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 …

We study price convergence between the two major markets for wholesale electricity in California from their … deregulation in April 1998 through November 2000, nearly the end of trading in one market. We would expect profit … 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 …-south transmission line, exacerbates the market power potential in northern California. While these results make deregulation of … generation less attractive than if there were no market power, they do not suggest that deregulation would be a mistake. Nearly …

In electricity markets, generators are rewarded both for providing energy and for enabling grid reliability. The two …

following state-level legislation that ended cost-of-service regulation of electricity generation. I find that deregulated … techniques relative to matched plants that were not subject to any regulatory change. Deregulation also led to a shift toward …

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 …

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

This paper examines vertical arrangements in electricity markets. Vertically integrated wholesalers, or those with long …

" in spurring competition and the actual electricity that flows on the line. We then investigate the" equilibria that are …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 …