Research Report Series – ISSN 2036-1785 IEFE - Centre for Research on Energy and Environmental Economics and Policy at Bocconi University via Guglielmo Röntgen, 1 - 20136 Milano tel. 02.5836.3820 - fax 02.5836.3890 www.iefe.unibocconi.it – iefe@unibocconi.it This paper can be downloaded at www.iefe.unibocconi.it The opinions expressed herein do not necessarily reflect the position of IEFE-Bocconi. Balancing Systems and Flexibility Tools in European Gas Markets Leen Dickx , Caterina Miriello and Michele Polo Research Report n. 14 February 2014