2003 POWER Conference
on Energy Research and Policy
March 14, 2003

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

9:15am-10:45am: Session 1
“Why Did British Electricity Prices Fall After 1998?”
Jim Bushnell, UC Berkeley and UC Energy Institute, Co-Director of CSEM

“Auctions and Trading in Energy Markets: An Economic Analysis,”
Joanne Evans and Richard Green, University of Hull. David Newbery and Tanga McDaniel, University of Cambridge


Ali Hortacsu, University of Chicago
Catherine Wolfram, UC Berkeley and UCEI


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

“The California Electricity Crisis: An Experimental Investigation of the Effects of Changing the Market Rules”
Timothy Mount, Christian Vossler, Robert Thomas, and Ray Zimmerman, Cornell University.

“On the Efficiency of Transmission Congestion Contract Markets in New York,” Afzal Siddiqui, Emily Bartholomew, Chris Marnay, Lawrence Berkeley Laboratory, and Shmuel Oren, UC Berkeley.


Jim Bushnell, UC Berkeley and UCEI
Chris Knittel, UC Davis

12:40pm-2:10pm: Lunch

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

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

“Using Environmental Emissions Permit Prices to Raise Electricity Prices: Evidence from the California Electricity Market,” Jonathan Kolstad and Frank Wolak, Stanford University.

“Price Wars and Collusion in the Spanish Electricity Market,” Natalia Fabra, Universidad Carlos III de Madrid, and Juan Toro, Oxford University and centrA.


Ed Kahn, Analysis Group
Steve Puller, Texas A&M University


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

“Time-Varying Retail Electricity Prices: Theory and Practice,” Severin Borenstein, UC Berkeley and UCEI.

“Is Real-time Pricing Green?” Stephen Holland, UCEI and Erin Mansur, Yale University.


Larry Ruff, Charles River Associates
Ben Hobbs, Johns Hopkins University

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

5:00pm-6:30pm: Reception