Our Center for the Study of Energy Markets (CSEM) expanded the annual POWER Conference on Energy Research and Policy, including the working papers below.

Timothy Lipman, Jennifer Edwards and Daniel Kammen, “Economic Implications of Net Metering for Stationary and Motor Vehicle Fuel Cell Systems in California” (February 2002) | PWP-92

Rajnish Kamat and Shmuel Oren, “Two-Settlement Systems for Electricity Markets: Zonal Aggregation Under Network Uncertainty and Market Power,” (February 2002) | PWP-91

Christopher Day, Benjamin Hobbs, and Jong-Shi Pang, “Oligopolistic Competition in Power Networks: A Conjectured Supply Function Approach,” (February 2002) | PWP-90

Ross Baldick and William Hogan, “Capacity Constrained Supply Function Equilibrium Models of Electricity Markets: Stability, Non-decreasing constraints, and Function Space Iterations,” (December 2001, Revised August 2002) | PWP-89

Erin Mansur, “Environmental Regulation in Oligopoly Markets: A Study of Electricity Restructuring,” (November 2001) | PWP-88

Christopher Knittel and Michael Roberts, “An Empirical Examination of Deregulated Electricity Prices,” (October 2001) | PWP-87

Severin Borenstein, James Bushnell, Christopher Knittel, and Catherine Wolfram, “Trading Inefficiencies in California’s Electricity Markets,” (October 2001) | PWP-86

Fisher Jolanka, and Timothy Duane, “Trends in Electricity Consumption, Peak Demand, and Generating Capacity in California and the Western Grid 1977-2000,” (September 2001) | PWP-85

Justine Hastings and Richard Gilbert, “Vertical Integration in Gasoline Supply: An Empirical Test of Raising Rivals’ Costs,” (July 2001, Revised March 2002) | PWP-84

Erin Mansur, “Pricing Behavior in the Initial Summer of the Restructured PJM Wholesale Electricity Market” (April 2001) | PWP-83

James Bushnell and Erin Mansur,  “The Impact of Retail Rate Deregulation on Electricity Consumption in San Diego” (April 2001) | PWP-82

Severin Borenstein, “The Trouble With Electricity Markets and California’s Electricity Restructuring Disaster” (September 2001) (Revised version published in Journal of Economic Perspectives, Winter, 2002) | PWP-81

Steven Puller,  “Pricing and Firm Conduct in California’s Deregulated Electricity Market” (July 2001) | PWP-80

Steven Stoft, “Soft Price Caps and Underscheduling Penalties: How Would the FERC Plan Affect California Electricity Markets?” (November 2000) | PWP-079

Ross Baldick, Ryan Grant, and Edward Kahn, “Linear Supply Function Equilibrium: Generalizations, Application, and Limitations” (August 2000) | PWP-078

Steven Stoft, “PJM’s Capacity Market in a Price-Spike World” (May 2000) | PWP-077

Shmuel Oren and Andrew Ross, “Economic Congestion Relief Across Multiple Regions Requires Tradable Physical Flow-gate Rights” (May 2000) | PWP-076

Justine Hastings, “Vertical Relationships and Competition in Retail Gasoline Markets: Empirical Evidence from Contract Changes in Southern California” (November 2000, Revised April 2002) | PWP-075

Severin Borenstein and James Bushnell, “Electricity Restructuring: Deregulation or Reregulation?” (February 2000) (Revised version published in Regulation, 2000, Vol. 23(2)) | PWP-074

Shijie Deng, “Stochastic Models of Energy Commodity Prices and Their Applications: Mean-reversion with Jumps and Spikes” (February 2000) | PWP-073

Shijie Deng and Shmuel Oren, “Priority Network Access Pricing for Electric Power” (February 2000) | PWP-072

Rajnish Kamat and Shmuel Oren,  “Exotic Options for Interruptible Electricity Supply Contracts” (February 2000) | PWP-071

James Bushnell and Frank Wolak, “Regulation and the Leverage of Local Market Power in the California Electricity Market” (September 1999) | PWP-070

Catherine Wolfram, “Electricity Markets: Should the Rest of the World Adopt the UK Reforms?” (September 1999) (Revised version published in Regulation, 1999, Vol. 22(4), pp. 48-53) | PWP-069

Christopher Knittel, “Does Incentive Regulation Provide the Correct Incentives?: Stochastic Frontier Evidence from the US Electricity Industry” (September 1999) (Revised version published in Review of Economics and Statistics, August 2002) | PWP-068

