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V. Policy Trends: The Future Is Now - The Decline and Fall of Regulation in the Natural Gas Industry

Arlon R. Tussing and Connie C. Barlow

Year: 1982
Volume: Volume 3
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol3-No4-5
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A theme that runs through the long, convoluted history of natural gas regulation is the seemingly inexorable expansion of government intervention. Regulation has spawned further regulation; soon after one regulatory gap was filled, another appeared. Municipal franchising and price regulation of gas distributors led to state oversight of intrastate gas transmission, which prompted federal regulation of interstate transmission, followed by control of interstate affiliated field prices and later interstate independent field prices. Finally, the Natural Gas Policy Act of 1978 (NGPA) extended federal jurisdiction to all intrastate field sales.

The Natural Gas Industry in Transition

George H. Lawrence and Michael I. German

Year: 1983
Volume: Volume 4
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol4-No1-8
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After 25 years of field price regulation, the U.S. natural gas industry is moving to a deregulated field market. This transition period has been made more difficult because of the international recession, depressed oil prices, and statutory restraints on gas use that were originally designed under assumptions of declining gas supply.

The Diminishing Role of Regulation in the Natural Gas Industry

Charles G. Slalon

Year: 1986
Volume: Volume 7
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol7-No2-1
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The natural gas industry grew to maturity under a system of strong monopoly power of pipelines and local distribution companies (LDCs) and balkanized markets at wellheads and burnertips. Recent developments in the industry, especially phased deregulation of wellhead prices implemented by the Natural Gas Policy Act of 1978 (NGPA) and competition induced by the gas bubble since 1982, have somewhat reduced pipeline monopoly power in some markets. Considerations of economic efficiency and economic justice now require that competitive forces be strengthened further. The FERC's Order 436 was an attempt to do that.

Structure and Organization of the Natural Gas Industry: Differences between the United States and the Federal Republic of Germany and Implications for the Carrier Status of Pipelines

David J. Teece

Year: 1990
Volume: Volume 11
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol11-No3-1
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This paper explores various ways to organize the natural gas industry. In particular, it examines the function of merchant pipelines and explores how mandatory carriage has come to be introduced into the United States. The applicability of the US experience to the European Community is questioned because of the very different regulatory histories of the United States and Europe. The paper concludes that the "open access" trend in the United States has stemmed from the need to patch up the results of previous regulatory errors; and though the Federal Energy Regulatory Commission (FERC) may have helped relieve certain short-term problems by championing open access, it may have created long-term problems that are disguised by the current gas glut. The American regulatory experience in natural gas over the past two decades is seen as most unfortunate, and the benefits available to Europe from imitating recent FERC regulatory strategies are found to be illusory.

EU Gas Industry Reforms and Consumers' Prices

Rinaldo Brau, Raffaele Doronzo, Carlo V. Fiorio and Massimo Florio

Year: 2010
Volume: Volume 31
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol31-No4-8
View 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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