Brown, David P.; Muehlenbachs, Lucija - 2024
fact, we obtain a revealed-preference estimate of the willingness to pay for electricity reliability, the Value of Lost … Load, a key parameter for electricity market design. Our estimate, with an average of $4,980/MWh, suggests California …’s wildfire-prevention outages resulted in losses from foregone consumption of $406 million to residential electricity consumers. …