2000 POWER Conference
on Energy Research and Policy
March 17, 2000

Clark Kerr Campus
Joseph Wood Krutch Theatre
2601 Warring Street
University of California, Berkeley


Organized by the University of California Energy Institute’s (UCEI) Center for the Study of Energy Markets (CSEM), the conference presents the work of leading researchers on some of the most challenging issues facing the electricity industry. This year, the papers directly address issues of climate change, cap-and-trade mechanism, tariff restructuring, energy efficiency, and electricity market design. Discussants of the work will include both researchers and practitioners.


Morning Sessions

8:00am-9:00am: Registration and Continental Breakfast

9:00am-9:15am: Welcome
Severin Borenstein, UC Berkeley, Co-Director of POWER

9:15am-10:45am: Session 1

“Capacity Products and ISO Markets” by Harry Singh and Jonathan Jacobs, PG&E Energy Services
“Eliminating the Flaws in New England’s Reserve Markets” by Peter Cramton and Jeffrey Lien, University of Maryland


Alvin Klevorick, Yale University
Shmuel Oren, UC Berkeley


11:10am-12:40pm: Session 2

“Price Convergence in California’s Deregulated Wholesale Electricity Markets” by Severin Borenstein, UC Berkeley, James Bushnell, U.C. Energy Institute, Christopher Knittel, Boston University, and Catherine Wolfram, Harvard University

“Manipulation of Power Markets” by Craig Pirrong, Washington University, St. Louis


Frank Wolak, Stanford University
Ed Kahn, Analysis Group Inc.

12:40pm-2:10pm: Lunch

2:10pm-2:15pm: Welcome Back

2:15pm-3:00pm: Session 3

“Measuring Market Power in PJM: The Experience of Summer 1999” by Joseph E. Bowring, William T. Flynn, Robert E. Gramlich, Michael P. McLaughlin, David M. Picarelli, PJM, and Steven Stoft, UCEI

“Determination of Horizontal Market Power Abuse in Wholesale Electricity Markets” by Seabron Adamson and Kevin Wellenius, Frontier Economics


Carl Shapiro, UC Berkeley
Severin Borenstein, UC Berkeley


3:25pm-4:55pm: Session 4

“Zonal Pricing and Demand-Side Bidding in the Norwegian Electricity Market” by Tor Arnt Johnsen, Statistics Norway, Shashi Kant Verma, McKinsey & Company, and Catherine Wolfram, Harvard University

“Transmission Rights and Market Power on Electric Power Networks” by Paul Joskow, MIT, and Jean Tirole, IDEI, GREMAQ and MIT


Jim Bushnell, UCEI
William Hogan, Harvard University

4:55pm-5:00pm: Closing Remarks

5:00pm-6:30pm: Reception