This presentation was given by Professor Jonathan Stern at the Symposium on the European Natural Gas Market, AER/CPB/ECN, The Hague.
In the frst half of 1995 the UK gas market underwent a price shock. At the beginning of the year gas had been trading on a short-term basis in an informal telephone market at a level of around 18- 19p/therm. This was approximately in line with the average long-tenn contract prices paid by British Gas […]
Following the referral of British Gas plc. (BG) to the Monopolies and Mergers Commission (MMC) in July 1992, the MMC spent one year on a wide-ranging enquiry into the UK gas industry and has written two separate but related reports: one under the 1973 Fair Trading Act, the other under the 1986 Gas Act. The […]
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