European gas regulation: a change of focus

Aldo Spanjer

MPRA Paper from University Library of Munich, Germany

Abstract: This paper confronts the current European gas regulation with the emerging new energy paradigm. It argues that due to a lack of policy credibility, the hold-up problem is a serious threat that will undermine the workings of the future EU gas market. This paper explores how one could from a theoretical perspective, given the characteristics of the EU gas markets, try to solve the hold-up problem. Two conclusions are 1) that hold-up will not be solved completely and 2) that in order to solve the hold-up problem as much as possible, the underlying assumption of energy policy should be changed. More specifically, the regulatory focus should no longer emphasize predominantly the consumer interests, but should instead more explicitly recognize producer interests. This implies that the current European gas regulation requires a change of focus.

Keywords: gas regulation; hold-up; regulation theory; new energy paradigm (search for similar items in EconPapers)
JEL-codes: L51 L95 Q48 (search for similar items in EconPapers)
Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in Department of Economics Research Memorandum 2006.04 (2006): pp. 1-14

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/21146/1/MPRA_paper_21146.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:21146

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().