Economics of Energy and the Environment

Virtual Executive Education Course

December 4-7, 2023

The Economics of Energy and the Environment Executive Education course is being offered virtually, with a combination of pre-recorded screencast videos (sent in advance of the course) and interactive Zoom sessions.

The pre-recorded screencast videos will be 60-75 minutes long for each of the 8 modules. The interactive Zoom sessions will take place on December 4-7, 2023 from 10:00am-12:00pm PST. During the interactive portions of the course, attendees will have the opportunity to ask questions and participate in policy discussions.

This virtual course is designed to impart at least the same amount of information as an in-person course, but in a more interactive format. The format has been developed from the courses that Professors Borenstein and Bushnell teach at UC Berkeley and UC Davis.

Course Description:

Electricity markets have been restructured in fundamental ways for nearly 30 years often resulting in markets that are subject to both competition and regulation. This course covers the fundamental concepts of electric utility regulation and competitive electricity markets, the incentives that each market structure creates, and the potential drawbacks of each. We will also examine retail rate design and the economics of environmental regulation.

The following topics will be covered in the course:

  • Fundamentals of Electricity Regulation
  • Retail Rate Design
  • Competitive Wholesale Electricity Markets
  • Market Power in Energy Markets
  • Economics of Renewable Energy
  • Reliability, Resource Adequacy, and Capacity Markets
  • Energy Externalities
  • Environmental Caps and Intensity Standards


severin-borensteinSeverin Borenstein is Professor of the Graduate School, Economic Analysis and Policy Group, Haas School of Business, and Faculty Director of the Energy Institute at Haas, UC Berkeley. He received his A.B. from U.C. Berkeley and Ph.D. in Economics from M.I.T. He served on the Board of Governors of the California Power Exchange from 1997 to 2003. In 2012-2013, Borenstein served on the Emissions Market Assessment Committee that advised the California Air Resources Board on the operation of California’s Cap and Trade market for greenhouse gases. In 2014, he was appointed to the California Energy Commission’s Petroleum Market Advisory Committee, which he chaired from 2015 until the Committee was dissolved in 2017. From 2015 to 2020, he served on the Advisory Council of the Bay Area Air Quality Management District. In 2019, he was appointed to the Governing Board of the California Independent System Operator.

James Bushnell is Professor of Economics at UC Davis and Faculty Affiliate at the Energy Institute at Haas, UC Berkeley. He received his B.S. from the University of Wisconsin in 1989 and Ph.D. in Industrial Engineering and Operations Research from UC Berkeley in 1993. He has served on the California Independent System Operator’s Market Surveillance Committee since 2002. In addition, Bushnell served on the California Power Exchange’s Market Monitoring Committee and on the California Air Resources Board’s Economic Assessment and Allocation Committee for its cap-and-trade program. In 2012-13, he served on the Emissions Market Assessment Committee to the California Air Resources Board (ARB) and is currently advising the ARB on the modeling and economic analysis of climate policy.


Government/Non-Profit rate
$750 (early registration on or before November 20, 2023)
$800 (registration on or after November 21, 2023)

Private-Sector rate
$1,750 (early registration on or before November 20, 2023)
$1,800 (registration on or after November 21, 2023)

Cancellation Policy:

If you are unable to attend, please cancel through the registration portal, or email us at [email protected]. Cancellations are subject to the following fees.

Before November 20, 2023: Full refund minus a $100 processing fee (even if payment has not been submitted, you are responsible for this fee). No refund will be given if your registration fee is less than $100. Refunds are issued in the format payment is received. Please allow 48-72 hours for refunds to be issued.

On or after November 21, 2023: No refunds provided.