A comparative study on renewable and traditional electricity: The influence of the European Union framework and the impact of COVID-19
By means of the event study approach, we analyse the effect of COVID-19 on listed European renewable and traditional electricity companies, inside and outside the European Union, for the pandemic announcement and lockdowns. We find that the pandemic negatively affected both subsectors of electricity...
| Main Authors: | , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Public Library of Science (PLoS)
2022-01-01
|
| Series: | PLoS ONE |
| Online Access: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9678253/?tool=EBI |
| _version_ | 1811211432188968960 |
|---|---|
| author | Florin Teodor Boldeanu José Antonio Clemente-Almendros Luis Alberto Seguí-Amortegui Constantin Duguleana |
| author_facet | Florin Teodor Boldeanu José Antonio Clemente-Almendros Luis Alberto Seguí-Amortegui Constantin Duguleana |
| author_sort | Florin Teodor Boldeanu |
| collection | DOAJ |
| description | By means of the event study approach, we analyse the effect of COVID-19 on listed European renewable and traditional electricity companies, inside and outside the European Union, for the pandemic announcement and lockdowns. We find that the pandemic negatively affected both subsectors of electricity production, but the negative effect was more intense for renewable electricity companies, since they represent a riskier investment. Moreover, this negative effect was larger for European electricity companies than for companies from countries that do not belong to the European Union. Our results show the riskier profile of the clean energy industry together with the importance of a stable and supportive regulatory framework to develop and consolidate renewable energy. Our findings have important implications for policymakers. In addition to the intrinsic risks associated with renewable energy, this type of investment poses policy and regulatory risks, which they should take into account when evaluating future energy policies. Policymakers must be aware of the importance of these specific risks, and seek to respond to investors’ expectations about long-term, stable regulations. |
| first_indexed | 2024-04-12T05:12:56Z |
| format | Article |
| id | doaj.art-c14cfd2a106c4ab890420cf09be97441 |
| institution | Directory Open Access Journal |
| issn | 1932-6203 |
| language | English |
| last_indexed | 2024-04-12T05:12:56Z |
| publishDate | 2022-01-01 |
| publisher | Public Library of Science (PLoS) |
| record_format | Article |
| series | PLoS ONE |
| spelling | doaj.art-c14cfd2a106c4ab890420cf09be974412022-12-22T03:46:42ZengPublic Library of Science (PLoS)PLoS ONE1932-62032022-01-011711A comparative study on renewable and traditional electricity: The influence of the European Union framework and the impact of COVID-19Florin Teodor BoldeanuJosé Antonio Clemente-AlmendrosLuis Alberto Seguí-AmorteguiConstantin DuguleanaBy means of the event study approach, we analyse the effect of COVID-19 on listed European renewable and traditional electricity companies, inside and outside the European Union, for the pandemic announcement and lockdowns. We find that the pandemic negatively affected both subsectors of electricity production, but the negative effect was more intense for renewable electricity companies, since they represent a riskier investment. Moreover, this negative effect was larger for European electricity companies than for companies from countries that do not belong to the European Union. Our results show the riskier profile of the clean energy industry together with the importance of a stable and supportive regulatory framework to develop and consolidate renewable energy. Our findings have important implications for policymakers. In addition to the intrinsic risks associated with renewable energy, this type of investment poses policy and regulatory risks, which they should take into account when evaluating future energy policies. Policymakers must be aware of the importance of these specific risks, and seek to respond to investors’ expectations about long-term, stable regulations.https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9678253/?tool=EBI |
| spellingShingle | Florin Teodor Boldeanu José Antonio Clemente-Almendros Luis Alberto Seguí-Amortegui Constantin Duguleana A comparative study on renewable and traditional electricity: The influence of the European Union framework and the impact of COVID-19 PLoS ONE |
| title | A comparative study on renewable and traditional electricity: The influence of the European Union framework and the impact of COVID-19 |
| title_full | A comparative study on renewable and traditional electricity: The influence of the European Union framework and the impact of COVID-19 |
| title_fullStr | A comparative study on renewable and traditional electricity: The influence of the European Union framework and the impact of COVID-19 |
| title_full_unstemmed | A comparative study on renewable and traditional electricity: The influence of the European Union framework and the impact of COVID-19 |
| title_short | A comparative study on renewable and traditional electricity: The influence of the European Union framework and the impact of COVID-19 |
| title_sort | comparative study on renewable and traditional electricity the influence of the european union framework and the impact of covid 19 |
| url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9678253/?tool=EBI |
| work_keys_str_mv | AT florinteodorboldeanu acomparativestudyonrenewableandtraditionalelectricitytheinfluenceoftheeuropeanunionframeworkandtheimpactofcovid19 AT joseantonioclementealmendros acomparativestudyonrenewableandtraditionalelectricitytheinfluenceoftheeuropeanunionframeworkandtheimpactofcovid19 AT luisalbertoseguiamortegui acomparativestudyonrenewableandtraditionalelectricitytheinfluenceoftheeuropeanunionframeworkandtheimpactofcovid19 AT constantinduguleana acomparativestudyonrenewableandtraditionalelectricitytheinfluenceoftheeuropeanunionframeworkandtheimpactofcovid19 AT florinteodorboldeanu comparativestudyonrenewableandtraditionalelectricitytheinfluenceoftheeuropeanunionframeworkandtheimpactofcovid19 AT joseantonioclementealmendros comparativestudyonrenewableandtraditionalelectricitytheinfluenceoftheeuropeanunionframeworkandtheimpactofcovid19 AT luisalbertoseguiamortegui comparativestudyonrenewableandtraditionalelectricitytheinfluenceoftheeuropeanunionframeworkandtheimpactofcovid19 AT constantinduguleana comparativestudyonrenewableandtraditionalelectricitytheinfluenceoftheeuropeanunionframeworkandtheimpactofcovid19 |