Most US consumers are charged a near-constant retail price for electricity, despite substantial hourly variation in the …-time pricing" for electricity and increase price elasticity of demand. This paper simulates the effects of this increased demand … elasticity using counterfactual simulations in a structural model of the Pennsylvania-Jersey-Maryland electricity market. The …

We report on an economic experiment that compares outcomes in electricity markets subject to carbon-tax and cap …, respectively. Across these matched pairs, the cap-and-trade mechanism produced much higher wholesale electricity prices (38.5% to … 52.6% higher) and lower total electricity production (2.5% to 4.0% lower) than the "equivalent" carbon tax, without any …

In electricity markets, generators are rewarded both for providing energy and for enabling grid reliability. The two … functions are compensated in separate markets: energy markets and ancillary services markets. We provide evidence of changes in … the fuel mix in the energy market that is driven by exogenous changes in an ancillary services market. We provide quasi …

Restructuring electricity markets has enabled wholesalers to exercise market power. Using a common method of measuring …

-efficient technology: electricity generators reduced their rate of investment in the restructured markets post restructuring. The …

This paper discusses contributions that industrial organization economists have made to our understanding of energy …--also apply to a variety of settings beyond energy and the environment. We also indicate areas where future research is likely to … be fruitful, with an emphasis on how industrial organization economists can help inform energy and environmental policies …

The energy price shock depressed real output by two percent in 1974 and by five percent in 1975, according to our … aggregate model of the U.S. economy with an explicit role of energy in production. The distinction between expected and … energy shock …

Policies supporting investment in renewable electricity have been a cornerstone of climate policy in many parts of the … renewable expansions. Focusing on the California electricity market, we estimate how wholesale electricity prices have responded …

assessing future tightness of energy demand and expected oil price pressures …

well-known "supply-shock" explanation attributes both spikes to large food and energy shocks plus, in the case of 1973 …