Pre-tax price dispersion remains sizeable in electricity and gas markets. Nonetheless, evidence can be found that past market liberalisation has supported price reduction in these sectors. Further reforms towards a more competitive environment creating a level playing field across the euro area would diminish price dispersion and benefit consumers and firms”. 4  BIS Review 101/2010  soften the economic impact of the crisis.
But with the economic outlook improving, it is now time to phase out these special measures and to start fiscal consolidation, in line with the recommendations made in the country-specific excessive deficit procedures. For a number of countries, this process should start in 2010 and for the remainder it should start in 2011 at the latest.