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This paper analyzes the role of storage for economies facing the risk of a gas supply disruption. We characterize the optimal/competitive transitory dynamics (accumulation, drainage and target stock). We partially relax the irreversibility hypothesis, by extending the model in two directions:...
Persistent link: https://www.econbiz.de/10014222555
The existence of a financial gas market motivates the analysis of gas storage as a separate asset, using the market value context for utilization and valuation. In the recent literature, gas storage is typically analysed within a framework with a simple one-factor price dynamics that is solved...
Persistent link: https://www.econbiz.de/10014047125
The seasonal demand for natural gas requires supply flexibility. This "swing" is now largely provided in northwestern Europe by indigenous production. Declining reserves will increase the dependency on imports from far-off sources, which are less flexible. Hence, flexibility must be provided by...
Persistent link: https://www.econbiz.de/10014057705
The purpose of this paper is the comparative analysis of four natural gas storage valuation approaches. In competitive natural gas markets the optimal valuation and operation of natural gas storages is a key task for natural gas companies operating storages. Within this paper, four spot based...
Persistent link: https://www.econbiz.de/10014040622
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natural gas prices are discussed. In the State of California, the agency responsible for the official forecast is the … California Energy Commission. Every two years, the CEC holds hearings for input into its biennial Fuels Report (FR) which …
Persistent link: https://www.econbiz.de/10009435409
facilitate industry solutions locally and enhance economic development. California has started a State Industries of the Future … effort, in collaboration with the U.S. Department of Energy. The California Energy Commission (CEC) is leading the SIOF … program in California, as part of many other programs to improve the energy efficiency and performance of industries in …
Persistent link: https://www.econbiz.de/10009436431