Regulating gas supply to power markets

About this book

"Natural gas, a vital primary source of energy for the twenty-first century economy, is poised to play a major role in the medium- to long term outlook of energy systems worldwide. Its supply to power markets for electricity generation and other energy purposes through the stages of exploration, production, gathering, processing, transmission, and distribution have been a key driver in gas commercialisation over the past two to three decades. This book discusses insights from law and economics pertaining to gas and energy supply contracts, regulation, and institutions. It provides an in-depth 'law-in-context' analysis of the approaches to developing competitive and secure gas to power markets in an increasingly international, interrelated, and interconnected value chain. Recognising a general move towards structural reforms and economic regulation of gas and energy markets globally, the author incisively addresses the following questions: Is there a single 'ideal' model or approach for ensuring effectiveness in the restructuring and regulation of gas supply to power markets? If not, then what constitutes the matrix of models and approaches? What are the underlying principles, assumptions, and institutional structures that will enhance the modern approaches to developing competitive, secure, and sustainable gas supply to power markets? What are the factors that determine or affect the effectiveness and efficiency of such approaches and regulatory frameworks? The book critically explores the instrumental role of regulation and organisational institutions in the restructuring and development of gas supply markets. It examines the evolution of economic approaches to regulation, competitiveness, and security of gas supply in the US and the UK. In addition, this book considers the EU as a supranational union of developed economies and Nigeria as a developing economy, in the process of applying these paradigms of economic regulation and restructuring of gas to power ma rkets"--Publisher's website.