This paper investigates the development of wholesale markets for natural gas at the different stages of market liberalization. We review in detail the different regulatory measures that must be introduced to create an efficient and functioning wholesale gas market. Finally, we analyze the evolution of gas hubs in the UK, the Netherlands, Germany, Italy and Belgium in terms of market rules and market liquidity.
The development of gas hubs in Europe
MIRIELLO, CATERINA;POLO, MICHELE
2014
Abstract
This paper investigates the development of wholesale markets for natural gas at the different stages of market liberalization. We review in detail the different regulatory measures that must be introduced to create an efficient and functioning wholesale gas market. Finally, we analyze the evolution of gas hubs in the UK, the Netherlands, Germany, Italy and Belgium in terms of market rules and market liquidity.
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