Advocates of energy efficiency and renewable energy have long argued that such technologies can mitigate fuel price risk within a resource portfolio. Such arguments--made with renewed vigor in the wake of unprecedented natural gas price volatility during the winter of 2000/2001--have mostly been...

Electricity markets in the United States have witnessed unprecedented instability over the last few years, with substantial volatility in wholesale market prices, significant financial distress among major industry organizations, and unprecedented legal, regulatory and legislative activity....

Electricity policymakers, industry participants, analysts, and even consumers have become acutely aware of the ever-present risks that face the delivery of electricity. Recent instability in the electricity industry illustrates the need for thoughtful resource planning to balance the cost,...