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Vertical Arrangements, Market Structure, and Competition An Analysis of Restructured U.S. Electricity Markets
Bushnell, James B. - 2007
This paper examines vertical arrangements in electricity markets. Vertically integrated wholesalers, or those with long-term contracts, have less incentive to raise wholesale prices when retail prices are determined beforehand. For three restructured markets, we simulate prices that define...
Persistent link: https://www.econbiz.de/10012465139
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Regulation of Access, Pricing, and Planning of High Voltage Transmission in the U.S.
De Losa, Joe; Pfeifenberger, Johannes P.; Joskow, Paul L. - National Bureau of Economic Research - 2024
The U.S. regulation of high-voltage transmission is highly complex and, as a result, generally poorly understood. The complexity is created by separate, but overlapping, jurisdictional authorities of the U.S. federal regulators and those of individual states, districts, and territories. While...
Persistent link: https://www.econbiz.de/10014512108
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Collusion, Mergers, and Related Antitrust Issues
Asker, John; Nocke, Volker - National Bureau of Economic Research - 2021
research in the areas of collusion and merger enforcement. Research relating to both collusion and mergers has made significant …-based measurement) and theoretical work in advancing our understanding of collusive and merger-related phenomena …
Persistent link: https://www.econbiz.de/10012616623
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The Impact of Market Rules and Market Structure on the Price Determination Process in the England and Wales Electricity Market
Wolak, Frank A. - 2001
This paper argues that the market rules governing the operation of the England and Wales electricity market in combination with the structure of this market presents the two major generators National Power and PowerGen with opportunities to earn revenues substantially in excess of their costs of...
Persistent link: https://www.econbiz.de/10012470476
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Mergers, Deregulation and Cost Savings in the U.S. Rail Industry
Berndt, Ernst R. - 1991
undisputed. Deregulation has proceeded in three ways: (i) eased rate setting restrictions; (ii) simplified merger applications …The success of deregulation in creating a viable private rail freight system in the ?U.S. since 1979 is relatively … of deregulation on rail costs from those directly attributable to mergers and acquisitions. We employ a translog variable …
Persistent link: https://www.econbiz.de/10012475256
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California's Electricity Crisis
Joskow, Paul L. - 2001
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. It then discusses the structure of the wholesale and...
Persistent link: https://www.econbiz.de/10012470277
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The Competitive Effects of Transmission Capacity in a Deregulated Electricity Industry
Borenstein, Severin - 1997
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 capacity on competition among" generators. We show that...
Persistent link: https://www.econbiz.de/10012472520
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Do Oligopolists Pollute Less? Evidence from a Restructured Electricity Market
Mansur, Erin T. - 2007
Electricity restructuring has created the opportunity for producers to exercise market power. Oligopolists increase price by distorting output decisions, causing cross-firm production inefficiencies. This study estimates the environmental implications of production inefficiencies attributed to...
Persistent link: https://www.econbiz.de/10012465135
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Measuring Welfare in Restructured Electricity Markets
Mansur, Erin T. - 2007
Restructuring electricity markets has enabled wholesalers to exercise market power. Using a common method of measuring competitive behavior in these markets, several studies have found substantial inefficiencies. This method overstates actual welfare loss by ignoring production constraints that...
Persistent link: https://www.econbiz.de/10012465137
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Do Markets Reduce Costs? Assessing the Impact of Regulatory Restructuring on U.S. Electric Generation Efficiency
Markiewicz, Kira - 2004
While neoclassical models assume static cost-minimization by firms, agency models suggest that firms may not minimize 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...
Persistent link: https://www.econbiz.de/10012467686