The European Natural Gas Market Reforms Revisited: Differentiating between Regulatory Output and Outcome
Abstract
:1. Introduction
2. Assessing the European Gas Market Regulation: A Brief Literature Review
3. Materials and Methods
3.1. Our Model
3.2. Data and Method
4. Results
4.1. Natural Gas Price Convergence between 1998 and 2013
4.2. Effects of Natural Gas Regulation on the Market Structure
4.3. Effects of the Market Structure on the Natural Gas Price
5. Conclusions
Acknowledgments
Author Contributions
Conflicts of Interest
Appendix A
Variable | Operationalization | Source |
---|---|---|
Regulation—The Implementation of the Gas Directives: | ||
market opening | Percentage of the retail market open to consumers | OECD Sector Regulation Database NMR; Conway and Nicoletti 2006; SEC(2003) 448, SEC(2004)1720, SEC(2009)287, CEER (2008) |
third party access | 0: regulated TPA, 3: negotiated TPA, 6: no TPA | OECD Sector Regulation Database NMR; Conway and Nicoletti 2006 |
unbundling provisions | 0: ownership unbundling, 3: legal unbundling, 4.5: accounting unbundling, 6: no separation; unweighted mean of five sectors (production, import, transmission, distribution, supply of natural gas) | OECD Sector Regulation Database NMR; Conway and Nicoletti 2006 |
dispute settlement | Year of establishment of a regulatory agency; 0: no regulatory agency, 1: regulatory agency exists | Jordana et al. 2011 |
Market Structure Characteristics | ||
import and production: number of (main) entities bringing natural gas into the country | Entities are considered as “main” if they deal with at least 5% of the natural gas indigenous production or imports. | Eurostat 2015: Natural gas market indicators. |
import and production: market share of the largest entity | Market share of the largest entity bringing natural gas into the country, in % | Eurostat 2015: Natural gas market indicators. |
retail: number of (main) natural gas retailers. | Retailers are considered as “main” if they sell at least 5% of the total natural gas consumed by final customers. | Eurostat 2015: Natural gas market indicators. |
retail: market share of the largest natural gas retailer. | Market share of the largest natural gas retailer, in % | Eurostat 2015: Natural gas market indicators. |
Price Data | ||
gas price for industrial consumers | Gas prices for industrial consumers excluding taxes, in Euro | Eurostat Database |
gas price for households | Gas prices for households excluding taxes, in Euro | Eurostat Database |
Control Variables | ||
economic growth | Change of real GDP, in % | OECD Economic Outlook |
crude oil price | Crude oil price in US-Dollars per barrel | BP 2014: Statistical Review of World Energy |
gas imports p.c. | Gas imports per capita, in Gross calorific value(GCV) | Eurostat Database |
gas production p.c. | Gas production per capita, in Gross calorific value(GCV) | Eurostat Database |
import dependency | Share of total gas imports on total gas consumption | Eurostat Database |
inflation | Change of consumer price index, in % | Eurostat Database |
gas consumption | Gas consumption in % of total energy consumption | Eurostat Database |
References
- Banks, Ferdinand E. 2015. Energy and Economic Theory. Hackensack: World Scientific Publishing Company, ISBN 978-981-4366-10-6. [Google Scholar]
- Baumgartner, Frank R. 2001. Agendas: Political. In International Encyclopedia of the Social & Behavioral Sciences. Edited by Neil J. Smelser and Paul B. Baltes. Amsterdam: Elsevier, pp. 288–90. ISBN 978-0-08-043076-8. [Google Scholar]
- Beck, Nathaniel, and Jonathan N. Katz. 1995. What To Do (and Not to Do) with Time-Series Cross-Section Data. American Political Science Review 89: 634–47. [Google Scholar] [CrossRef]
- Brau, Rinaldo, Raffaele Doronzo, Carlo V. Fiorio, and Massimo Florio. 2010. EU Gas Industry Reforms and Consumers’ Prices. The Energy Journal 31: 167–82. [Google Scholar] [CrossRef]
- British Petroleum. 2014. Statistical Review of World Energy. Available online: https://www.bp.com/content/dam/bp-country/de_de/PDFs/brochures/BP-statistical-review-of-world-energy-2014-full-report.pdf (accessed on 6 March 2017).
