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

. It then discusses the structure of the wholesale and retail markets and associated transition institutions created in … 1996-98 and the performance of these institutions during their first two years of operation. The discussion of the … of lessons about electricity market liberalization gained from the recent experience in California …

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 …

costs in less-competitive or regulated environments. We test this using a transition from cost-of-service regulation to …

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 …

regulation took effect. I find that strategic firms reduced their emissions by approximately 20% relative to other firms and …