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Markets For Power In The United States - An Interim Assessment

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  • Paul L. Joskow

Abstract

The transition to competitive wholesale and retail markets for electricity in the U.S. has been a difficult and contentious process. This paper examines the progress that has been made in the evolution of wholesale and retail electricity market institutions. Various indicia of the performance of these market institutions are presented and discussed. Significant progress has been made on the wholesale competition front but major challenges must still be confronted. The framework for supporting retail competition has been less successful, especially for small customers. Empirical evidence suggests that well-designed competitive market reforms have led to performance improvements in a number of dimensions and have benefited customers through lower retail prices.

Suggested Citation

  • Paul L. Joskow, 2005. "Markets For Power In The United States - An Interim Assessment," Working Papers 0512, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research.
    • Handle: RePEc:mee:wpaper:0512
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    Cited by:

    1. is not listed on IDEAS
    2. Maticka, Martin J., 2026. "Investment dunkelflautes. Inflection points for transitioning markets," Energy Policy, Elsevier, vol. 208(C).
    3. Segarra, Ignacio & Atanasova, Christina & Figuerola-Ferretti, Isabel, 2024. "Electricity markets regulations: The financial impact of the global energy crisis," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 93(C).
    4. Ann Wolverton & Ron Shadbegian & Wayne Gray, 2022. "The U.S. Manufacturing Sector’s Response to Higher Electricity Prices: Evidence from State-Level Renewable Portfolio Standards," Working Papers 22-47, Center for Economic Studies, U.S. Census Bureau.
    5. Berha, Andu & Mohapatra, Sandeep, 2025. "Distributional effects of energy costs: Does firm ownership structure matter?," Energy Economics, Elsevier, vol. 141(C).
    6. Berha, Andu & Khemani, Stuti, 2026. "Unreliable Electricity in Developing Countries : The Role of Weak Institutions," Policy Research Working Paper Series 11290, The World Bank.
    7. repec:osf:osfxxx:s39h2_v1 is not listed on IDEAS

    More about this item

    JEL classification:

    • F0 - International Economics - - General

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