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Markets for Power: An Analysis of Electrical Utility Deregulation

Author

Listed:
  • Paul L. Joskow

    () (Massachusetts Institute of Technology)

  • Richard Schmalensee

    () (Massachusetts Institute of Technology)

Abstract

Markets for Power provides an unusually complete analysis of the economic, technical, and institutional aspects of the electric utility industry. The authors evaluate four currently popular options for deregulating this unique segment of the economy, and in a balanced program for reform, they advise against total deregulation and recommend a cautious approach to even partial deregulation.

Suggested Citation

  • Paul L. Joskow & Richard Schmalensee, 1988. "Markets for Power: An Analysis of Electrical Utility Deregulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262600188, January.
  • Handle: RePEc:mtp:titles:0262600188
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    Citations

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    Cited by:

    1. Donald N. Dewees, 2003. "Price and Environment in Electricity Restructuring," Working Papers dewees-01-01, University of Toronto, Department of Economics.
    2. Richard Gilbert & Neuhoff, K. & Newbery, D., 2002. "Allocating Transmission to Mitigate Market Power in Electricity Networks," Cambridge Working Papers in Economics 0225, Faculty of Economics, University of Cambridge.
    3. Bernard, Jean-Thomas & Guertin, Chantal, 2000. "Nodal Pricing and Transmissions Losses. An Application to a Hydroelectric Power System," Cahiers de recherche 0007, GREEN.
    4. Donald N. Dewees, 2008. "Pollution and the Price of Power," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 81-100.
    5. Michael Maloney, 2001. "Economies and Diseconomies: Estimating Electricity Cost Functions," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 19(2), pages 165-180, September.
    6. Paul L. Joskow, 1997. "Restructuring, Competition and Regulatory Reform in the U.S. Electricity Sector," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 119-138, Summer.
    7. Glanchant, J-M. & Pignon, V., 2003. "Nordic Electricity Congestion's Arrangement as a Model for Europe: Physical Constraints or Operators' Opportunity," Cambridge Working Papers in Economics 0313, Faculty of Economics, University of Cambridge.
    8. Tarjei Kristiansen & Juan Rosellón, 2006. "A Merchant Mechanism for Electricity Transmission Expansion," Journal of Regulatory Economics, Springer, vol. 29(2), pages 167-193, March.
    9. Moita, Rodrigo Menon Simões & Monte, Daniel, 2017. "Competition in cascades," Textos para discussão 456, FGV/EESP - Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
    10. Jamasb, T., 2002. "Reform and Regulation of the Electricity Sectors in Developing Countries," Cambridge Working Papers in Economics 0226, Faculty of Economics, University of Cambridge.
    11. Michael T. Toman & Barbora Jemelkova, 2003. "Energy and Economic Development: An Assessment of the State of Knowledge," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4), pages 93-112.
    12. João Lizardo de Araújo, 2001. "A questão do investimento no Setor Elétrico Brasileiro: reforma e crise [The investment in the Brazilian power sector: reform and crisis]," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 11(1), pages 77-96, July.
    13. Steven Davis & Cheryl Grim & John Haltiwanger & Mary Streitwieser, 2007. "Electricity Pricing to U.S. Manufacturing Plants, 1963-2000," Working Papers 07-28, Center for Economic Studies, U.S. Census Bureau.
    14. Manuel Fernández & Isabel Ortega & Julio Segura, 1993. "Simulación de ganancias de eficiencia en el mercado interior europeo de electricidad," Investigaciones Economicas, Fundación SEPI, vol. 17(2), pages 239-261, May.
    15. Bernard, Jean-Thomas, 1999. "Le marché québécois de l’électricité : rétrospective et voies de l’avenir," L'Actualité Economique, Société Canadienne de Science Economique, vol. 75(4), pages 673-694, décembre.
    16. Daniel A. Benitez, 2004. "On Quantity Competition and Transmission Constraints in Electricity Market," Econometric Society 2004 Latin American Meetings 98, Econometric Society.
    17. Markus Ksoll, 2001. "Two stages of uniform delivered pricing and a monopolistic network in competitive electricity markets," ERSA conference papers ersa01p280, European Regional Science Association.
    18. Thomas-Olivier Léautier & Véronique Thelen, 2009. "Optimal expansion of the power transmission grid: why not?," Journal of Regulatory Economics, Springer, vol. 36(2), pages 127-153, October.
    19. Pierre Heumann, 1984. "Markthindernisse, Transaktionskosten und property rights: Möglichkeiten für eine rationale Energiepolitik," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 120(III), pages 367-382, September.
    20. Nicolas Dahan & Jonathan Doh & Jonathan Raelin, 2015. "Pivoting the Role of Government in the Business and Society Interface: A Stakeholder Perspective," Journal of Business Ethics, Springer, vol. 131(3), pages 665-680, October.
    21. Markus Ksoll & Klaus Schöler, 2001. "Alternative Organisation zweistufiger Strommmärkte - Ein räumliches Marktmodell bei zweidimensionaler Verteilung der Nachfrage -," Volkswirtschaftliche Diskussionsbeiträge 47, Universität Potsdam, Wirtschafts- und Sozialwissenschaftliche Fakultät.
    22. Niamh McCarthy, 2005. "Market Size, Market Structure & Market Power in the Irish Electricity Industry," Papers WP168, Economic and Social Research Institute (ESRI).

    More about this item

    Keywords

    electric utility industry; deregulation;

    JEL classification:

    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
    • L50 - Industrial Organization - - Regulation and Industrial Policy - - - General

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