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Adoption of real-time electricity pricing -- retail prices that vary hourly to reflect changing wholesale prices -- removes existing cross-subsidies to those customers that consume disproportionately more when wholesale prices are highest. If their losses are substantial, these customers are...
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Adoption of real-time electricity pricing %u2014 retail prices that vary hourly to reflect changing wholesale prices %u2014 removes existing cross-subsidies to those customers that consume disproportionately more when wholesale prices are highest. If their losses are substantial, these customers...
Persistent link: https://www.econbiz.de/10013213462
Effective competition in wholesale electricity markets is a necessary feature of a successful electricity supply industry restructuring. We examine the degree of competition in the California wholesale electricity market during the period June 1998 to September 1999 by comparing the market...
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Discussions of competition in restructured electricity markets have revealed many misunderstandings about the definition, diagnosis, and implications of market power. In this paper, I attempt to clarify the meaning of market power and show how it can be distinguished from competitive pricing in...
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