The Economics of Seasonal Gas Storage

Corinne Chaton, Anna Creti and Bertrand Villeneuve
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Anna Creti: Crest

No 2005-52, Working Papers from Center for Research in Economics and Statistics

Abstract: We propose a model of seasonal gas markets which is flexibleenough to include supply and demand shocks while also consideringnatural gas as an exhaustible resource. Using US data, we estimate themodel's structural parameters and test economically founded restrictions.We analyze, theoretically and using the estimates, the impactof policies (price caps, tariffs, cross subsidies) on prices and quantitiesconsumed or stored. This evaluation gives insights into past orenvisaged public interventions.

Pages: 35
Date: 2005
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Working Paper: The Economics of Seasonal Gas Storage (2006)
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