Hence, taxation of electricity becomes the most important energy policy tool for governments. In this dissertation, it is shown how liberalisation of electricity markets and inter-connectivity to neighbouring countries has led to electricity supply price convergence, yet taxation remains different across countries. For historic reasons, both Nordic and Baltic countries host several electricity-intensive industries, which have a significant role in their respective countries’ economies: employment, production value and exports make up 20-40% of industry total. Nordic governments impose differentiated taxation to their electricity-intensive industries, whereas Baltic governments do not. In addition to increased supply prices, Baltic electricity-intensive industries have also witnessed growth of grid fees and taxes – which has decreased their competitiveness vis-à-vis their Nordic counterparts. Rising electricity prices encourage efficiency measures, but this effect is limited in several electricity-intensive industries owing to production technology or sunk costs. Lower electricity-intensity levels in the Baltics mean that these industries have been less affected by high price increases. Yet the Nordic experience indicates that any changes in energy policy should lead to gradual changes in taxation; likewise it is important to regularly review any subsidies.