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 … for significant market power in high demand hours. During some months, congestion over Path 15, the primary in-state north …-south transmission line, exacerbates the market power potential in northern California. While these results make deregulation of …

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 the day that prices skyrocket and thus receive a monthly bill far …

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 … area of dominance. This" analysis is applied to a model of California's forthcoming deregulated electricity market. Our …

Adoption of real-time electricity pricing %u2014 retail prices that vary hourly to reflect changing wholesale prices %u …2014 removes existing cross-subsidies to those customers that consume disproportionately more when wholesale prices are …

daily or monthly usage rises. There is no cost basis for differentiating marginal price of electricity by consumption level … by these increasing-block electricity tariffs. I find that the rate structure does redistribute income to lower …

necessary step in pricing polluting goods at their social marginal cost (SMC). Retail electricity prices, however, deviate from … cause prices to be too high—such as recovery of fixed costs. Furthermore, because electricity is not storable, marginal cost … study the relationship between residential electricity prices and social marginal cost in the US, both on average and over …