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Do markets make good commissioners?: A quasi-experimental analysis of retail electric restructuring in Ohio

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  • Dormady, Noah
  • Jiang, Zhongnan
  • Hoyt, Matthew

Abstract

Empirical support for the purported benefits of retail electric deregulation is mixed at best. Prior studies that identify states as simply “retail deregulated” overlook complex policy environments in which deregulation is implemented by regulators with a high degree of discretion. Prior studies also rely on Energy Information Administration data that do not account for core regulatory interventions that can take place during the process of implementing deregulation. Using robust time series household final bill survey data from the Public Utilities Commission of Ohio, this article provides a quasi-experimental analysis of the price impacts of retail electric restructuring in Ohio. The results suggest that residential electricity prices have increased following retail restructuring in all service territories in Ohio, with significant favourable welfare effects observed only in the Cincinnati area, where key policy implementation stages were not circumvented.

Suggested Citation

  • Dormady, Noah & Jiang, Zhongnan & Hoyt, Matthew, 2019. "Do markets make good commissioners?: A quasi-experimental analysis of retail electric restructuring in Ohio," Journal of Public Policy, Cambridge University Press, vol. 39(3), pages 483-515, September.
    • Handle: RePEc:cup:jnlpup:v:39:y:2019:i:03:p:483-515_00
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    Cited by:

    1. Dormady, Noah C. & Jones, Douglas N. & Roe, Brian E. & Rub, Guy A., 2019. "An intersection of privatization and public utility regulation: The Ohio State University's energy concession agreement," Utilities Policy, Elsevier, vol. 59(C), pages 1-1.
    2. Simone Di Leo & Marta Chicca & Cinzia Daraio & Andrea Guerrini & Stefano Scarcella, 2022. "A Framework for the Analysis of the Sustainability of the Energy Retail Market," Sustainability, MDPI, vol. 14(12), pages 1-28, June.
    3. Bowen, William M. & Hill, Edward (Ned) & Thomas, Andrew & Liu, Ruoran & Henning, Mark, 2023. "Consumer price effects of deregulated electric generation markets: The case of Ohio and the midwestern United States," Utilities Policy, Elsevier, vol. 83(C).
    4. Chaiken, Benjamin & Duggan, Joseph E. & Sioshansi, Ramteen, 2021. "Paid to produce absolutely nothing? A Nash-Cournot analysis of a proposed power purchase agreement," Energy Policy, Elsevier, vol. 156(C).

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