| dc.creator |
Asche, Frank |
|
| dc.creator |
Osmundsen, Petter |
|
| dc.creator |
Sandsmark, Maria |
|
| dc.date |
2005 |
|
| dc.date.accessioned |
2013-10-16T07:01:14Z |
|
| dc.date.available |
2013-10-16T07:01:14Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
http://hdl.handle.net/10419/18765 |
|
| dc.identifier |
ppn:479302936 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/18765 |
|
| dc.description |
After opening up of the Interconnector, the liberalized UK natural gas market and the regulated Continental gas markets became physically integrated. The oil-linked Continental gas price became dominant, due to both the large volume of the Continental market and to the fact that the significant call options embedded in the complex take-or-pay contracts make these contracts the marginal source of supply. However, in an interim period – after deregulation of the UK gas market (1995) and the opening up of the Interconnector (1998) – the UK gas market had neither government price regulation nor a physical Continental gas linkage. We use this period – which for natural gas markets displays an unusual combination of deregulation and autarky – as a natural experiment to explore if decoupling of natural gas prices from prices of other energy commodities, such as oil and electricity, took place. Using monthly price data, we find a highly integrated market where wholesale demand seems to be for energy rather than a specific energy source. |
|
| dc.language |
eng |
|
| dc.publisher |
|
|
| dc.relation |
CESifo working papers 1401 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
Q48 |
|
| dc.subject |
C32 |
|
| dc.subject |
L90 |
|
| dc.subject |
L10 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
energy markets |
|
| dc.subject |
price interlinkages |
|
| dc.subject |
cointegration analysis |
|
| dc.subject |
Erdgas |
|
| dc.subject |
Preis |
|
| dc.subject |
Erdölpreis |
|
| dc.subject |
Internationaler Preiszusammenhang |
|
| dc.subject |
Schätzung |
|
| dc.subject |
Grossbritannien |
|
| dc.title |
Is it all oil? |
|
| dc.type |
doc-type:workingPaper |
|