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The Natural Gas MarketSixty Years of Regulation and Deregulation$
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Paul MacAvoy

Print publication date: 2001

Print ISBN-13: 9780300083811

Published to Yale Scholarship Online: October 2013

DOI: 10.12987/yale/9780300083811.001.0001

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Partial Deregulation and the Future Performance of Gas Markets

Partial Deregulation and the Future Performance of Gas Markets

(p.112) Chapter 6 Partial Deregulation and the Future Performance of Gas Markets
The Natural Gas Market

Paul W. MacAvoy

Yale University Press

This chapter examines the dynamics of gas market regulation at all levels and provides insight into the future of gas industry performance without regulation. The growth and development of the gas industry will be constrained by continued Federal Energy Regulatory Commission and state agency regulation of transportation and distribution services as such regulatory practices keep prices high, limit growth, limit transportation capacity, and limit service delivery to consumers. This is substantiated in the chapter using simulations with a supply–demand model and comparison forecasts of prices, production, and reserves based on continued regulation versus assuming complete deregulation. The chapter further emphasizes that after years of regulation and partial deregulation, at low-level performance, consumers would gain from deregulation and resulting lower prices at all levels of the industry.

Keywords:   gas market regulation, supply and demand, deregulation, consumers, partial deregulation

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