- Buchan, David, and Malcolm Keay. 2016. Europe’s Long Energy Journey: Towards an Energy Union? Oxford: Oxford University Press, ISBN 978-0-19-875330-8. [Google Scholar]
- Cameron, Peter D. 2005. Legal Aspects of EU Energy Regulation: Implementing the New Directives on Electricity and Gas across Europe. Oxford: Oxford University Press, ISBN-13: 978-019927963. [Google Scholar]
- Cameron, Peter D. 2007. Competition in Energy Markets: Law and Regulation in the European Union. Oxford: Oxford University Press, ISBN-13: 978-019928297. [Google Scholar]
- Conway, Paul, and Giuseppe Nicoletti. 2006. Product Market Regulation in the Non-Manufacturing Sectors of OECD Countries: Measurements and Highlights; OECD Economics Department Working Paper no. 530. Paris: OECD. Available online: http://www.oecd.org/officialdocuments/publicdisplaydocumentpdf/?doclanguage=en&cote=eco/wkp(2006)58 (accessed on 6 March 2017).
- Copenhagen Economics. 2005a. Market Opening in Network Industries. Part I: Final Report. Report for European Commission DG Internal Market. Luxembourg: European Commission, September. [Google Scholar]
- Copenhagen Economics. 2005b. Market Opening in Network Industries. Part II: Sectoral Analyses. Report for European Commission DG Internal Market. Luxembourg: European Commission, September. [Google Scholar]
- Crisp, James. 2015. Joint Gas Buying on EU leaders’ Summit Agenda. EURACTIV. March 4. Available online: http://www.euractiv.com/section/europe-s-east/news/joint-gas-buying-on-eu-leaders-summit-agenda/ (accessed on 6 March 2017).
- Eberlein, Burkard. 2012. Inching Towards a Common Energy Policy: Entrepreneurship, Incrementalism, and Windows of Opportunity. In Constructing a Policy-Making State? Policy Dynamics in the EU. Edited by Jeremy Richardson. Oxford: Oxford University Press, pp. 147–69, ISBN-13: 978-0199604104. [Google Scholar]
- European Commission. 1968. First Guidelines for a Community Energy Policy. Memorandum Presented by the Commission to the Council on 18 December 1968. COM(68)1040. Available online: http://aei.pitt.edu/5134/1/5134.pdf (accessed on 28 February 2018).
- European Commission. 1988a. Europe 1992. The Overall Challenge. SEC(88)524 final. Available online: http://aei.pitt.edu/3813/1/3813.pdf (accessed on 28 February 2018).
- European Commission. 1988b. The Internal Energy Market. Commission Working Document. COM(88)238 final. Available online: http://aei.pitt.edu/4037/1/4037.pdf (accessed on 28 February 2018).
- European Commission. 2007. An Energy Policy for Europe. Communication from the Commission to the European Council and the European Parliament. COM(2007)1 final. Available online: http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A52007DC0001 (accessed on 28 February 2018).
- European Commission. 2015. A Framework Strategy for a Resilient Energy Union with a Forward-Looking Climate Change Policy. Communication from the Commission to the European Parliament, the Council, the Economic and Social Committee, The Committee of the Regions and the European Investment Bank. COM(2015)80 final. Available online: http://eur-lex.europa.eu/legal-content/en/TXT/?uri=COM%3A2015%3A80%3AFIN (accessed on 28 February 2018).
- European Council. 2000. Lisbon European Council 23 and 24 March 2000. Presidency Conclusions. Available online: http://www.europarl.europa.eu/summits/lis1_en.htm (accessed on 28 February 2018).
- European Parliament. 2014. Written Questions by Members of the European Parliament and their Answers Given by a European Union Institution, E-003796/14 by Gaston Franco to the Commission, Official Journal 57, 2 October 2014. Available online: http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ%3AJOC_2014_346_R_0001 (accessed on 28 February 2018).
