Electricity Cost Modeling Calculations

, by Greer, Monica

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ISBN: 9781856177269 | 1856177262
Cover: Hardcover
Copyright: 8/10/2010

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A valuable guide for building and understanding more effective and accurate electricity cost models.

Preface	p. ix
Acknowledgments	p. xv
Introduction	p. 1
The Marginal Cost Pricing Doctrine	p. 2
A Brief Overview of the U.S. Electric Market	p. 3
Reducing Carbon Emissions	p. 7
Internalizing the Cost of Reducing Carbon Emissions	p. 11
Optimal Rate or Tariff Design and Tax Credits to Promote Efficient Use of Energy and a Reduction in Carbon Emissions	p. 12
Conclusion	p. 15
The Theory of Natural Monopoly	p. 17
The Natural Monopoly Conundrum	p. 17
For a Single-Output Market	p. 19
Literature Review-Economies of Scale in Generation: Single-Output Models	p. 26
For a Multiple-Output Natural Monopoly	p. 30
Electricity as a Multiple-Output Industry and Economies of Scope and Subadditivity	p. 35
Economies of Vertical Integration and Separability	p. 38
Relevant Literature Review-Vertical Integration and Separability	p. 41
Conclusion	p. 42
The U.S. Electric Markets, Structure, and Regulations	p. 43
The U.S. Electric Industry Structure	p. 43
Regulation of the Electric utility Industry	p. 64
State Regulations	p. 99
The Future of the Electric Industry	p. 106
The Economics (and Econometrics) of Cost Modeling	p. 115
The General Cost Model	p. 115
The Econometrics of Cost Modeling: An Overview	p. 118
A Brief History of Cost Models and Applications to the Electric Industry	p. 126
Appendix	p. 146
Exercises	p. 147
Case Study: Breaking up Bells	p. 149
Introduction	p. 149
The Natural Monopoly Conundrum	p. 150
Breaking up Bell: the Case of AT&T	p. 152
Economies of Vertical Integration: An Argument for Natural Monopoly?	p. 161
Parallels between Telephony and Electricity	p. 162
Lessons to Be Learned	p. 173
Conclusion	p. 177
Cost Models	p. 179
The Determination of an Appropriate Objective Function: A Brief Overview of the Literature	p. 179
Flexible Functional Forms	p. 186
Multiproduct Cost Functions	p. 196
Measures of Efficiency for Multiple-Output Models	p. 211
Chapter Conclusion	p. 215
End of Chapter Exercises: Multiple-Output Cost Models	p. 215
Appendix: Proofs	p. 216
Case Study: Can Rural Electric Cooperatives Survive in a Restructured U.S. Electric Market? An Empirical Analysis	p. 221
Abstract	p. 221
Introduction	p. 221
Literature Review	p. 225
Cost Models	p. 226
Implications for Public Policy	p. 237
Conclusion	p. 238
A Test of Vertical Economies for Non-Vertically Integrated Firms: The Case of Rural Electric Cooperatives	p. 241
Abstract	p. 241
Introduction	p. 241
Background: Rural Electric Cooperatives	p. 242
Reasons That Cooperatively Owned Utilities Are Different	p. 242
Literature Review	p. 243
Data	p. 244
Methodology	p. 246
Preliminary Results-All Coops	p. 246
Economies of Vertical Integration	p. 247
Estimation Results	p. 248
Tests for Vertical Integration	p. 249
Conclusion	p. 251
Load Forecasting-The "Demand" for Electricity	p. 253
What Is forecasting?	p. 253
Data Sources: The Energy Information Administration	p. 254
An Overview of Electricity Forecasting Models	p. 261
Load Forecasting Methodologies	p. 263
End-Use Models	p. 265
A Nested-Logit Model for Determining Heating and Cooling Choices: Example	p. 277
The Components of the EIA's AEO 2009 Model	p. 281
Efficient Pricing of Electricity	p. 283
The Debate on the Optimal Pricing of Electricity: A Brief History	p. 283
Rate Design	p. 286
The Theory of Efficient Prices	p. 291
Two-Part Tariffs	p. 299
Multipart Tariffs	p. 305
Time-of-Use Rates	p. 308
Real-Time Pricing	p. 311
Conclusion	p. 312
Exercises	p. 313
Case Study: The California Debacle (or What Not to Do)	p. 317
Introduction	p. 317
The Electricity Crisis: Summer 2000	p. 318
Chronology of the California Electricity Crisis: Lessons Learned (or What Not to Do)	p. 319
Conclusion	p. 324
Bibliography	p. 325
Index	p. 335
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Electricity Cost Modeling Calculations

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Electricity Cost Modeling Calculations

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