Some economics of seasonal gas storage |
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Authors: | Corinne Chaton Anna Creti Bertrand Villeneuve |
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Affiliation: | 1. Electricité de France R&D, France;2. Università Bocconi and IEFE, Milan, Italy;3. Université de Tours, CREST (Paris) and Laboratoire de Finance des Marchés d’Énergie, France |
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Abstract: | We propose a model of seasonal gas markets which is flexible enough to include supply and demand shocks while also considering exhaustibility. The relative performances of alternative policies based on price caps and associated measures or tariffs are discussed. We illustrate with structural estimates on US data how this theory can be used to give insights into the intertemporal incidence of policy instruments. |
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Keywords: | Gas storage Energy policies US |
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