A Rough Examination of the value of gas storage

Monica Giulietti, Luigi Grossi and Michael Waterson

The Warwick Economics Research Paper Series (TWERPS) from University of Warwick, Department of Economics

Abstract: This paper studies the impast of a fire in 2006 which removed the possibility of access to the Rough gas storage facilities covering 80% of total UK storage, at a time when major withdrawals from storage would likely have taken place. Implicitly, it shows the value of such 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 sensivity of supply to prices and an increased variance in this sensitivity, not through plysical shortages of gas.

Date: 2011
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Working Paper: A Rough Examination of the value of gas storage (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:wrk:warwec:967

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