Rethinking electricity deregulation

Lester B. Lave; Jay Apt; Seth Blumsack

doi:10.1016/S1040-6190(04)00104-6

Rethinking electricity deregulation

Lester B. Lave, Jay Apt, Seth Blumsack

Research output: Contribution to journal › Article › peer-review

16 Citations (SciVal)

Abstract

Proponents of free markets for electricity assert that minor fixes to the California market and to FERC's proposed Standard Market Design would generate lower prices. We disagree. Designing a competitive market that remedies the problems seen in California and other restructured markets is difficult; emulating even good ISOs like PJM will not do the job. Each one of the problems can be overcome, but the costs of doing so might make full deregulation unattractive.

Original language	English (US)
Pages (from-to)	11-26
Number of pages	16
Journal	Electricity Journal
Volume	17
Issue number	8
DOIs	https://doi.org/10.1016/S1040-6190(04)00104-6
State	Published - Oct 2004

All Science Journal Classification (ASJC) codes

Business and International Management
Energy (miscellaneous)
Management of Technology and Innovation

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10.1016/S1040-6190(04)00104-6

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title = "Rethinking electricity deregulation",

abstract = "Proponents of free markets for electricity assert that minor fixes to the California market and to FERC's proposed Standard Market Design would generate lower prices. We disagree. Designing a competitive market that remedies the problems seen in California and other restructured markets is difficult; emulating even good ISOs like PJM will not do the job. Each one of the problems can be overcome, but the costs of doing so might make full deregulation unattractive.",

author = "Lave, {Lester B.} and Jay Apt and Seth Blumsack",

note = "Funding Information: This work was supported in part by the Alfred P. Sloan Foundation, the Electric Power Research Institute, and the U.S. National Science Foundation through the Carnegie Mellon Electricity Industry Center ( www.cmu.edu/electricity ).",

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AU - Apt, Jay

AU - Blumsack, Seth

N1 - Funding Information: This work was supported in part by the Alfred P. Sloan Foundation, the Electric Power Research Institute, and the U.S. National Science Foundation through the Carnegie Mellon Electricity Industry Center ( www.cmu.edu/electricity ).

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N2 - Proponents of free markets for electricity assert that minor fixes to the California market and to FERC's proposed Standard Market Design would generate lower prices. We disagree. Designing a competitive market that remedies the problems seen in California and other restructured markets is difficult; emulating even good ISOs like PJM will not do the job. Each one of the problems can be overcome, but the costs of doing so might make full deregulation unattractive.

AB - Proponents of free markets for electricity assert that minor fixes to the California market and to FERC's proposed Standard Market Design would generate lower prices. We disagree. Designing a competitive market that remedies the problems seen in California and other restructured markets is difficult; emulating even good ISOs like PJM will not do the job. Each one of the problems can be overcome, but the costs of doing so might make full deregulation unattractive.

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Rethinking electricity deregulation

Abstract

All Science Journal Classification (ASJC) codes

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