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The U.S. Electricity Industry after 20 Years of Restructuring
Borenstein, Severin - 2015
electricity prices to allow the utility to recover its prudently incurred costs, a process known as cost-of-service regulation …
Persistent link: https://www.econbiz.de/10013023689
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The Competitive Effects of Transmission Capacity in a Deregulated Electricity Industry
Borenstein, Severin; Bushnell, James; Stoft, Steven - 2021
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 capacity on competition among" generators. We show that...
Persistent link: https://www.econbiz.de/10013240555
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The Regulation of Entry
Djankov, Simeon; La Porta, Rafael; López-de-Silanes, … - C.E.P.R. Discussion Papers - 2001
We present new data on the regulation of entry of start-up firms in 85 countries. The data covers the number of … are extremely high in most countries. Countries with heavier regulation of entry have higher corruption and larger … have lighter regulation of entry. The evidence is inconsistent with public interest theories of regulation, but supports …
Persistent link: https://www.econbiz.de/10005661441
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Product Variety and Welfare under Discriminatory and Mill Pricing Policies
Norman, George; Thisse, Jacques-François - C.E.P.R. Discussion Papers - 1994
We re-examine the economic justification for the regulation of firms' spatial price policies. Existing analysis, by …
Persistent link: https://www.econbiz.de/10005136598
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The Private and Public Economics of Renewable Electricity Generation
Borenstein, Severin - 2011
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 dependent on the time and location at which it is...
Persistent link: https://www.econbiz.de/10013117204
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Customer Risk from Real-Time Retail Electricity Pricing : Bill Volatility and Hedgability
Borenstein, Severin - 2010
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 could find itself consuming a large quantity of power on...
Persistent link: https://www.econbiz.de/10012760642
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Trading Inefficiencies in California'S Electricity Markets
Borenstein, Severin; Bushnell, James; Knittel, … - 2021
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-maximizing traders to have eliminated persistent price differences between...
Persistent link: https://www.econbiz.de/10013218707
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On the Efficiency of Competitive Electricity Markets with Time-Invariant Retail Prices
Borenstein, Severin; Holland, Stephen P. - 2021
The standard economic model of efficient competitive markets relies on the ability of sellers to charge prices that vary as their costs change. Yet, there is no restructured electricity market in which most retail customers can be charged realtime prices (RTP), prices that can change as...
Persistent link: https://www.econbiz.de/10013247631
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Wealth Transfers from Implementing Real-Time Retail Electricity Pricing
Borenstein, Severin - 2021
Adoption of real-time electricity pricing %u2014 retail prices that vary hourly to reflect changing wholesale prices %u2014 removes existing cross-subsidies to those customers that consume disproportionately more when wholesale prices are highest. If their losses are substantial, these customers...
Persistent link: https://www.econbiz.de/10013213462
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An Empirical Analysis of the Potential for Market Power in California'S Electricity Industry
Borenstein, Severin; Bushnell, James - 2021
We use demand and plant-level cost data to simulate competition in a restructured California electricity market. This approach recognizes that firms might have an incentive to restrict output in order to raise price and enables us to explicitly analyze each firm's ability to do so. We find that,...
Persistent link: https://www.econbiz.de/10013214593