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The Role of the ISO in U.S. Electricity Markets: A Review of Restructuring in California and PJM

Author

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  • Cameron, Lisa
  • Cramton, Peter

Abstract

Despite their design differences, both the California and the Pennsylvania-New Jersey-Maryland markets provide explicit roles for competition in the scheduling functions while allowing the ISO to manage the spot market. Experience has shown that both can work.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Cameron, Lisa & Cramton, Peter, 1999. "The Role of the ISO in U.S. Electricity Markets: A Review of Restructuring in California and PJM," The Electricity Journal, Elsevier, vol. 12(3), pages 71-81, April.
  • Handle: RePEc:eee:jelect:v:12:y:1999:i:3:p:71-81
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    Cited by:

    1. Sandro Sapio, 2004. "Markets Design, Bidding Rules, and Long Memory in Electricity Prices," Revue d'Économie Industrielle, Programme National Persée, vol. 107(1), pages 151-170.
    2. Natalia Fabra & Nils‐Henrik Fehr & David Harbord, 2006. "Designing electricity auctions," RAND Journal of Economics, RAND Corporation, vol. 37(1), pages 23-46, March.
    3. Gaffney, F. & Deane, J.P. & Gallachóir, B.P.Ó, 2017. "A 100 year review of electricity policy in Ireland (1916–2015)," Energy Policy, Elsevier, vol. 105(C), pages 67-79.
    4. Arciniegas, Ismael & Barrett, Chris & Marathe, Achla, 2003. "Assessing the efficiency of US electricity markets," Utilities Policy, Elsevier, vol. 11(2), pages 75-86, June.
    5. Swider, Derk J. & Weber, Christoph, 2007. "Bidding under price uncertainty in multi-unit pay-as-bid procurement auctions for power systems reserve," European Journal of Operational Research, Elsevier, vol. 181(3), pages 1297-1308, September.

    More about this item

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • L97 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Utilities: General
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities

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