This paper studies the impact of a fire in 2006 which removed the possibility of access to the Rough gas storage facilities covering over 80% of total UK storage, at a time when major withdrawals from storage would have likely taken place. Implicitly, it shows the value of such gas storage facilities, in a country with relatively little storage, where we might therefore see a considerable impact. We find that the major effect on activity was through an increased sensitivity of supply to prices and an increased variance in this sensitivity, not through non-price rationing. Copyright © 2012 by the IAEE. All rights reserved.
A rough analysis: Valuing gas storage / Giulietti, M.; Grossi, L.; Waterson, M.. - In: THE ENERGY JOURNAL. - ISSN 0195-6574. - 33:4(2012), pp. 119-141. [10.5547/01956574.33.4.6]
A rough analysis: Valuing gas storage
Grossi L.;
2012-01-01
Abstract
This paper studies the impact of a fire in 2006 which removed the possibility of access to the Rough gas storage facilities covering over 80% of total UK storage, at a time when major withdrawals from storage would have likely taken place. Implicitly, it shows the value of such gas storage facilities, in a country with relatively little storage, where we might therefore see a considerable impact. We find that the major effect on activity was through an increased sensitivity of supply to prices and an increased variance in this sensitivity, not through non-price rationing. Copyright © 2012 by the IAEE. All rights reserved.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
