Journal
ENERGY ECONOMICS
Volume 27, Issue 4, Pages 639-665Publisher
ELSEVIER SCIENCE BV
DOI: 10.1016/j.eneco.2005.03.007
Keywords
linear complementarity problem; natural gas; market equilibrium; game theory; optimization
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The North American natural gas market has seen significant changes recently due to deregulation and restructuring. For example, third party marketers can contract for transportation and purchase of gas to sell to end-users. While the intent was a more competitive market, the potential for market power exists. We analyze this market using a linear complementarity equilibrium model including producers, storage and peak gas operators, third party marketers and four end-use sectors. The marketers are depicted as Nash-Coumot players determining supply to meet end-use consumption, all other players are in perfect competition. Results based on National Petroleum Council scenarios are presented. (c) 2005 Elsevier B.V. All rights reserved.
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