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 …

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 …

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

This paper discusses the political, regulatory and economic factors that led to California's electricity crisis in 2000 … and 2001. It begins with a discussion of the origins of California's electricity restructuring and competition programs … electricity crisis is then conveniently broken down into three phases: (a) May 2000 through September 2000, (b) October 2000 …

This paper presents estimates of the customer-level demand for electricity by industrial and commercial customers … purchasing electricity according to the half-hourly energy prices from the England and Wales (E&W) electricity market. These … customers also face the possibility of a demand charge on their electricity consumption during the three half-hour periods that …

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 …

residential electricity market, we document evidence of consumer inertia. We estimate an econometric model of retail choice to …