By Anna Cretì (auth.), Anna Cretì (eds.)
Within the context of an evolving international marketplace for normal fuel and restructuring efforts within the ecu industry, fuel garage is a vital aspect. supplying extra flexibility, selling pageant, and embellishing provide safety are the most important elements for usual gasoline region liberalization. garage in Europe has come to the heart of the strength coverage debate regularly as a result of very chilly temperatures in iciness 2005/06 and gasoline expense raises in the course of that point period.
This publication covers 4 major subject matters: improvement of business garage; entry legislation; capability allocation and marketplace strength; garage and protection of gasoline provide. every one bankruptcy places forth an cutting edge analytical version mentioned or utilized to realistically clarify particular matters in a single of the 4 largest eu gasoline eating nations (France, Germany, Italy and the UK).
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Extra info for The Economics of Natural Gas Storage: A European Perspective
G. LNG tanker arrivals). Strategic reserve. Storage facilities might serve as a physical hedge and therefore be operated more smoothly than implied by pure arbitrage considerations. Cost of storage operations. Optimization of the storage facility may not be based on the variable cost of storage operations. Storage contracts usually alloce a share of variable costs to flat-rate components. Exercise of market power. Storage operators or customers can withhold natural gas in periods of low price elasticity.
Wei, S. Z. C. and Zhen, Z. (2006). Commodity convenience yield and risk premium determination: The case of the US natural gas market. Energy Economics, 28(4), 523–535. Williams, J. C. and Wright, B. D. (1991). Storage and commodity markets. Cambridge: Cambridge University Press. Wright, B. D. and Williams, J. C. (1982). The economic role of commodity storage. The Economic Journal, 92(367), 596–614. Wright, B. D. and Williams, J. C. (1989). A theory of negative prices for storage. Journal of Futures Markets, 9(1), 1–13.
E. Baranes, F. -C. Poudou Facult´e des Sciences Economiques, Universit´e Montpellier 1, Espace Richter, av. fr 1 For an economic analysis of competition in gas market see Cremer and Laffont (2002). A. 1007/978-3-540-79407-3 3, c 2009 Springer-Verlag Berlin Heidelberg 31 32 E. Baranes et al. Supply source diversification is a flexibility tool for gas firms, particularly during peak demand periods and when resources are insufficient2 with respect to the subscribed long-term contracts. In broad, a gas producer can manage its supply portfolio by using several flexibility tools: subscribing long-term contracts, upstream vertical integration,3 or even using spot markets for obtaining the quantities which are not covered by the internal supply sources and long-term contracts.
The Economics of Natural Gas Storage: A European Perspective by Anna Cretì (auth.), Anna Cretì (eds.)