Tag Archives: p.joskow

Restructuring of US Electricity Industry and FERC’s Role in Guiding the Development of Efficient Competitive Wholesale Electricity Markets

Paul Joskow

Restructuring of US Electricity Industry and FERC’s Role in Guiding the Development of Efficient Competitive Wholesale Electricity Markets
Statement before the Committee on Governmental Affairs, United States Senate

Published 12 November 2002 | Available at mit.edu mit.edu

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EP 54

Paul Joskow Transmission Policy in the United States EP 54 | Non-Technical Summary | PDF Abstract: This paper provides an overview of the development of electric power transmission access, pricing and investment policies in the U.S. over the last 15 years and evaluates the current state of those policies. It includes a discussion of pre-liberalisation… Continue Reading

EP 53

Paul Joskow, Jean Tirole Reliability and Competitive Electricity Markets EP53  | Non-Technical Summary | PDF Abstract: Deregulation of the electricity sector has resulted in conflict between the economic aims of creating competitive wholesale and retail markets, and an engineering focus on reliability of supply. The paper starts by deriving the optimal prices and investment program… Continue Reading

EP 44

Paul Joskow, Jean Tirole Retail Electricity Competition EP 44 | Non-Technical Summary | PDF Abstract: We explore the implications of load profiling of consumers whose traditional meters do not allow for measurement of their real time consumption. We find the competitive equilibrium does not support the Ramsey two-part tariff. By contrast, when consumers are billed… Continue Reading

EPRG 0511

Paul Joskow Incentive Regulation in Theory and Practice: Electricity Distribution and Transmission Networks EPRG 0511 | Non-Technical Summary | PDF Abstract: Modern theoretical principles to govern the design of incentive regulation mechanisms are reviewed and discussed. General issues associated with applying these principles in practice are identified. Examples of the actual application of incentive r… Continue Reading

EP 78

Paul Joskow Patterns of Transmission Investment EP 78  | Non-Technical Summary | PDF Abstract: This paper examines a number of issues associated with alternative analytical approaches for evaluating investments in electricity transmission infrastructure, and institutional arrangements to govern network operation, maintenance and investment. The relationships between transmission investments driven by opportunities to reduce congestion and… Continue Reading

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EP 28

Paul Joskow The Difficult Transition to Competitive Electricity Markets in the US EP 28 | Non-Technical Summary | PDF Abstract: This paper discusses the causes and consequences of state and federal initiatives to introduce wholesale and retail competition into the U.S. electricity sector from 1995. The development and performance of wholesale market institutions, the expansion… Continue Reading

EP 24

Paul Joskow, Jean Tirole Merchant Transmission Investment EP 24  | Non-Technical Summary | PDF Abstract: We examine the performance attributes of a merchant transmission investment framework that relies on ‘market driven’ transmission investment to provide the infrastructure to support competitive wholesale markets for electricity. Under a stringent set of  assumptions, the merchant investment model appears… Continue Reading

EP 02

Paul Joskow, Edward Kahn A quantitative analysis of pricing behaviour in California’s wholesale electricity market during summer 2000: the final word EP 02  | Non-Technical Summary | PDF Abstract: During the Summer of 2000, wholesale electricity prices in California were nearly 500% higher than they were during the same months in 1998 or 1999. This… Continue Reading