Scandinavian Working Papers in Economics
Working Papers,
Copenhagen Business School, Department of Economics
No 4-2025: Is Spain’s Energy Voucher Lighting the Way for the Poor? A Microeconomic Evaluation of the Bono Social Eléctrico
Manuel Llorca () and Ana Rodriguez-Alvarez
Additional contact information
Manuel Llorca: Department of Economics, Copenhagen Business School, Postal: Copenhagen Business School, Department of Economics, Porcelaenshaven 16 A. 1. floor, DK-2000 Frederiksberg, Denmark
Ana Rodriguez-Alvarez: Oviedo Efficiency Group, Department of Economics, University of Oviedo
Abstract: Energy poverty refers to the inability of households to afford adequate energy services, connected to negative impacts on health, well-being, and economic opportunities. It is a social policy issue that exacerbates inequality and limits access to essential services, particularly among vulnerable populations. In Spain, energy poverty has become an increasing concern, with many low-income households struggling to meet their energy needs despite various social protection mechanisms. This paper analyses the effectiveness of the Bono Social Eléctrico (BSE), a Spanish social electricity voucher aimed at alleviating energy poverty among vulnerable households. Departing from a microeconomic theoretical framework and a applying a Stochastic Frontier Analysis (SFA) approach, the study evaluates the gap between observed and potential energy poverty levels. The empirical analysis employs Spanish household panel data from 2021 to 2023, capturing key household characteristics and subsidy information. The findings indicate that, while the BSE contributes to reducing energy poverty, its impact is constrained by insufficient coverage of the poorest households and inefficiencies in allocation. The study suggests policy recommendations to enhance the voucher’s targeting mechanisms and explores strategies for more effective interventions to address energy poverty.
Keywords: Energy poverty; Policy evaluation; Stochastic frontier analysis; Spain; Bono social eléctrico
Language: English
31 pages, April 23, 2025
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