2006 Annual POWER Conference
on Energy Research and Policy

March 24, 2006

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

“Emissions Trading, Electricity Industry Restructuring, and Investment in Pollution Abatement,” Meredith Fowlie (UC Berkeley)

“Lessons for a Cap-and-Trade Program, Managing Greenhouse Gas Emissions in California ,” Dallas Burtraw (Resources for the Future), Alexander E. Farrell (UC Berkeley), Lawrence H. Goulder ( Stanford University ), and Carla Peterman (UC Berkeley)


Nathaniel Keohane (Yale University)

Kevin S. Leahy (Cinergy Corporation)


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

“Virtual Divestitures. Will They Make a Difference?” Bert Willems (Florence School of Regulation)

“Hedging Quantity Risks with Standard Power Options in a Competitive Wholesale Electricity Market,” Yumi Oum (UC Berkeley ),Shmuel Oren (UC Berkeley), and Shijie Deng (Georgia Institute of Technology)


Steven L. Puller (Texas A&M)

Jeffrey Williams (UC Davis)

12:40pm-2:10pm: Lunch

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

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

“Wealth Transfers from Implementing Real-Time Retail Electricity Pricing,” Severin Borenstein (UC Berkeley)

“Residential Customer Response to Real-Time Pricing: The Anaheim Critical-Peak Pricing Experiment,” Frank Wolak ( StanfordUniversity)


Ahmad Faruqui (Charles River Associates International)

Nancy Ryan (California Public Utilities Commission)


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

“The Convergence of Market Designs for Adequate Generating Capacity,” Peter Cramton ( University of Maryland), and Steven Stoft

“On an ‘Energy Only’ Electricity Market Design for Resource Adequacy,” William Hogan ( Harvard University )


Mike Jaske (California Energy Commission)

Gary Stern (Southern California Edison)

Curtis Kebler (Goldman Sachs)

James Bushnell (UC Berkeley)

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

5:00pm-6:30pm: Reception

*Denotes Presenter(s)