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dc.contributor.authorBrakman, Stevenen_US
dc.contributor.authorvan Marrewijk, Charlesen_US
dc.contributor.authorvan Witteloostuijn, Arjenen_US
dc.date.accessioned2009-07-17en_US
dc.date.accessioned2010-05-14T08:23:00Z-
dc.date.available2010-05-14T08:23:00Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/30594-
dc.description.abstractIn the European Union, energy markets are increasingly being liberalized. A case in point is the European natural gas industry. The general expectation is that more competition will lead to lower prices and higher volumes, and hence higher welfare. This paper indicates that this might not happen for at least two reasons. First, energy markets, including the market for natural gas, are characterized by imperfect competition and increasing costs to develop new energy sources. As a result, new entrants in the market are less efficient than incumbent firms. Second, energy markets, again including the market for natural gas, are associated with capacity constraints. Prices are determined in residual markets where the least efficient firms are active. This is likely to lead to price increases, rather than decreases.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper 2697en_US
dc.subject.jelD40en_US
dc.subject.jelL10en_US
dc.subject.jelL50en_US
dc.subject.ddc330en_US
dc.subject.stwGaswirtschaften_US
dc.subject.stwDeregulierungen_US
dc.subject.stwUnvollkommener Wettbewerben_US
dc.subject.stwWirtschaftliche Effizienzen_US
dc.subject.stwProduktionskapazitäten_US
dc.subject.stwBottlenecken_US
dc.subject.stwPreisen_US
dc.subject.stwEU-Staatenen_US
dc.titleMarket liberalization in the European natural gas market : the importance of capacity constraints and efficiency differencesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn604952716en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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