We study price convergence between the two major markets for wholesale electricity in California from their … understanding of the markets, however, could have delayed or prevented price convergence. We find that the two benchmark electricity …

We use demand and plant-level cost data to simulate competition in a restructured California electricity market. This …

One of the most critical concerns that customers have voiced in the debate over real-time retail electricity pricing is … that they would be exposed to risk from fluctuations in their electricity cost. The concern seems to be that a customer … very simple hedging strategies can eliminate more than 80% of the bill volatility that would otherwise occur. Far from …

daily or monthly usage rises. There is no cost basis for differentiating marginal price of electricity by consumption level … by these increasing-block electricity tariffs. I find that the rate structure does redistribute income to lower …

Adoption of real-time electricity pricing -- retail prices that vary hourly to reflect changing wholesale prices …

vary as their costs change. Yet, there is no restructured electricity market in which most retail customers can be charged … customers on time-invariant pricing in competitive electricity markets. Not only does time-invariant pricing in competitive … or subsidies on electricity or capacity are unlikely to succeed, because these interventions create new inefficiencies …

Effective competition in wholesale electricity markets is a necessary feature of a successful electricity supply … industry restructuring. We examine the degree of competition in the California wholesale electricity market during the period …

In an unregulated electricity generation market, the degree to which generators in" different locations compete with … one another depends on the capacity to transmit electricity" between the locations. We study the impact of transmission …" in spurring competition and the actual electricity that flows on the line. We then investigate the" equilibria that are …

Prior to the 1990s, most electricity customers in the U.S. were served by regulated, vertically-integrated, monopoly … utilities that handled electricity generation, transmission, local distribution and billing/collections. Regulators set retail … electricity prices to allow the utility to recover its prudently incurred costs, a process known as cost-of-service regulation …

Generating electricity from renewable sources is more expensive than conventional approaches, but reduces pollution … externalities. Analyzing the tradeoff is much more challenging than often presumed, because the value of electricity is extremely … likely to be misleading. However, other common arguments for subsidizing renewable power - green jobs, energy security and …