We investigate the impact of creating Independent System Operators (ISOs) to independently manage regional electricity transmission resources and institute regional electricity exchange markets. Our analysis examines how the formation of the PJM Independent System Operator (ISO) in Pennsylvania,...

We examine the impact on inter-regional trade in eastern U.S. electricity markets arising from the FERC-supported creation of Independent System Operators (ISOs). Our analysis focuses on the PJM ISO (Pennsylvania, New Jersey, Maryland, and other states) and its trade with the New York ISO and...