2001 POWER Conference
on Energy Research and Policy

March 16, 2001

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 and UC Energy Institute, Co-Director of CSEM

9:15am-10:45am: Session 1
“Environmental Regulation in Oligopoly Markets: A Study of Electricity Restructuring,” Erin Mansur, UC Berkeley

“An Empirical Analysis of Market Efficiency in the ISO New England Electricity Market,” James Bushnell, UCEI and Celeste Saravia, UC Berkeley


Frank Wolak, Stanford University
Paul Joskow, MIT


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

“Stability of Supply Function Equilibria: Implications for Daily vs. Hourly Bids in a Poolco Market,” Ross Baldick , University of Texas and William Hogan, Harvard University

“Efficiency and Competition with Forward Contracts: A Laboratory Experiment Motivated by Electricity Market Design,” Jordi Brandts, Institut de Analysis Economico, Paul Pezanis-Christou, Institut de Analysis Economico and Arthur Schram, Universiteit van Amsterdam


Ed Kahn, Analysis Group
Robert Wilson, Stanford University

12:40pm-2:10pm: Lunch

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

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

“Trend in Electricity Consumption, Peak Demand, and Generating Capacity in California and the Western Grid, 1977-2000,” Jolanka Fisher and Timothy Duane, UC Berkeley.

“The ‘Make or Buy’ Decision in U.S. Electricity Generating Investments,” Jun Ishii, UC Irvine and Jingming Yan , Cornerstone Research


Kenneth Cory, Calpine
Severin Borenstein, UC Berkeley and UCEI


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

“Retail Competition and Electricity Contracts,” Richard Green, University of Hull

“Market Outcomes and Generator Behaviour in the England and Wales Wholesale Electricity Market, 1995-2000,” Andrew Sweeting, MIT


Catherine Wolfram, UCEI
Steve Puller, Texas A&M University

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

5:00pm-6:30pm: Reception