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EU Gas Industry Reforms and Consumers' Prices

Abstract:
This paper offers an empirical analysis of the impact of reforms in the natural gas industry on consumer prices across the EU-15 area. After briefly reviewing the most recent reforms, we study the relationship between regulatory indicators and price dynamics by means of panel data econometrics. Our findings suggest that so far there is limited evidence of beneficial effects for European consumers from the standard package of gas industry reforms.

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Energy Specializations: Natural Gas – Markets and Prices; Natural Gas – Policy and Regulation

JEL Codes:
L13 - Oligopoly and Other Imperfect Markets
E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General

Keywords: Natural gas industry, privatization, liberalization, regulatory reform

DOI: 10.5547/ISSN0195-6574-EJ-Vol31-No4-8

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Published in Volume 31, Number 4 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.