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A Rough Analysis: Valuing Gas Storage

Monica Giulietti, Luigi Grossi, and Michael Waterson
Authors registered in the RePEc Author Service: Michael Waterson, Monica Giulietti () and Luigi Grossi ()

The Energy Journal, 2012, vol. Volume 33, issue Number 4

Abstract: This paper studies the impact of a fire in 2006 which removed the possibility of access to the Rough gas storage facilities covering over 80% of total UK storage, at a time when major withdrawals from storage would have likely taken place. Implicitly, it shows the value of such gas storage facilities, in a country with relatively little storage, where we might therefore see a considerable impact. We find that the major effect on activity was through an increased sensitivity of supply to prices and an increased variance in this sensitivity, not through non-price rationing.

JEL-codes: F0 (search for similar items in EconPapers)
Date: 2012
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