safeguarding investments in natural gas infrastructure

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© 2012 Transatlantic Academy. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without permission in writing from the Transatlantic Academy. Please direct inquiries to: Transatlantic Academy 1744 R Street, NW Washington, DC 20009 T 1 202 745 3886 F 1 202 265 1662 E Info@transatlanticacademy.org This publication can be downloaded for free at www.transatlanticacademy.org. Transatlantic Academy Paper Series The Transatlantic Academy Paper Series presents research on a variety of transatlantic topics by staff, fellows, and partners of the Transatlantic Academy. The views expressed here are those of the author and do not necessarily represent the views of the Transatlantic Academy. Comments from readers are welcome; reply to the mailing address above or by e-mail to Info@transatlanticacademy.org. About the Transatlantic Academy The Transatlantic Academy was created in 2007 as a partnership between the German Marshall Fund of the United States (GMF) and the ZEIT-Stiftung Ebelin und Gerd Bucerius. The Robert Bosch Stiftung and the Lynde and Harry Bradley Foundation joined as full partners beginning in 2008, and the Fritz Thyssen Foundation joined as a full partner in 2011. The Compagnia di San Paolo joined in providing additional support in May 2009, as did the Joachim Herz Stiftung and the Volkswagen Stifung in 2011. In addition, the Academy received startup funding from the Transatlantic Program of the Government of the Federal Republic of Germany through funds of the European Recovery Program (ERP) of the Federal Ministry of Economics and Technology. On the cover: Gas fields in Pennsylvania, United States © Corey Johnson
Safeguarding Investments in Natural Gas Infrastructure Lessons Learned from Regulatory Regimes in the United States and the European Union Transatlantic Academy Paper Series July 2012 Tim Boersma 1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Relations between Legislatures and Regulatory Authority . . . . . . . . . . . . . . . . . . 7 Transport Tariffs or Infrastructure Operator Revenues . . . . . . . . . . . . . . . . . . . . 9 Private and Public Ownership and Investments . . . . . . . . . . . . . . . . . . . . . . . 13 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 References. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 1 Tim Boersma is a Ph.D. Candidate University of Groningen and research fellow at the Transatlantic Academy, Washington D.C. Special thanks go to Dr. Machiel Mulder of the Dutch regulatory authority NMa, Dr. Wim Groenendijk and his team at Dutch Gasunie, Paul O’Donovan and Iain Morgan of British regulatory authority OFGEM, Brian S. White and Michael Strzelecki of the U.S. Federal Energy Regulatory Commission, and Helmut Fuβ of the German Bundesnetz Agentur. Furthermore, the comments and support of Professor Catrinus Jepma and Professor Jaap de Wilde of the University of Groningen and Geert Greving, my supervisor at Dutch GasTerra and his team have been very helpful, as always. Last but certainly not least, I would like to thank my colleagues at the Transatlantic Academy and those of the German Marshall Fund who have provided me with useful comments and feedback, while at the same time contributing to my wonderful time in the United States.
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