A Free-Market Environmentalist Enquiry on Spain’s Energy Transition along with Its Recent Increasing Electricity Prices
Journal
International Journal of Environmental Research and Public Health
ISSN
1660-4601
Date Issued
2022
Author(s)
Type
Resource Types::text::journal::journal article
URL Institutional Repository
Abstract
<jats:p>This paper analyzes the Spanish energy transition’s general situation and its increasing electricity prices in recent years from a free-market environmentalist (FME) approach. We hypothesize and argue that high taxes, high government subsidies, and government industrial access restrictions breach private property rights, hindering Spain’s renewable energy (RE) development. Our paper discovers that Spain’s state-interventionist policies have increased the cost of the energy and power industries, leading to electricity prices remaining relatively high before and after the outbreak of the COVID-19 pandemic. After reviewing the literature on the FME approach and Spain’s case, a Box–Jenkins (ARIMA) model is used to clarify the economic performance of the Spanish electricity industry with a proposal for forecasting electricity prices. It is observed that Spain fails the EU and its national goal of providing an affordable energy price as a part of the green energy transition. Finally, free-market environmental solutions and policy reforms are proposed to facilitate Spain’s energy transition.</jats:p>
Subjects
decision making
;
electricity prices
;
energy transition
;
entrepreneurship
;
eu green deal
;
free-market environmentalism
;
public choice
;
public policy
;
renewable energy
;
spain
;
covid-19
;
electricity
;
humans
;
industry
;
pandemics
;
spain
;
spain
;
alternative energy
;
decision making
;
electricity industry
;
energy policy
;
environmentalism
;
policy reform
;
price dynamics
;
article
;
artificial intelligence
;
controlled study
;
coronavirus disease 2019
;
decision making
;
denmark
;
electricity
;
energy conversion
;
energy cost
;
environmental policy
;
environmentalism
;
environmentalist
;
epidemic
;
fiscal policy
;
forecasting
;
free market environmentalism
;
germany
;
pandemic
;
price
;
renewable energy
;
spain
;
united kingdom
;
electricity
;
epidemiology
;
human
;
industry
;
pandemic