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The Economics of Seasonal Gas Storage

  • Corinne Chaton

    (Crest)

  • Anna Creti

    (Crest)

  • Bertrand Villeneuve

    (Crest)

We propose a model of seasonal gas markets which is flexibleenough to include supply and demand shocks while also consideringnatural gas as an exhaustible resource. Using US data, we estimate themodel’s structural parameters and test economically founded restrictions.We analyze, theoretically and using the estimates, the impactof policies (price caps, tariffs, cross subsidies) on prices and quantitiesconsumed or stored. This evaluation gives insights into past orenvisaged public interventions.

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Paper provided by Centre de Recherche en Economie et Statistique in its series Working Papers with number 2005-52.

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Length: 35
Date of creation: 2005
Date of revision:
Handle: RePEc:crs:wpaper:2005-52
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  1. MacAvoy, Paul W. & Pindyck, Robert S., 1973. "Alternative regulatory policies for dealing with the natural gas shortage," Working papers 659-73., Massachusetts Institute of Technology (MIT), Sloan School of Management.
  2. Brian D. Wright & Jeffrey C. Williams, 1982. "The Roles of Public and Private Storage in Managing Oil Import Disruptions," Bell Journal of Economics, The RAND Corporation, vol. 13(2), pages 341-353, Autumn.
  3. Amundsen, Eirik Schroder, 1991. "Seasonal fluctuations of demand and optimal inventories of a non-renewable resource such as natural gas," Resources and Energy, Elsevier, vol. 13(3), pages 285-306, September.
  4. Rocío Uría & Jeffrey Williams, 2007. "The Supply of Storage for Natural Gas in California," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 31-50.
  5. Bryan Routledge & Duane Seppi & Chester Spatt, . "Equilibrium Forward Curves for Commodities," GSIA Working Papers 1997-49, Carnegie Mellon University, Tepper School of Business.
  6. Just, Richard & Lutz, Ernst & Schmitz, Andrew & Turnovsky, Stephen, 1978. "The distribution of welfare gains from price stabilization : An international perspective," Journal of International Economics, Elsevier, vol. 8(4), pages 551-563, November.
  7. Creti, Anna & Villeneuve, Bertrand, 2009. "Gas storage and security of Supply," Economics Papers from University Paris Dauphine 123456789/5383, Paris Dauphine University.
  8. Cremer, Helmuth & Gasmi, Farid & Laffont, Jean-Jacques, 2003. "Access to Pipelines in Competitive Gas Markets," Journal of Regulatory Economics, Springer, vol. 24(1), pages 5-33, July.
  9. Newbery, D., 2005. "Why Tax Energy? Towards a More Rational Energy Policy," Cambridge Working Papers in Economics 0508, Faculty of Economics, University of Cambridge.
  10. Wilson, Robert B, 1989. "Efficient and Competitive Rationing," Econometrica, Econometric Society, vol. 57(1), pages 1-40, January.
  11. Wright, Brian D & Williams, Jeffrey C, 1982. "The Economic Role of Commodity Storage," Economic Journal, Royal Economic Society, vol. 92(367), pages 596-614, September.
  12. Modjtahedi, Bagher & Movassagh, Nahid, 2005. "Natural-gas futures: Bias, predictive performance, and the theory of storage," Energy Economics, Elsevier, vol. 27(4), pages 617-637, July.
  13. repec:cup:cbooks:9780521326162 is not listed on IDEAS
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