Intégration latérale dans le secteur de l'énergie
AbstractThis paper analyses mergers between gas and electricity activities, a "conglomerate relationship" in the Commission lingo. We first review the paradigmatic case of the recent failed takeover on Endesa by Gas Natural in Spain. Then, we detail a model of imperfect competition combining four production units: an importer of natural gas selling to final consumers, an importer of natural gas selling to the electricity industry, a gas-turbine electricity producer, and a non-gas electricity producer. On the consumer side, gas and electricity are imperfect substitutes. We successively analyze the dispatch of the four units i) at first best, ii) by a private monopoly, iii) by an oligopoly, iv) by an upstream gas monopoly facing downstream competition, and v) by a bilateral monopoly. We emphasize the paramount role of the price for intermediary gas and suggest that the supply of bulk gas and retail gas should be separated. JEL codes: G34, L22, L94, L95.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Presses de Sciences-Po in its journal Revue de l'OFCE.
Volume (Year): 101 (2007)
Issue (Month): 2 ()
Contact details of provider:
Web page: http://www.cairn.info/revue-de-l-ofce.htm
Other versions of this item:
- Crampes, Claude, 2007. "Intégration latérale dans le secteur de l'énergie," Open Access publications from University of Toulouse 1 Capitole http://neeo.univ-tlse1.fr, University of Toulouse 1 Capitole.
- G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
- L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
- L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
- L95 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Gas Utilities; Pipelines; Water Utilities
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statistics
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jean-Baptiste de Vathaire).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.