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Concurrence et stockage stratégique sur le marché gazier

Author

Listed:
  • Edmond Baranes

    (CREDEN - Centre de Recherche en Economie et Droit de l'ENergie - UM1 - Université Montpellier 1)

  • François Mirabel

    (CREDEN - Centre de Recherche en Economie et Droit de l'ENergie - UM1 - Université Montpellier 1)

  • Jean-Christophe Poudou

    (LAMETA - Laboratoire Montpelliérain d'Économie Théorique et Appliquée - UM1 - Université Montpellier 1 - UPVM - Université Paul-Valéry - Montpellier 3 - INRA - Institut National de la Recherche Agronomique - Montpellier SupAgro - Centre international d'études supérieures en sciences agronomiques - UM - Université de Montpellier - CNRS - Centre National de la Recherche Scientifique - Montpellier SupAgro - Institut national d’études supérieures agronomiques de Montpellier)

Abstract

[eng] This article examines the strategic role of gas storage and its regulation in an environment comprising a gas spot market. In keeping with the literature on the topic, we view storage as an instrument that a supplier uses to ensure flexibility when meeting peak demand. In that situation, there is a tradeoff between the use of storage and the use of a short-term market to meet demand. Our model’s innovative feature is the linkage between volume of gas stored and spot-market price. In some cases, stored gas enables the supplier to partially satisfy demand and so helps to lower the price on the short-term market. We show that the optimal solution may sometimes be for the regulator to allow strategic storage, particularly when there are not enough arbitrageurs in the spot market to keep it fluid. [fre] Cet article s’intéresse au rôle stratégique de l’activité de stockage du gaz et de sa régulation lorsqu’il existe un marché spot de la ressource. Dans la lignée de la littérature sur ce thème, nous envisageons l’activité de stockage comme un instrument de flexibilité pour les approvisionnements en gaz d’un opérateur qui sert la demande en période de pointe. Dans ce cas, un arbitrage est fait entre l’utilisation du stockage et le recours à un marché de court terme pour servir la demande. L’originalité de notre modèle réside dans le lien établi entre les volumes de gaz stockés et le prix sur le marché spot : dans certains cas, le gaz stocké permet de fournir une partie de la demande et contribue ainsi à faire baisser le prix sur le marché de court terme. On montre qu’il est parfois optimal pour le régulateur de permettre du stockage stratégique, notamment lorsque le nombre d’arbitragistes sur le marché spot est insuffisant (marché peu fluide).
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Edmond Baranes & François Mirabel & Jean-Christophe Poudou, 2007. "Concurrence et stockage stratégique sur le marché gazier," Post-Print hal-01811020, HAL.
    • Handle: RePEc:hal:journl:hal-01811020
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    References listed on IDEAS

    as
    1. Sébastien Mitraille, 2003. "Comportements microéconomiques de stockage et de vente à terme état de l'analyse économique," Revue d'économie politique, Dalloz, vol. 113(5), pages 649-669.
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    6. Mollgaard, H.P. & Poddar, S. & Sasaki, D., 2000. "Strategic Inventories in Two-period Oligopoly," Discussion Papers 0017, University of Exeter, Department of Economics.
    7. Poddar, Sougata & Sasaki, Dan, 2002. "The strategic benefit from advance production," European Journal of Political Economy, Elsevier, vol. 18(3), pages 579-595, September.
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    Cited by:

    1. Laure Durand-Viel, 2007. "Strategic Storage and Market Power in the Natural Gas Market," Energy and Environmental Modeling 2007 24000013, EcoMod.

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