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Externe referierte Aufsätze

Removing Cross-Border Capacity Bottlenecks in the European Natural Gas Market: A Proposed Merchant-Regulatory Mechanism

We propose a merchant-regulatory framework to promote investment in the European natural gas network infrastructure based on a price cap over two-part tariffs. As suggested by Vogelsang (J Regul Econ 20:141–165, 2001) and Hogan et al. (J Regul Econ38:113–143, 2010), a profit maximizing network operator facing this regulatory constraint will intertemporally rebalance the variable and fixed part of its ...

In: Networks and Spatial Economics 15 (2015), 1, 149-181 | Anne Neumann, Juan Rosellón, Hannes Weigt
Externe referierte Aufsätze

The Globalization of Steam Coal Markets and the Role of Logistics: An Empirical Analysis

In this paper, we provide a comprehensive multivariate cointegration analysis of three parts of the steam coal value chain - export, transport and import prices. The analysis is based on a rich dataset of international coal prices; in particular, we combine data on steam coal prices with freight rates, covering the period December 2001 until August 2009 at weekly frequency. We then test whether the ...

In: Energy Economics 34 (2012), 1, S. 105-116 | Aleksandar Zaklan, Astrid Cullmann, Anne Neumann, Christian von Hirschhausen
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Overcoming Data Limitations in Nonparametric Benchmarking: Applying PCA-DEA to Natural Gas Transmission

We empirically demonstrate a practical approach of efficiency evaluation with limited data availability in some regulated industries. We apply PCA-DEA for radial efficiency measurement to U.S. natural gas transmission companies in 2007. PCA-DEA reduces dimensions of the optimization problem while maintaining most of the variation in the original data. Our results suggest that the methodology reduces ...

In: Review of Network Economics 9 (2010), 2, Article 4 | Maria Nieswand, Astrid Cullmann, Anne Neumann
Externe referierte Aufsätze

Does the European Natural Gas Market Pass the Competitive Benchmark of the Theory of Storage? Indirect Tests for Three Major Trading Points

This paper presents the first comparative analysis of the relationship between natural gas storage utilization and price patterns at three major European trading points. Using two indirect tests developed by (Fama and French, 1987) and (Fama and French, 1988) that are applied in other commodity markets, we impose the no arbitrage condition to model the efficiency of the natural gas market. The results ...

In: Energy Policy 37 (2009), 12, S. 5432-5439 | Marcus Stronzik, Margarethe Rammerstorfer, Anne Neumann
Externe referierte Aufsätze

Linking Natural Gas Markets - Is LNG Doing Its Job?

The increase in liquefied natural gas trade has accelerated the integration of previously segmented markets in North America, Europe, and Asia. This paper provides evidence on the integration of the transatlantic natural gas market; it thus complements other papers in the EMF 23 study that focus on prices and international natural gas trade. We test the theoretical proposition that in integrating markets ...

In: The Energy Journal (2009), Special Issue, S. 187-200 | Anne Neumann
Externe referierte Aufsätze

The Prospects for Liquefied Natural Gas Development in the US

The objective of our paper is to analyze the prospects for LNG development in the US. In particular, we discuss LNG investment projects with respect to natural gas supply and demand, existing transmission infrastructure, and competing pipeline projects. At the same time potential competition between natural gas and coal in power generation is taken into account. We conclude that in the mid-term, LNG ...

In: Energy Policy 36 (2008), 8, S. 3160-3168 | Sophia Rüster, Anne Neumann
Externe referierte Aufsätze

Long-Term Contracts and Asset Specificity Revisited: An Empirical Analysis of Producer-Importer Relations in the Natural Gas Industry

This paper discusses long-term contracts as a particular organizational form situated somewhere between full vertical integration and short-term, market-based trading in the natural gas industry. We focus on the determinants of the duration of contracts under changing technical, economic, and institutional conditions. Using 311 long-term contracts we find that duration decreases as international market ...

In: Review of Industrial Organization 32 (2008), 2, S. 131-143 | Christian von Hirschhausen, Anne Neumann
Externe referierte Aufsätze

Convergence of European Spot Market Prices for Natural Gas? A Real-Time Analysis of Market Integration Using the Kalman Filter

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 ...

In: Applied Economics Letters 13 (2006), 11, S. 727-732 | Anne Neumann, Boriss Siliverstovs, Christian von Hirschhausen
Externe referierte Aufsätze

International Market Integration for Natural Gas? A Cointegration Analysis of Prices in Europe, North America and Japan

This paper investigates the degree of integration of natural gas markets in Europe, North America and Japan in the time period between the early 1990s and 2004. The relationship between international gas market prices and their relation to the oil price are explored through principal components analysis and Johansen likelihood-based cointegration procedure. Both of them show a high level of natural ...

In: Energy Economics 27 (2005), 4, S. 603-615 | Boriss Siliverstovs, Guillaume L'Hégaret, Anne Neumann, Christian von Hirschhausen
Externe referierte Aufsätze

Access Pricing and Network Expansion in Natural Gas Markets

Wir diskutieren alternative Ansätze zur Bekämpfung lokaler Marktmacht in Erdgasmärkten mit einem besonderen Fokus auf den Ausbau bestehender Pipelinekapazitäten. Cremer und Laffont (Eur. Econ. Rev. 46:928-935, 2002) haben gezeigt, dass Preisdiskriminierungbeim Netzzugang korrigierend bei Marktversagen wirken und auch zur Erhöhung der Produktionsmenge (also Transportvolumina) führen kann. Im Gegensatz ...

In: Zeitschrift für Energiewirtschaft 34 (2010), 3, S. 179-183 | Georg Meran, Christian von Hirschhausen, Anne Neumann
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