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dc.contributor.authorBrakman, Stevenen
dc.contributor.authorvan Marrewijk, Charlesen
dc.contributor.authorvan Witteloostuijn, Arjenen
dc.date.accessioned2009-07-17-
dc.date.accessioned2010-05-14T08:23:00Z-
dc.date.available2010-05-14T08:23:00Z-
dc.date.issued2009-
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
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x2697en
dc.subject.jelD40en
dc.subject.jelL10en
dc.subject.jelL50en
dc.subject.ddc330en
dc.subject.stwGaswirtschaften
dc.subject.stwDeregulierungen
dc.subject.stwUnvollkommener Wettbewerben
dc.subject.stwWirtschaftliche Effizienzen
dc.subject.stwProduktionskapazitäten
dc.subject.stwBottlenecken
dc.subject.stwPreisen
dc.subject.stwEU-Staatenen
dc.titleMarket liberalization in the European natural gas market : the importance of capacity constraints and efficiency differences-
dc.typeWorking Paperen
dc.identifier.ppn604952716en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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