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 …

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 …

and disclosure regimes, comprising venue rules and state laws beyond SEC regulation. We also exploit the institutional …

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

direct measures of marginal cost for the California electricity market to measure the extent to which estimated mark-ups and …

We simulate competitive benchmark wholesale prices for electricity in California during the summer of 2000, taking … account of changes in natural gas prices, electricity demand, and imports of electricity from other states during this time … prices for electricity. The competitive benchmark prices are then compared to actual prices. A significant fraction of the …

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 …