Facebook LinkedIn Instagram Twitter
Shop
Search
Begin New Search
Proceed to Checkout

Search Results for All:
(Showing results 1 to 4 of 4)



Deregulating the Generation of Electricity Through the Creation of Spot Markets for Bulk Power

Roger E. Bohn, Bennett W. Golub, Richard D. Tabors, and Fred C. Schweppet

Year: 1984
Volume: Volume 5
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol5-No2-5
View Abstract

Abstract:
Many observers are dissatisfied with the current condition of privately owned electric utilities in the United States. Numerous pro-posals have been made for change, including suggestions to deregulate all or part of the industry.' Those who favor deregulation argue that electric power systems, and especially electric generation, may no longer be natural monopolies. Furthermore, under the present regulatory regime, many utilities are refraining from investing, which is not in the best interests of their customers.2 Others, however, worry that quality and reliability of1. See Golub (1982, Chapter 2) for a review of the literature on deregulating electricutilities.2. A major electric utility's internal planning documents discussed the problem as follows. The ability to raise new capital is finite, and is especially limited given the current financial condition, the economy, and the regulatory climate. Thus, although the recommended investments ... will lead to a correct economic decision ... they may not be desirable due to other constraints [on the company] ... The document goes on to report that the company is not investing in coal projects, although such projects' long-term cost is one-third less than current anticipated generating costs.



The Development of a UK Natural Gas Spot Market

Joe Roeber

Year: 1996
Volume: Volume17
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol17-No2-1
View Abstract

Abstract:
This paper examines parallels between the evolution of spot markets jor oil during the 1980s, particularly Brent, and what is now happening in the UK gas industry. The structure of supply, formerly within the control of British Gas, is breaking up under antitrust and regulatory pressures, and the short-term balancing needs of the system are being externalised. This is giving rise to a spot market. This paper identifies four stages in the development of a spot market, of which the UK market is presently in the first and second stages (physical balancing and the development of price transparency). Feedback effects on prices are already apparent, and the fourth stage, the development of risk management tools, is being discussed. This scenario was drawn up three years ago, based upon the experience of oil before the existence of a gas spot market was acknowledged. It has so far not missed a step. According to this analysis, the question over the extension of this logic to the gas markets in Continental Europe is not whether, but when?



Price Convergence in North American Natural Gas Spot Markets

Marlin King and Milan Cuc

Year: 1996
Volume: Volume17
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol17-No2-2
View Abstract

Abstract:
In this paper we apply time-varying parameter (Kalman Filter) analysis to measure the degree of price convergence in North American natural gas spot markets. This statistical approach allows for an assessment of the strength of price convergence across various gas-producing basins. It is also a technique better suited than cointegration analysis because of the explicit presence of time varying parameters. Our results indicate that price convergence in natural gas spot markets has increased significantly since the price deregulation of the mid1980s. However, results to date indicate that there is still some way to go before one can speak of a single North American market for natural gas.



Linking Natural Gas Markets - Is LNG Doing its Job?

Anne Neumann

Year: 2009
Volume: Volume 30
Number: Special Issue
DOI: 10.5547/ISSN0195-6574-EJ-Vol30-NoSI-12
View Abstract

Abstract:
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 commodity prices should move closer than before. Using 2,059 pairs of daily spot prices for natural gas in North America and Europe we investigate price dynamics covering the period from 1999 until 2008. We apply the Kalman Filter technique which measures convergence by allowing for dynamic structural change to gain detailed information on trends inherent in prices over time. Results suggest an increasing convergence of spot prices on either side of the Atlantic Basin.





Begin New Search
Proceed to Checkout

 





function toggleAbstract(id) { alert(id); }