We simulate competitive benchmark wholesale prices for electricity in California during the summer of 2000, taking account of changes in gas prices, demand, and imports during this time period. We also examine the impact of changes in the prices of NOx emissions permits on the competitive...

We simulate competitive benchmark wholesale prices for electricity in California during the summer of 2000, taking account of changes in natural gas prices, electricity demand, and imports of electricity from other states during this time period. We also examine the impact of changes in the...

We consider a supply function equilibrium (SFE) model of interaction in an electricity market. We assume a linear demand function and consider a competitive fringe and several strategic players having capacity limits and affine marginal costs. The choice of SFE over Cournot equilibrium and other...

Hogan (1993) has proposed a version of marginal cost pricing for electricity transmission transactions that include a component for reactive power to support voltage at demand nodes. His examples support the notion that the cost of satisfying voltage constraints can be quite high. We show that...

We characterize the cost function for electric power transmission. It is complex and non-linear, exhibiting scale economies over its range. The social planning problem for network transmission expansion is illustrated with a simple numerical example. The regulatory problem for joint generation...

A variety of circumstances have focused attention in the electricity industry on the large-scale development of renewable energy generation. The motivations for this attention include concerns about the environmental effects of fossil fuel generation as well as the dependence of electricity...