In 1992, the U.S. Federal Energy Regulatory Commission created a secondary market for natural gas transportation whereby shippers holding firm transportation capacity on interstate natural gas pipelines can compete with the pipeline in the provision of transportation services. However, if a...

On both sides of the Atlantic, the regulation of gas transmission networks has undergone major changes since the early 1990s. Whereas in the US, the long-standing regime of cost-plus regulation was complemented by increasing pipe-to-pipe competition, most European countries moved towards...

In 1996, the Federal Energy Regulatory Commission (FERC) established criteria for evaluating market-based rate proposals submitted by natural gas pipelines. According to one criterion, whose purpose is to ensure that a deregulated pipeline does not increase its transport price by restricting...