A Rough Analysis: Valuing Gas Storage

Monica Giulietti, Luigi Grossi and Michael Waterson

The Energy Journal, 2012, vol. 33, issue 4, 118-142

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.

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:sae:enejou:v:33:y:2012:i:4:p:118-142

DOI: 10.5547/01956574.33.4.6

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