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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. Bekien

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. Bekien, 1996. "The Performance of the U.S. Market for Independent Electricity Generation," The Energy Journal, , vol. 17(3), pages 23-39, July.
    • Handle: RePEc:sae:enejou:v:17:y:1996:i:3:p:23-39
    DOI: 10.5547/ISSN0195-6574-EJ-Vol17-No3-2
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    References listed on IDEAS

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    1. Edward C Hall & John E. Parsons, 1990. "The Efficient Design of Contracts To Purchase Cogenerated Powers," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 105-116.
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