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 …

This paper examines the relationship between spot and futures prices for a broad range of commodities, including energy … and/or (2) accurate predictor of subsequent spot prices. While energy futures prices are generally unbiased predictors of …

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 …

Electricity restructuring has created the opportunity for producers to exercise market power. Oligopolists increase … implications of production inefficiencies attributed to market power in the Pennsylvania, New Jersey, and Maryland electricity … market. Air pollution fell substantially during 1999, the year in which both electricity restructuring and new environmental …

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 …

This paper quantifies and decomposes recent trends in U.S. PM2.5 disparities from the electricity sector using a high …-resolution pollution transport model. Between 2000-2018, PM2.5 concentrations from electricity fell by 89% for the average individual, more … dramatic convergence: since 2000, the Black-White PM2.5 disparity from electricity has narrowed by 95% and the Hispanic …

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 …