A rough examination of the value of gas storage
Giulietti, Monica, Grossi, Luigi and Waterson, Michael, 1950- (2011) A rough examination of the value of gas storage. Working Paper. Coventry: University of Warwick. Dept. of Economics. Warwick economics research paper series (TWERPS), Vol.2011 (No.967).
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This paper studies the impast of a fire in 2006 which removed the possibility of access to the Rough gas storage facilities covering 80% of total UK storage, at a time when major withdrawals from storage would likely have taken place. Implicitly, it shows the value of such 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 sensivity of supply to prices and an increased variance in this sensitivity, not through plysical shortages of gas.
|Item Type:||Working or Discussion Paper (Working Paper)|
|Subjects:||H Social Sciences > HB Economic Theory|
|Divisions:||Faculty of Social Sciences > Economics|
|Library of Congress Subject Headings (LCSH):||Natural gas -- Storage -- Great Britain, Natural gas -- Storage -- Economic aspects, Natural gas -- Prices|
|Series Name:||Warwick economics research paper series (TWERPS)|
|Publisher:||University of Warwick. Dept. of Economics|
|Place of Publication:||Coventry|
|Status:||Not Peer Reviewed|
|Access rights to Published version:||Open Access|
|Funder:||Italy. Ministero dell'istruzione, dell'università e della ricerca (MIUR), Economic and Social Research Council (Great Britain) (ESRC)|
|Grant number:||RES 000221686 (ESRC)|
Bjerksund, P., Stensland, G. and Vagstad, F. (2011) Gas storage valuation: Price modelling
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