Effects of the structural change on transaction costs between North America natural gas spot markets

Duangnate, Kannika; Mjelde, James W.

doi:10.1080/00036846.2016.1203065

Cited by 3 publications

(1 citation statement)

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“…There is a big difference in the spot market natural gas price within Europe as well: due to the lack of competition, prices tend to be higher in the central and eastern part of the continent (Barnes&Bosworth 2015). Hungarian prices, and especially Hungarian industrial prices, seem to be so high compared to the OECD average because prices in NorthAmerica are much lower as a result of the shale gas revolution (Duangnate et al 2015;Horváth, 2014). In the beginning of 2015 the price of natural gas in the United States was only 41% of the average of the European OECD members, meaning that gas prices in Europe are almost 2.5 times higher.…”

Section: Figure 3 Hungarian Industrial and Household Gas Prices Compa...mentioning

confidence: 99%

Hungarian Energy Prices in an OECD Comparison

Bartha¹

2016

TMP

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The goal of the study is to assess the effect of the utility cost reductions announced by the Hungarian government in 2012 on Hungarian energy prices. The effects are discussed in an OECD comparison. It is concluded that the government price control has resulted in a 15% steeper price reduction occurring 5-7 quarters earlier, compared to other OECD countries. The price reductions saved around 202 billion HUF for Hungarian households in 2014, which was around 0.63% of the GDP. If prices are compared to the monthly average wages however, household energy prices are still high in Hungary. One of the costs of the reduction in household energy prices was an increase in energy prices for industry: the industry/household price ratio is highest among OECD countries in the case of natural gas, and third highest for electricity.

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Section: Figure 3 Hungarian Industrial and Household Gas Prices Compa...mentioning

confidence: 99%