- European Parliament and Council of Ministers. 1998. Directive 98/30/EC of the European Parliament and of the Council of 22 June 1998 concerning common rules for the internal market in natural gas. Official Journal L 204, 21/07/1998. 1–12. [Google Scholar]
- European Parliament and Council of Ministers. 2003. Directive 2003/55/EC of the European Parliament and of the Council of 26 June 2003 concerning common Rules for the Internal Market in Natural Gas and Repealing Directive 98/30/EC. Official Journal L 176, 15/07/2003. 57–78. [Google Scholar]
- European Parliament and Council of Ministers. 2009. Directive 2009/73/EC of the European Parliament and of the Council of 13 July 2009 Concerning Common Rules for the Internal Market in Natural Gas and Repealing Directive 2003/55/EC. Official Journal L 211, 14/08/2009. 94–136. [Google Scholar]
- Eurostat. 2014. European Energy Statistics: Quantities. Available online: http://ec.europa.eu/eurostat/web/energy/data/main-tables (accessed on 12 February 2014).
- Eurostat. 2015. EuropeanEnergy Statistics: Quantities. Available online: http://ec.europa.eu/eurostat/web/%20energy/data/main-tables (accessed on 10 June 2015).
- Gorton, Matthew, Carmen Hubbard, and Lionel Hubbard. 2009. The folly of European Union policy transfer: why the Common Agricultural Policy (CAP) does not fit Central and Eastern Europe. Regional Studies 43: 1305–17. [Google Scholar] [CrossRef]
- Growitsch, Christian, and Marcus Stronzik. 2014. Ownership Unbundling of Natural Gas Transmission Networks: Empirical Evidence. Journal of Regulatory Economics 46: 207–25. [Google Scholar] [CrossRef]
- Grunwald, Jürgen. 2003. Das Energierecht der Europäischen Gemeinschaften: EGKS-EURATOM-EG. Grundlagen-Geschichte-Geltende Regelungen. Berlin: Walter de Gruyter, ISBN-13: 978-3899490787. [Google Scholar]
- Haase, Nadine, and Hans Bressers. 2010. New Market Designs and their Effect on Economic Performance in European Union’s Natural Gas Markets. Competition and Regulation in Network Industries 11: 176–206. [Google Scholar] [CrossRef]
- Heinelt, Hubert. 2007. Do Policies Determine Politics? In Handbook of Public Policy Analysis: Theory, Politics, and Methods. Edited by Frank Fischer, Gerald J. Miller and Mara S. Sidney. Boca Raton: CRC Press, pp. 109–19, ISBN-13: 978-1574445619. [Google Scholar]
- Herweg, Nicole. 2015. Against All Odds: The Liberalisation of the European Natural Gas Market. A Multiple Streams Perspective. In Energy Policy Making in the EU. Edited by Tosun Jale, Sophie Biesenbender and Kai Schulze. London: Springer, pp. 87–105. ISBN 9781447166443. [Google Scholar]
- Iversen, Torben, and Thomas R. Cusack. 2000. The Causes of Welfare State Expansion: Deindustrialization or Globalization? World Politics 52: 313–49. [Google Scholar] [CrossRef]
- Jamasb, Tooraj, and Michael Pollitt. 2005. Electricity Market Reform in the European Union: Review of Progress toward Liberalization & Integration. The Energy Journal 26: 11–41. [Google Scholar]
- Johnston, Angus, and Guy Block. 2012. EU Energy Law. Oxford: Oxford University Press, ISBN 9780199665242. [Google Scholar]
- Jordana, Jacint, David Levi-Faur, and Xavier Fernández i Marín. 2011. The Global Diffusion of Regulatory Agencies: Channels of Transfer and Stages of Diffusion. Comparative Political Studies 44: 1343–69. [Google Scholar] [CrossRef]
- Knill, Christoph, Kai Schulze, and Jale Tosun. 2012. Regulatory Policy Outputs and Impacts: Exploring a Complex Relationship. Regulation & Governance 6: 427–44. [Google Scholar] [CrossRef]
- Lowi, Theodore J. 1972. Four Systems of Policy, Politics, and Choice. Public Administration Review 32: 298–310. [Google Scholar] [CrossRef]
- Neumann, Anne, Boriss Siliverstovs, and Christian von Hirschhausen. 2006. Convergence of European Spot Market Prices for Natural Gas? A Real-Time Analysis of Market Integration using the Kalman Filter. Applied Economics Letters 13: 727–32. [Google Scholar] [CrossRef]
