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| Author: | Farmer, R. D. Tseng, P. |
| Title: | Higher old gas prices and the staged deregulation of the US gas industry. |
| Journal: | Energy Policy
1989 : DEC, VOL. 17:6, p. 567-576 |
| Index terms: | NATURAL GAS PRICING REGULATIONS |
| Language: | eng |
| Abstract: | By establishing a sufficiently higher ceiling for old-gas prices, the Federal Energy Regulatory Commission effectively took an important step towards completing the total deregulation of gas pricing and toward fostering competition at all levels of the gas industry. The Commission issued Order 451 in an effort to facilitate the convergence of prices for the various Natural Gas Policy Act categories and thereby eliminate allocative inefficiencies attributable to the misleading market signals being sent to producers and consumers alike by the average cost pricing system. To address the question how ceilings affect the market, an analysis of the effects of the Order is presented. |
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