Electric Choices Deregulation and the Future

The electricity industry, one of the largest and most vital sectors of the U.S. economy, has changed dramatically in recent years. After being heavily regulated for more than a century by authorities at all levels, deregulation is taking center stage, allowing for enormous efficiency gains. Competition and the Future of Electricity explores the difficult questions surrounding deregulation and urges Americans to continue the transition to a market-based model.

Foreword

vii

1 Introduction

1

(8)

Andrew N. Kleit

2 Can Electricity Restructuring Survive? Lessons from California and Pennsylvania

9

(30)

Timothy J. Considine and Andrew N. Kleit

3 The Role of Retail Pricing in Electricity Restructuring

39

(24)

L. Lynne Kiesling

4 Using Experiments to Inform the Privatization/Deregulation Movement in Electricity

63

(28)

Vernon L. Smith, Stephen J. Rassenti, and Bart J. Wilson

5 Electricity Industry Restructuring: The Alberta Experience

91

(22)

Terry Daniel, Joseph Doucet, and André Plourde

6 Transactions Costs and the Organization of Coordination Activities in Power Markets

113

(22)

Craig S. Pirrong

7 Market-based Transmission Investments and Competitive Electricity Markets

135

(28)

William W. Hogan

8 Preventing Monopoly or Discouraging Competition? The Perils of Price-Cost Tests for Market Power in Electricity

163

(18)

Timothy J. Brennan

9 The Role of Distributed Energy Resources in a Restructured Power Industry

181

(28)

David E. Dismukes

10 Post-Blackout Reliability Policy: A Robust, Flexible Twenty-first-century Grid

209

(20)

L. Lynne Kiesling and Michael Giberson

Index

229

(12)

About the Contributors

241

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Electric Choices Deregulation and the Future of Electric Power

Summary

Table of Contents

Supplemental Materials