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Implementing Electricity Restructuring: Policies, Potholes, and Prospects

Author

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  • Palmer, Karen

    () (Resources for the Future)

  • Brennan, Timothy

    () (Resources for the Future)

  • Martinez, Salvador

Abstract

Electricity is one of the last U.S. industries in which competition is replacing regulation. We briefly review the technology for producing and delivering power, the history of electricity policy, and recent state and international experience. We then outline the major questions facing policymakers as they decide whether, when, and how to implement restructuring. We conclude with some thoughts on the California electricity crisis and other political controversies. Although the California experience has come to define what it means for electricity markets to fail, most of the problems it raised are among those we know how to solve or prevent. The still unresolved make-or-break issue remains whether the cooperation necessary to maintain reliability is compatible with the degree of competition necessary to bring about greater efficiency and lower prices. This paper draws upon our forthcoming book, Alternating Curents: Electricity Markets and Public Policy.

Suggested Citation

  • Palmer, Karen & Brennan, Timothy & Martinez, Salvador, 2001. "Implementing Electricity Restructuring: Policies, Potholes, and Prospects," Discussion Papers dp-01-62-, Resources For the Future.
  • Handle: RePEc:rff:dpaper:dp-01-62-
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    File URL: http://www.rff.org/RFF/documents/RFF-DP-01-62.pdf
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    References listed on IDEAS

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    1. Brennan, Timothy J & Boyd, James, 1997. "Stranded Costs, Takings, and the Law and Economics of Implicit Constracts," Journal of Regulatory Economics, Springer, vol. 11(1), pages 41-54, January.
    2. Burtraw, Dallas & Palmer, Karen & Bharvirkar, Ranjit & Paul, Anthony, 2001. "Restructuring and Cost of Reducing NOx Emissions in Electricity Generation," Discussion Papers dp-01-10-rev, Resources For the Future.
    3. Bohi, Douglas R. & Palmer, Karen L., 1996. "The efficiency of wholesale vs. retail competition in electricity," The Electricity Journal, Elsevier, vol. 9(8), pages 12-20, October.
    4. George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring.
    5. Brennan, Timothy, 1998. "Demand-Side Management Programs Under Retail Electricity Competition," Discussion Papers dp-99-02, Resources For the Future.
    6. Palmer, Karen & Ando, Amy, 1998. "Getting on the Map: The Political Economy of State-Level Electricity Restructuring," Discussion Papers dp-98-19-rev, Resources For the Future.
    7. Green, Richard, 2003. "Failing electricity markets: should we shoot the pools?," Utilities Policy, Elsevier, vol. 11(3), pages 155-167, September.
    8. Burtraw, Dallas & Palmer, Karen & Bharvirkar, Ranjit & Paul, Anthony, 2001. "Cost-Effective Reduction of NOx Emissions from Electricity Generation," Discussion Papers dp-00-55-rev, Resources For the Future.
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    Cited by:

    1. Payal Malik, 2010. "Design of Power Markets : Different Market Structures and Proposed Options for India," Working Papers id:2848, eSocialSciences.

    More about this item

    Keywords

    electricity restructuring; regulation; deregulation;

    JEL classification:

    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
    • D4 - Microeconomics - - Market Structure, Pricing, and Design

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