- Nylander, Johan. 2001. The Construction of a Market. A Frame Analysis of the Liberalization of the Electricity Market in the European Union. European Societies 3: 289–314. [Google Scholar] [CrossRef]
- Padgett, Stephen. 1992. The Single European Energy Market: The Politics of Realization. Journal of Common Market Studies 30: 53–76. [Google Scholar] [CrossRef]
- Pelkmans, Jacques. 2010. Product Market Reforms in EU Countries: Are the Methodology and Evidence Sufficiently Robust? Brussels: CEPS Working Document, ISBN 978-94-6138-040-1. [Google Scholar]
- Prontera, Andrea. 2009. Energy Policy: Concepts, Actors, Instruments and Recent Developments. World Political Science Review 5: 1–30. [Google Scholar] [CrossRef] [Green Version]
- Robinson, Terry. 2007. Have European Gas Prices Converged? Energy Policy 35: 2347–51. [Google Scholar] [CrossRef]
- Sandoval, Israel S., and Francesc Morata. 2012. Introduction: The Re-Evolution of Energy Policy in Europe. In European Energy Policy: An Environmental Approach. Edited by Sandoval I.S. and Francesc Morata. Cheltenham and Northampton: Edward Elgar, pp. 1–22. [Google Scholar] [CrossRef]
- Sovacool, Benjamin K. 2014. What Are We Doing Here? Analyzing Fifteen Years of Energy Scholarship and Proposing a Social Science Research Agenda. Energy Research & Social Science 1: 1–29. [Google Scholar] [CrossRef]
- Stern, Jonathan. 2014. International Gas Pricing in Europe and Asia: A Crisis of Fundamentals. Energy Policy 64: 43–48. [Google Scholar] [CrossRef]
- Tosun, Jale, Sophie Biesenbender, and Kai Schulze. 2015. Building the EU’s Energy Policy Agenda: An Introduction. In Energy Policy Making in the EU. Edited by Tosun Jale, Sophie Biesenbender and Kai Schulze. London: Springer, pp. 1–17. ISBN 9781447166443. [Google Scholar]
- Wright, Philip. 2006. Gas Prices in the UK: Markets and Insecurity of Supply. Oxford: Oxford University Press, ISBN 0-19-929965-X. [Google Scholar]
- Zielonka, Jan. 2007. Plurilateral Governance in the Enlarged European Union. Journal of Common Market Studies 45: 187–209. [Google Scholar] [CrossRef]
1 | The political agenda is defined as “the set of issues that are the subject of decision making and debate within a given political system at any one time” (Baumgartner 2001, p. 288). |
2 | Figure 1 shows the share of natural gas consumption at the gross inland energy consumption in percent. Note that there are missing data for EU15 (regarding Luxembourg) and for EU28 (regarding Estonia, Croatia, Cyprus, Latvia, Luxembourg, Slovenia, and Malta). However, since these member states’ share of natural gas consumption on the EU15’s and EU28’s natural gas consumption can be neglected with on average 0.3% (EU15) and 1.6% (EU28), respectively, for the time span between 1990 to 2012, this has no impact on the reported consumption trend (percentage calculated Eurostat 2014). Source: Own calculation based on British Petroleum (2014). |
3 | Overall, 18.6% of the electricity was produced by gas (including natural gas and derived gases) in 2012 (see Eurostat 2015). |
4 | Figure 2 shows the natural gas import dependency in percent. It is calculated as the ratio of net natural gas imports to gross inland consumption of natural gas, whereby the net natural gas imports are the difference of natural gas imports minus exports minus stock changes. Due to data restrictions, the numbers reported cover only the time frame from 1990 to 2012. However, since the natural gas era started in the 1960s, the reported shares must have a positive slope for the time before the 1990s. Source: Own calculation based on Eurostat (2014). |
5 | Regarding our research design, Pearson correlation coefficients between the regulation and market structure variables do not exceed 0.6. |
