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Building Competitive Gas Markets In The EU

Building Competitive Gas Markets In The EU Regulation, Supply and Demand

Author: Jean-Michel Glachant; Michelle Hallack; Miguel Vazquez; Sophia Ruester; Sergio Asacri
Publisher: Edward Elgar Publishing
ISBN: 9781782540632
Published In: September 2013
Format: Hardback , 296 pages
Jurisdiction: European Union ? Disclaimer:
Countri(es) stated herein are used as reference only

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This highly unique book focuses on market design issues common to most EU gas markets, particularly in the context of closer integration. It explores in detail the characteristics and requirements of national gas markets in Europe which are constructed as virtual hubs based on entry/exit schemes as a requirement of European law.

The expert contributors analyse gas supply and demand patterns in the EU, showing that both have changed following the introduction of liquefied natural gas on the supply side and the growth of gas-fired power plants on the demand side. The repeated interactions between the transmission operators’ activity and the gas commodity markets are addressed, as is the design of commercial networks in EU markets. The contributors also question whether the relationship between commercial and physical networks, in terms of the ‘new’ flexibility requirements of users, actually works. By way of conclusion, two proposals for the EU gas target model are presented, both of which tackle the fundamental issues raised in this book, as well as the organization of short-term transactions and the mechanisms for investment in vital new long-life infrastructure needed to integrate EU markets.

This volume will be of great interest to practitioners, as well as academics, researchers and students in the fields of energy economics and industrial economics. Both European and non-European energy companies and regulatory authorities looking for an independent and analytical overview of European gas markets will also find this book to be a highly valuable resource.

Foreword by Walter Boltz With contributions from Sergio Asacri and Sophia Ruester Contents: Foreword by Walter Boltz Introduction Part I: The New European Gas Market: Increased Flexibility in Both Demand and Supply 1. Introduction 2. Gas Demand: The Role of Gas-fired Power Plants 3. Gas Supply: The Role of Liquefied Natural Gas by Sophia Ruester Part II: The Role Played by Networks Regulation 4. Introduction 5. Opening or Not a Market for Gas Flexibility Part III: The EU Regulation in the Context of the EU Target Model 6. Introduction 7. A Vision for the EU Gas Target Model: MECO-S 8. An American Model for the EU Gas Market? by Sergio Asacri Conclusions Bibliography

Jean-Michel Glachant, Holder of the Loyola de Palacio Chair on EU Energy Policy and Director, Florence School of Regulation, European University Institute, Italy, Michelle Hallack, Jean Monnet Fellow at the Loyola de Palacio Chair, European University Institute, Italy and Miguel Vazquez, Jean Monnet Fellow at the Loyola de Palacio Chair, European University Institute, Italy with contributions from Sophia Ruester and Sergio Asacri