CSEM Executive Education Course
January 20 – 21, 2005
California Independent System Operator Facility
Folsom, California
ECONOMIC FUNDAMENTALS OF
ELECTRICITY REGULATION AND MARKETS
Instructors
Severin Borenstein, Director of U.C. Energy Institute, Co-Director of CSEM and E.T. Grether Professor of Business Administration and Public Policy at the Haas School of Business, U.C. Berkeley.
James Bushnell, Research Director of U.C. Energy Institute, Co-Director of CSEM and Lecturer at the Haas School of Business, U.C. Berkeley.
Location
California Independent System Operator
Board Room
151 Blue Ravine Road
Folsom, California
Folsom is near Sacramento, CA and accessible from the Sacramento International Airport, which is approximately 35 miles south of Folsom.
Course Description
Electricity deregulation and the ensuing California crisis have dramatically changed electricity markets. Drawing heavily on the tools of economics and finance, this course will cover the regulatory and public policy issues that these changes have raised. The impacts and consequences of different strategies are evaluated in the context of the continuing changes in the organization and regulation of electricity markets.
Learning Objectives
Identify market implications of different regulatory strategies
Examine electricity market fundamentals
Comprehend basic financial instruments, hedging, and trading strategies
Understand the relationship between retail and wholesale markets
Explore the economics underlying transmission pricing and management regimes
Understand market power and market manipulation, and options for mitigation
Who Should Attend?
Management and senior level regulatory staff with minimal training in economics or electricity regulation;
Professional staff interested in post-restructuring electricity economics; and
Electricity industry professionals interested in understanding the economics of electricity regulation and markets.