6 | The analysis included as MOM: (1) unbundling of transmission system operators; (2) unbundling of distribution system operators; (3) ownership of supply companies; (4) third party access to transmission networks; (5) third party access to distribution networks; (6) third party access to gas storage capacity; (7) tariff structure in transmission pricing; (8) regulation of end-user price; and (9) degree of free choice of supplier in the retail market (Copenhagen Economics 2005b, pp. 245–46). |
7 | The gas directives cover more aspects than these (for instance, regarding public service obligation). However, a detailed analysis of their contents goes beyond the scope of this article. |
8 | Descriptive statistics of the regulation and market structure variables are available on demand. |
9 | Note that, apart from a pro-competitive regulation, converged natural gas prices also require that sufficient transport capacity between all regional markets is available. However, natural gas markets in the EU are still not fully interconnected (COM(2015)89 final). Thus, the high and increasing standard deviation can only partially be explained by the uncompetitive state of these markets. Put differently, for natural gas prices to fully converge, interconnectedness, transport capacity, and a pro-competitive regulation must be given (Neumann et al. 2006, who showed that the spot market prices for natural gas at the United Kingdom’s Natural Balance Point converged with those at Belgium’s spot market in Zeebrugge due to the Interconnector). |
10 | We also tested for the impact of economic growth, inflation, domestic per capita gas production, and natural gas consumption compared to other energy sources, but these control variables were insignificant in all models. Furthermore, the models shown in this article only use the number of (main) companies as independent variables because the third indicator of market structure characteristics—the market share of the largest company—would halve the number of observation. However, models using market share data do not yield significantly differing results. |
Provisions | 98/30/EC | 2003/55/EC | 2009/73/EC |
---|---|---|---|
Date of transposition | 10 August 2000 | 01 July 2004 | 03 March 2011 |
Market opening |
|
| |
Third party access | Negotiated or regulated access | Regulated access | |
Unbundling provisions | Account unbundling | Functional and legal unbundling of DSO and TSO | Ownership unbundling, ISO, ITSO |
Dispute resolution | Competent authority | Single independent NRA |
Dependent Variable (DV): Market Structure (Upstream Sector) | |||
---|---|---|---|
Effect on the DV Number of Companies: | Effect on the DV Number of Main Companies: | Effect on the DV Market Share (Largest Company): | |
market opening (%) | 2003 1: +0.571 * 2008 3: +0.370 2013: – | 2003 1: +0.604 ** 2008 3: +0.389 2013: – | 2003 1: n.a. 2008 3: −0.452 2013: – |
TPA (third party access) | 2003 3: −0.329 2008 3: −0.235 2013 2: −0.290 | 2003 3: −0.290 2008 3: −0.238 2013 2: −0.428 | 2003 3: n.a. 2008 3: +0.272 2013 2: +0.372 |
vertical integration | 2003 3: −0.155 2008 3: −0.354 2013 2: +0.050 | 2003 3: −0.349 2008 3: −0.605 ** 2013 2: −0.351 | 2003 3: n.a. 2008 3: +0.597 * 2013 2: +0.350 |
dispute regulation (dummy) | 2003 2: −0.190 2008: – 2013: – | 2003 2: −0.149 2008: – 2013: – | 2003 2: n.a. 2008: – 2013: – |
Dependent Variable: Market Structure (Downstream Sector) | |||
---|---|---|---|
Effect on the Number of Companies: | Effect on the Number of Main Companies: | Effect on Market Share (Largest Company): | |
market opening (%) | 2003 1: +0.427 2008 3: +0.164 2013 2: +0.129 | 2003 1: −0.103 2008 3: +0.446 * 2013: – | 2003 1: n.a. 2008 3: −0.548 * 2013: – |
TPA (third party access) | 2003 3: −0.001 2008 3: −0.088 2013 2: −0.094 | 2003 3: −0.342 2008 3: −0.445 * 2013 2: −0.529 * | 2003 3: n.a. 2008 3: +0.488 2013 2: +0.776 ** |
