Building Gas Markets: US versus EU, market versus market model
License
Access Rights
Cadmus Permanent Link
Full-text via DOI
ISBN
ISSN
2211-9175
Issue Date
Type of Publication
Keyword(s)
LC Subject Heading
Other Topic(s)
EUI Research Cluster(s)
Initial version
Published version
Succeeding version
Preceding version
Published version part
Earlier different version
Initial format
Citation
European Energy Journal, 2012, 3, 39-47
[Loyola de Palacio Chair]
Cite
VAZQUEZ, Miguel, HALLACK, Michelle, GLACHANT, Jean-Michel, Building Gas Markets: US versus EU, market versus market model, European Energy Journal, 2012, 3, 39-47, [Loyola de Palacio Chair] - https://hdl.handle.net/1814/21641
Abstract
The liberalization process of the gas sector has showed that the reasoning to introduce competition in gas industries separates the services in at least two groups: commodities with relatively low transaction costs, and hence suitable to short-term market coordination, and network services which concentrate most of the specificities related to the physical flows. However, the way to coordinate such network services is still under debate. In this view, in USA specific services are coordinated through long term contracts, whereas the EU regulatory frame socializes the costs of the network services. In this paper, we develop a general analysis of the major consequences of this fundamental regulatory choice. In addition, we build on such analysis to explain the differences among the current proposals to design the coming European Internal Market.