Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
Please note that all times are shown in the time zone of the conference. The current conference time is: 7th Sept 2026, 02:26:29pm WEST
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Daily Overview |
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Plenary Session 3 - Natalia Fabra (Streaming)
Energy Crises, Policy Responses, and Distributional Effect | ||
| Session Abstract | ||
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Energy Crises, Policy Responses, and Distributional Effect Natalia Fabra, Center for Monetary and Financial Studies (CEMFI), Spain Energy crises are becoming recurrent, requiring governments to understand the impact of their policy responses better. During the 2021–2023 crisis, most EU countries implemented costly downstream subsidies that strained public funds and distorted competition. Conversely, Spain and Portugal intervened in the wholesale market, decoupling electricity prices from gas. This "Iberian solution" significantly reduced consumer bills with minimal fiscal impact and positive distributional outcomes, albeit some distortion in electricity trade. This keynote will review analyses of these policy responses and examine preliminary evidence from the current crisis, where expanded renewable deployment is increasingly buffering economies against fossil fuel volatility. The discussion will highlight how policy design can harmonize economic efficiency with social equity during energy crisis periods. |