vertical integration | 2003 3: +0.161 2008 3: +0.157 2013 2: +0.170 | 2003 3: −0.421 2008 3: −0.596 ** 2013 2: −0.602 ** | 2003 3: n.a. 2008 3: +0.089 2013 2: +0.311 |
dispute regulation (dummy) | 2003 2: −0.537 ** 2008: – 2013: – | 2003 2: +0.537 ** 2008: – 2013: – | 2003 2: n.a. 2008: – 2013: – |
Basic Model | Model I | Model II | Model III | Model IV | |
---|---|---|---|---|---|
constant | 4.486 *** (0.622) | 5.007 *** (0.587) | 4.961 *** (0.650) | 5.322 *** (0.938) | 3.989 *** (0.834) |
gas price industry (t − 1) | −0.619 *** (0.080) | −0.709 *** (0.059) | −0.677 *** (0.084) | −0.663 *** (0.109) | −0.621 *** (0.064) |
crude oil price (t − 1) | 0.034 *** (0.007) | 0.043 *** (0.006) | 0.040 *** (0.008) | 0.038 *** (0.009) | 0.033 *** (0.007) |
∆ crude oil price (t − 1) | −0.002 (0.004) | −0.006 (0.004) | −0.004 (0.004) | −0.003 (0.006) | −0.000 (0.004) |
gas imports (p.c.) (t − 1) | −36.732 *** (10.514) | −46.167 *** (9.515) | −43.631 *** (12.105) | −41.568 *** (11.825) | −34.676 *** (12.897) |
∆ gas imports (p.c.) (t − 1) | 3.321 (12.675) | 5.570 (18.239) | 6.968 (18.542) | 9.960 (14.378) | 1.380 (13.015) |
number of companies (import/production) (t − 1) | – | 0.005 (0.013) | – | – | – |
∆ number of companies (import/production) (t − 1) | – | −0.051 (0.029) | – | – | – |
number of main companies (import/production) (t − 1) | – | – | −0.033 (0.177) | – | – |
∆ number of main companies (import/production) (t − 1) | – | – | 0.034 (0.105) | – | – |
number of companies (retail) (t − 1) | – | – | – | −0.006 ** (0.002) | – |
∆ number of companies (retail) (t − 1) | – | – | – | 0.000 (0.002) | – |
number of main companies (retail) (t − 1) | – | – | – | – | 0.135 (0.123) |
∆ number of main companies (retail) (t − 1) | – | – | – | – | −0.078 (0.078) |
N | 124 | 112 | 112 | 123 | 119 |
R² | 0.700 | 0.750 | 0.735 | 0.714 | 0.711 |
Basic Model | Model I | Model II | Model III | Model IV | |
---|---|---|---|---|---|
constant | 4.294 *** (0.620) | 4.794 *** (0.633) | 4.418 *** (0.624) | 5.396 *** (0.853) | 4.762 *** (0.611) |
gas price households (t − 1) | −0.578 *** (0.158) | −0.728 *** (0.125) | −0.725 *** (0.125) | −0.622 *** (0.173) | −0.674 *** (0.124) |
crude oil price (t − 1) | 0.047 ** (0.020) | 0.065 *** (0.156) | 0.062 *** (0.016) | 0.052 ** (0.021) | 0.054 *** (0.016) |
∆ crude oil price (t − 1) | −0.002 (0.009) | −0.009 (0.009) | −0.008 (0.009) | −0.004 (0.009) | −0.006 (0.008) |
number of companies (import/production) (t − 1) | – | 0.016 (0.015) | – | – | – |
∆ number of companies (import/production) (t − 1) | – | −0.031 (0.038) | – | – | – |
number of main companies (import/production) (t − 1) | – | – | 0.235 (0.143) | – | – |
∆ number of main companies (import/production) (t − 1) | – | – | −0.190 (0.152) | – | – |
number of companies (retail) (t − 1) | – | – | – | −0.009 *** (0.002) | – |
∆ number of companies (retail) (t − 1) | – | – | – | 0.006 ** (0.002) | – |
number of main companies (retail) (t − 1) | – | – | – | – | 0.042 (0.127) |
∆ number of main companies (retail) (t − 1) | – | – | – | – | −0.102 (0.081) |
N | 118 | 106 | 106 | 117 | 113 |
R2 | 0.525 | 0.610 | 0.613 | 0.540 | 0.561 |
© 2018 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/).
Share and Cite
Herweg, N.; Wurster, S.; Dümig, K. The European Natural Gas Market Reforms Revisited: Differentiating between Regulatory Output and Outcome. Soc. Sci. 2018, 7, 57. https://doi.org/10.3390/socsci7040057
Herweg N, Wurster S, Dümig K. The European Natural Gas Market Reforms Revisited: Differentiating between Regulatory Output and Outcome. Social Sciences. 2018; 7(4):57. https://doi.org/10.3390/socsci7040057
Chicago/Turabian StyleHerweg, Nicole, Stefan Wurster, and Kathrin Dümig. 2018. "The European Natural Gas Market Reforms Revisited: Differentiating between Regulatory Output and Outcome" Social Sciences 7, no. 4: 57. https://doi.org/10.3390/socsci7040057