Economic-efficiency considerations in restructuring electric markets
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Economic-efficiency considerations in restructuring electric markets by Lawrence J. Hill

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Published by Oak Ridge National Laboratory in Oak Ridge, Tennessee .
Written in English

Book details:

Edition Notes

StatementLawrence J. Hill.
ContributionsOffice of Utility Technologies. U.S. Department of Energy., Office of Energy Efficiency and Renewable Energy. U.S. Department of Energy., Lockheed Martin Energy Research Corp.
The Physical Object
Pagination69 p.
Number of Pages69
ID Numbers
Open LibraryOL17590975M

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  Dr. Sioshansi advises major utility clients and government policy makers domestically and internationally on electricity market reform, restructuring and privatization of the electric power sector. He has published numerous reports, books, book chapters and papers in peer-reviewed journals on a wide range of subjects.4/5(1). Over the last three decades a wave of reform has spread nearly every aspect of modern economic activity. Reformers have sought to replace state control with markets in air transportation, telecommunications, banking, ports, railroads, food service, and sundry other activities. Even Russian vodka is the product, today, of markets rather than a state behemoth. Do Markets Reduce Costs? Assessing the Impact of Regulatory Restructuring on US Electric Generation Efficiency By Kira R. Fabrizio, Nancy L. Rose, and Catherine D. Wolfram* While neoclassical models assume static cost-minimization by firms, agency models suggest that firms may not minimize costs in less-competitive or regulated environ-ments. economic efficiency of the power supply in the restructured markets of the United States. The emphasis of the report is on wholesale electricity markets, including enabling regulation and the motivations that lead to wholesale electricity market implementation. The information in this.

  Framework for Evaluating Energy Efficiency Interventions in Restructured Markets Electric power industry restructuring changes the relationship of customers, the utility, and regulators. When a franchised monopoly exists, the government can rely on an implicit social contract between government and the utility as the basis for the utility to im.   A "restructured market" is one in which generation, transmission, and distribution are de-integrated. It also has an independent system operator and a spot market. Other design features are evident from the discussion in the text. 3. LAWRENCE J. HILL, ECONOMIC-EFFI- CIENCY CONSIDERATIONS IN RESTRUCTURING, ELECTRIC MARKETS (Oak Ridge Nat].   Some of the flaws in the policy that ordered California's electric market to be restructured in were pointed out earlier in the chapter. This is also mentioned by Faruqui and Sergici (); that is, it is clearly the case that the energy crisis that transpired in the western United States in – could have been obviated (at least in part) if prices paid for electricity by retail.   Economic efficiency is when every scarce resource in an economy is used and distributed among producers and consumers in a way that produces the most economic output and benefit to consumers.

The book also contains a comprehensive analysis of different electricity market models and their compatibility with the properties of electric power systems and country conditions. As the most thorough and up to date analysis of the theory and practical experience of electricity deregulation, this book is a must-read for academics, students and Reviews: 1. Economic-efficiency considerations in restructuring electric markets Technical Report Hill, L J In response to the Energy Policy Act of and the Federal Energy Regulatory Commission`s subsequent rulemaking on transmission access, many states are exploring options to restructure their electric . FIGURE 1 -- FACETS OF “ECONOMIC EFFICIENCY” IN AN ECONOMY. Efficiency in production requires. a) That available resources are fully used (which means among other things that en economic with involuntary unemployment is ipso facto inefficient) b) Real resources are used so as to maximize the total social value of the output to be had from. a. Economic efficiency considerations 34 b. Other considerations 44 c. Regulatory goals 53 HISTORICAL AND LEGAL FOUNDATIONS FOR REGULATION 56 ALTERNATIVE REGULATORY INSTITUTIONS a. Overview 62 b. Franchise contracts and competition for the market 65 c. Franchise contracts in practice 68 d.