This paper outlines the essentials of electricity market regulation in the United States and in California. It deals with the Federal laws (PUHCA, FPA, PURPA, EPAct) and with the regulatory policy of the Federal Energy Regulatory Commission (FERC) (particularly order 888, 889, and 2000)....

Hybrid governance structures between markets and hierarchies in many industries, e.g., in energy and telecommunications, challenge antitrust and regulation policy. The paper focusses on the theoretical and methodological basis provided by the New Institutional Economics (NIE) for analyzing the...

Hybrid governance structures between markets and hierarchies in many industries, e.g., in energy and telecommunications, challenge antitrust and regulation policy. The paper focusses on the theoretical and methodological basis provided by the New Institutional Economics (NIE) for analyzing the...

This paper discusses the California electricity market debacle and asks which lessons could be drawn from the Californian experience. It analyzes the market developments and depicts the reasons for the market meltdown. It is shown that the present situation in California may be only the calm...