March 30: Tutorial - European Natural Gas, Towards a Competitive Market
Location: New York
Author:
Date: Wednesday, March 30, 2005
Best selling author and recognized energy risk advisor Peter Fusaro has released his second book, Energy Derivatives: Trading Emerging Markets, to RiskCenter to sell in electronic form with individual chapters available for purchase.
The book is the second primer on energy market risk management developments, and is meant as a companion piece to Energy Risk Management (Fusaro, McGraw-Hill, 1998). We now offer chapter two of that book: Electricity Trading in Europe and North America. We hope that you find this 6 page section helpful to educating yourself about some of the aspects of energy trading.
Abstract
The structure of European natural gas markets, like electricity, is undergoing a process of change. For some this represents a revolutionary process of reform while for others it is an evolutionary process. European Union (EU) legislation is forcing many countries to break up state monopolies and introduce at least a degree of competition into their domestic markets. As a result of legislation the hope is that competition will extend internationally with the ultimate end result of lower consumer prices while ensuring security of supply is maintained.
The benefit of experience in opening up the European electricity market will clearly assist the gas market. If the successful UK model is adopted within the remaining EU Member states then there is real potential for a robust convergent gas / electric market. As European natural gas moves towards a competitive market, what are the key issues and challenges? Read this chapter about the driving forces that are shaping the European natural gas market development today.
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Source: Peter Fusaro
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