2004 POWER Conference
on Energy Research and Policy
March 19, 2004

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

“A Comparison of Price Patterns in Deregulated Power Markets,” Peter Flynn and Katherine Ying Li, University of Alberta

“The Natural Number of Forward Markets for Electricity,” Hiroaki Suenaga and Jeffrey Williams, UC Davis


Severin Borenstein, UC Berkeley and UCEI

Christopher R. Knittel, UC Davis


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

“Reliability and Competitive Electricity Markets,” Paul Joskow, MIT and Jean Tirole, Toulouse and MIT

“Resource Adequacy and Market Power Mitigation via Option Contracts,” Hung-po Chao, EPRI and Robert Wilson, Stanford University


Stephen Holland, University of North Carolina-Greensboro

Harry Singh, FERC

12:40pm-2:10pm: Lunch

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

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

“Testing Strategic Models of Firm Behavior in Restructured Electricity Markets:  A Case Study of ERCOT,” Steve Puller, Texas A&M and Ali Hortacsu, University of Chicago

“Market Structure and Competition: A Cross-Market Analysis of US Electricity Restructuring,” James Bushnell, UCEI, Erin Mansur, Yale University and Celeste Saravia, UC Berkeley and UCEI


Frank Wolak, Stanford University

Al Klevorick, Yale University


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

“Recent Blackouts in the US, Canada, and Continental Europe: Is Liberalisation to Blame?” Janusz Bialek, University of Edinburgh

“Has Restructuring Improved Operating Efficiency at US Electricity Generating Plants?” Kira Markiewicz, UC Berkeley, Catherine Wolfram, UC Berkeley and UCEI, and Nancy Rose, MIT


Joe Eto, Lawrence Berkeley National Laboratory

Joe Bowring, PJM

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

5:00pm-6:30pm: Reception