thermal efficiency at state-owned power plants due to reform …

markets. Deregulation has been accompanied by substantial market consolidation and today the three largest companies control … more than one-third of all U.S. nuclear capacity. We find that deregulation and consolidation are associated with a 10 …

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 … for these constraints and apply it to the Pennsylvania, New Jersey, and Maryland market. For the summer following … restructuring, the common method implies that market imperfections resulted in considerable welfare loss, with actual production …

dramatically affect estimated market outcomes. Had regulators impeded vertical arrangements (as in California), our simulations … with vertical arrangements. We conclude that horizontal market structure accurately predicts market performance only when …

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 prices to allow the utility to recover its prudently incurred costs, a process known as cost-of-service regulation … supported by observed waxing and waning of political enthusiasm for electricity reform. While electricity restructuring has …

of lessons about electricity market liberalization gained from the recent experience in California …

costs in less-competitive or regulated environments. We test this using a transition from cost-of-service regulation to … market-oriented environments for many U.S. electric generating plants. Our estimates of input demand suggest that publicly …-owned plants, whose owners were largely insulated from these reforms, experienced the smallest efficiency gains, while investor …

In an unregulated electricity generation market, the degree to which generators in" different locations compete with … area of dominance. This" analysis is applied to a model of California's forthcoming deregulated electricity market. Our …