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Implementing Electricity Restructuring

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  • Timothy Brennan
  • Karen Palmer
  • Salvador Martinez

Abstract

Electricity is one of the last U.S.industries in which competition is replacingregulation. We briefly review the technologyfor producing and delivering power, the historyof electricity policy, and recent state andinternational experience. We then outline themajor questions facing policymakers as theydecide whether, when, and how to implementrestructuring. We conclude with some thoughtson the California electricity crisis and otherpolitical controversies. Although theCalifornia experience has come to define whatit means for electricity markets to fail, mostof the problems it raised are among those weknow how to solve or prevent. The stillunresolved make-or-break issue remains whetherthe cooperation necessary to maintainreliability is compatible with the degree ofcompetition necessary to bring about greaterefficiency and lower prices. Copyright Kluwer Academic Publishers 2002

Suggested Citation

  • Timothy Brennan & Karen Palmer & Salvador Martinez, 2002. "Implementing Electricity Restructuring," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 22(1), pages 99-132, June.
    • Handle: RePEc:kap:enreec:v:22:y:2002:i:1:p:99-132
    DOI: 10.1023/A:1015579618835
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    References listed on IDEAS

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    1. Palmer, Karen L. & Burtraw, Dallas & Bharvirkar, Ranjit & Paul, Anthony, 2001. "Restructuring and the Cost of Reducing NOx Emissions in Electricity Generation," Discussion Papers 10549, Resources for the Future.
    2. Palmer, Karen & Burtraw, Dallas, 1997. "Electricity restructuring and regional air pollution," Resource and Energy Economics, Elsevier, vol. 19(1-2), pages 139-174, March.
    3. Green, Richard, 2003. "Failing electricity markets: should we shoot the pools?," Utilities Policy, Elsevier, vol. 11(3), pages 155-167, September.
    4. Burtraw, Dallas & Palmer, Karen L. & Bharvirkar, Ranjit & Paul, Anthony, 2001. "Cost-Effective Reduction of NOx Emissions from Electricity Generation," Discussion Papers 10677, Resources for the Future.
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    Citations

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    Cited by:

    1. Gnansounou, Edgard & Dong, Jun, 2004. "Opportunity for inter-regional integration of electricity markets: the case of Shandong and Shanghai in East China," Energy Policy, Elsevier, vol. 32(15), pages 1737-1751, October.
    2. Bhagwat, Pradyumna C. & de Vries, Laurens J. & Hobbs, Benjamin F., 2016. "Expert survey on capacity markets in the US: Lessons for the EU," Utilities Policy, Elsevier, vol. 38(C), pages 11-17.
    3. Ma, Chunbo & He, Lining, 2008. "From state monopoly to renewable portfolio: Restructuring China's electric utility," Energy Policy, Elsevier, vol. 36(5), pages 1697-1711, May.
    4. Spencer Banzhaf, H. & Burtraw, Dallas & Palmer, Karen, 2004. "Efficient emission fees in the US electricity sector," Resource and Energy Economics, Elsevier, vol. 26(3), pages 317-341, September.
    5. Chang, Youngho & Hin Tay, Tuan, 2006. "Efficiency and deregulation of the electricity market in Singapore," Energy Policy, Elsevier, vol. 34(16), pages 2498-2508, November.
    6. Fenglong XIAO, 2011. "General Equilibrium Analysis of Electricity Market Liberalization in Singapore: A Comparative Study," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(12(565)), pages 107-114, December.
    7. Carley, Sanya, 2011. "Historical analysis of U.S. electricity markets: Reassessing carbon lock-in," Energy Policy, Elsevier, vol. 39(2), pages 720-732, February.
    8. Chang, Youngho, 2007. "The New Electricity Market of Singapore: Regulatory framework, market power and competition," Energy Policy, Elsevier, vol. 35(1), pages 403-412, January.

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