Cuddington, John; Wang, Zhongmin - In: Journal of Regulatory Economics 29 (2006) 2, pp. 195-210
This paper assesses the degree of market integration in the U.S. natural gas market following the FERC’s ‘open access’ reforms. Daily spot prices at 76 market locations from 1993 to 1997 are used to examine the geographic extent of the market and the speed with which market forces move...