This paper surveys the existing theoretical and empirical research on long term contracts inspired by the American experience. We analyze the role of take-or-pay clauses and price indexation rules, questioning whether regulation distorts optimal contract duration. The models we summarize allows us to discuss the economic fundamentals of the EU provisions on long-term contracts in the natural gas industry, pointing out that the EU position on long-term contracting seems to mix up contract duration and flexibility.

Long-term Contracts and Take-or-pay Clauses in Natural Gas Markets

CRETI', ANNA;
2004

Abstract

This paper surveys the existing theoretical and empirical research on long term contracts inspired by the American experience. We analyze the role of take-or-pay clauses and price indexation rules, questioning whether regulation distorts optimal contract duration. The models we summarize allows us to discuss the economic fundamentals of the EU provisions on long-term contracts in the natural gas industry, pointing out that the EU position on long-term contracting seems to mix up contract duration and flexibility.
2004
Creti', Anna; B., Villeneuve
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11565/40100
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