The Impact of FERC Orders on the Value of Bidders in PJM
A study of the responses of share prices of major bidders in the PJM auctions from the mid-1990s through 2006 finds statistically significant effects for some FERC decisions for a portfolio of bidders. In contrast to publicly stated policy objectives, the analysis shows that some FERC decisions significantly raised market expectations regarding the future profitability of bidders.
Volume (Year): 22 (2010 2009)
Issue (Month): 7 (August)
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