Ownership Separation of the Gas Transportation Network: Theory and Practice

Susanna Dorigoni and Federico Pontoni ()

ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, 2010, issue 2, 57-83

Abstract: This article analyzes the pros and cons of ownership separation of the gas transportation network. This analysis is made with a specific test that confronts two pairs of different theoretical approaches on vertical integration. The result of this test shows that no uncontroversial solution can be offered to this problem, since all arguments (be them in favour or against) can be comfortably contrasted by a counterargument. In our view, an effective regulation would solve the problem, even though it has to be highlighted that ownership separation of the gas transportation network is not the key aspect of the gas industry. EU directives, in fact, cannot be applied where the biggest part of the value chain is produced, that is to say beyond the European borders, where an oligopoly operates. Due to its bargaining power, this oligopoly captures almost all the scarcity rent, reducing the scope for market liberalization.

Keywords: Separazione proprietaria; chiusura verticale; capacit? negoziale (search for similar items in EconPapers)
JEL-codes: L13 L42 L95 (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations: View citations in EconPapers (4)

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