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Market-Based Regulation of Natural Gas Pipelines

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  • Alger, Dan
  • Toman, Michael A

Abstract

We argue that some forms of market-based regulation allowed within current statutory constraints can outperform traditional rate-setting regulation now used for interstate natural gas pipelines. In particular, a resale market for pipeline capacity rights can yield efficient choices in the short term, even for a natural monopoly pipeline. We also propose applying market mechanisms to setting the pipeline's original rates. The paper reviews experimental evidence on the performance of some of the proposed rate-setting institutions and describes some specific proposals made by pipelines that are consistent with those described here. Copyright 1990 by Kluwer Academic Publishers

Suggested Citation

  • Alger, Dan & Toman, Michael A, 1990. "Market-Based Regulation of Natural Gas Pipelines," Journal of Regulatory Economics, Springer, vol. 2(3), pages 263-280, September.
    • Handle: RePEc:kap:regeco:v:2:y:1990:i:3:p:263-80
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    Cited by:

    1. Jamasb, Tooraj & Pollitt, Michael & Triebs, Thomas, 2008. "Productivity and efficiency of US gas transmission companies: A European regulatory perspective," Energy Policy, Elsevier, vol. 36(9), pages 3398-3412, September.
    2. De Vany, A. & Walls, W.D., 1994. "The Law of One Price in a Network: Arbitrage and Price Dynamics in Natural Gas City Gate Markets," Papers 93-94-17, California Irvine - School of Social Sciences.
    3. Granderson, Gerald & Linvill, Carl, 1998. "Nonparametric measurement of productive efficiency in the presence of regulation," European Journal of Operational Research, Elsevier, vol. 110(3), pages 643-657, November.
    4. Matthew Oliver & Charles Mason & David Finnoff, 2014. "Pipeline congestion and basis differentials," Journal of Regulatory Economics, Springer, vol. 46(3), pages 261-291, December.

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