This letter provides a textbook example of an econometric analysis of the integration between two commodity markets and the subsequent price convergence or absence thereof. Price relations between spot markets are analysed for natural gas in Europe. The European market for natural gas is currently undergoing a liberalization process with the aim of creating a single, unified market. Time-varying coefficient ...
Structural changes in the European natural gas market such as liberalization, increasing demand, and growing import dependency have triggered new attempts to model this market accurately. This paper presents a model of the European natural gas supply, GASMOD, which is structured as a two-stagegame of successive natural gas exports to Europe (upstream market) and wholesale trade within Europe (downstream ...
In this paper, we analyze structural changes in long-term contracts in the international trade of natural gas. Using a unique data set of 262 long-term contracts between natural gas producers and importers, we estimate the impact of different institutional, structural and technical variables on the duration of contracts. We find that contract duration decreases as the market structure of the industry ...
This paper provides a cross-country efficiency analysis of electricity distribution companies in East European transition countries (Poland, Czech Republic, Slovakia and Hungary). We compare the relative technical efficiency of East European regional distribution companies (RDCs) among themselves, as well as with German RDCs. We use the nonparametric DEA, and also apply bootstrapping techniques and ...
For various reasons, the policies governing the energy sector have a central role to play in Germany. Thus, for example, competition on the electricity and gas markets will have to be increased considerably in the course of the market’s liberalization. At the same time, a secure supply of energy must also be ensured, in other words, the matters of preventing short-term power outages while ensuring ...
