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European gas markets experienced a very turbulent period from 2020 to 2022, which led to the lowest ever northwest European gas prices at the end of May 2020, then several strong rallies led to four successive ‘highest ever’ prices, the most recent being in August 2022. After each of those...
Persistent link: https://www.econbiz.de/10015045199
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Scarce storage capacity and distortions in access to gas storage are considered causes of market foreclosure in liberalized gas markets. We consider rules currently adopted in Europe for storage rationing and propose efficient rationing mechanism based on the value of storage, when other...
Persistent link: https://www.econbiz.de/10010343858
improvements under deregulation is ambiguous. It is also unclear why different states adopt consumer choice, price caps, sliding …-scale plans, or retain rate-of-return regulation. This study evaluates several economic factors behind deregulation in gas … deregulation. Demonstration effects from surrounding markets also contribute. These factors make the propensity to use price caps …
Persistent link: https://www.econbiz.de/10012983340
deregulation in the gas distribution market. Competing-risk hazard models are used to explain when and which regulatory regime … the risk of all forms of deregulation, albeit with different time delay. In election years, the risk of price cap adoption …
Persistent link: https://www.econbiz.de/10014041186
Causes and consequences of deregulation and restructuring in utility markets in US states continue to draw heated … formulate predictions about regulators’ net benefits from a particular form of deregulation. Empirical hazard model evaluates … are significant in explaining the pattern of deregulation. Utilities’ prices, capacity and scope of operations help …
Persistent link: https://www.econbiz.de/10014187186
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This paper is the first to discuss the design of futures hedging strategies in European natural gas markets (NBP, TTF and Zeebrugge). A common feature of energy prices is that conditional mean and volatility are driven by seasonal trends due to weather, demand, and storage level seasonalities....
Persistent link: https://www.econbiz.de/10010479020
-reducing, EU law requires unbundling (separation) of the VIU networks. However, the EU allows its member states the choice between … incomplete (legal) and complete (ownership) unbundling. There is tantalizing anecdotal evidence that VIUs have tried to influence … are perceived as more corrupt are indeed more likely to apply weaker forms of unbundling. Somewhat surprisingly, we do not …
Persistent link: https://www.econbiz.de/10014219240