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The Performance of the U.S. Market for Independent Electricity Generation

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  • G. Alan Comnes
  • Edward P. Kahn
  • Tim N. Belden

Abstract

We examine recent evidence on the economic performance of the U.S. independent electricity generation market. A sample of power purchase contracts for 26 independent power facilities is used as the basis of this assessment. The contracts were executed in various years between 1987-94. We describe qualitative features of the contracts, including dispatchability and allocation of fuel price risk. We standardize the price formulas of the contract sample and conduct a simple statistical analysis. Because of residual price variation and an indication that buyer willingness-to-pay is highly correlated with price, we conclude that bulk power sold by independent power producers is a heterogeneous product, and evidence for competition in market prices is weak.

Suggested Citation

  • G. Alan Comnes & Edward P. Kahn & Tim N. Belden, 1996. "The Performance of the U.S. Market for Independent Electricity Generation," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 23-39.
    • Handle: RePEc:aen:journl:1996v17-03-a02
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    Cited by:

    1. Tongia, Rahul & Banerjee, Rangan, 1998. "Price of power in India," Energy Policy, Elsevier, vol. 26(7), pages 557-575, June.

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    JEL classification:

    • F0 - International Economics - - General

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