Severin Borenstein , “Understanding Competitive Pricing and Market Power in Wholesale Electricity Markets” (August 1999) (Revised version published in Electricity Journal, July 2000) | PWP-067

Carl Blumstein, “Pricing Electricity for Default Customers: Pass Through or Performance-Based Rates?” (August 1999) | PWP-066

Christopher Knittel, “Regulatory Imperfections in the Electricity and Natural Gas Industries: Evidence from the Pricing and Investment Decisions of Single and Multi-Product Electricity Firms,” (July 1999) (Revised version published in Journal of Industrial Economics, forthcoming) | PWP-065

Severin Borenstein, James Bushnell, and Frank Wolak,Diagnosing Market Power in California’s Deregulated Wholesale Electricity Market” (Revised August 2000) (Revised version published in American Economic Review, December 2002) | PWP-064

Tor Arnt Johnsen, Shashi Kant Verma, and Catherine Wolfram, “Zonal Pricing and Demand-Side Bidding in the Norwegian Electricity Market,” (June 1999) | PWP-063

James Bushnell, “Transmission Rights and Market Power,” (November 1998) (Revised version published in Electricity Journal, October 1999) | PWP-062

Bart McGuire,  “Power-Grid Decentralization,” (March 1999) | PWP-061

Richard Green, “England and Wales – A Competitive Electricity Market?” (September 1998) | PWP-060

Severin Borenstein, James Bushnell, and Christopher Knittel, “Market Power in Electricity Markets: Beyond Concentration Measures,” (Revised January 1999) (Revised version published in Energy Journal , 20(4): October 1999, pages 65-88) | PWP-059

Richard Green, “Electricity Transmission Pricing: How much does it cost to get it wrong?” (May 1998) | PWP-058

Richard Green and Tanga McDaniel, “Competition in Electricity Supply: Will “1998” Be Worth It?” (April 1998) (Revised version published in Fiscal Studies, 19(3): August 1998, pp. 273-293) | PWP-057

James Bushnell “Water and Power: Hydroelectric Resources in the Era of Competition in the Western U.S.,” (Revised July 1998) (Revised version published in Operations Research, Jan/Feb 2003) | PWP-056

Steven Stoft, “Fewer Prices than Zones,” (February 1998) (Revised version appeared as “Congestion Pricing with Fewer Prices than Zones” in Electricity Journal, 11(4): May 1998, pp.23-31) | PWP-055

Bart McGuire, “Power Auctions and Intertemporal Production Costs: Dealing with Unit Commitment,” (October 1997) | PWP-054

Wedad Elmaghraby, “Multi-Unit Auctions with Complementarities: Issues of Efficiency in Electricity Auctions,” (Revised April 1998) (Revised version published in Operations Research, Forthcoming) | PWP-053

Mario Bergara, Witold Henisz and Pablo Spiller, “Political Institutions and Electric Utility Investment: A Cross-Nation Analysis,” (September 1997) (Revised version published in California Management Review , 40(2): Winter 1998, pages 18-35) | PWP-052

Frank Wolak, “Market Design and Price Behavior in Restructured Electricity Markets: An International Comparison,” (August 1997) | PWP-051

Bart McGuire, “Optimal Power Flow, Node Prices, and Transmission Toll in a Number of Instructive Examples,” (June 1997) | PWP-050

Steven Stoft, “How Financial Transmission Rights Curb Market Power,” (June 1997) (Revised version appeared as “Financial Transmission Rights Meet Cournot: How TCCs Curb Market Power” in Energy Journal, 20(1): 1999, pp. 1-23) | PWP-049

Christopher Knittel,  “The Origins of State Electricity Regulation: Revisiting an Unsettled Topic,” (Revised November 1999) | PWP-048

Frank Wolak and Robert Patrick, “The Impact of Market Rules and Market Structure on the Price Determination Process in the England and Wales Electricity Market,” (April 1997) | PWP-047

Tseng, C., Li, C. and Oren, S., “Solving Unit Commitment by a Unit Decommitment Method,” (February 1997) | PWP-046

Bart McGuire, “Price Driven Coordination in a Lossy Power Grid,” (February 1997) | PWP-045

Severin Borenstein and James Bushnell, “An Empirical Analysis of the Potential for Market Power in California’s Electricity Industry” (Revised December 1998) (Revised version published in the Journal of Industrial Economics , Spetember 1999, 47(3) | PWP-044

Mario Bergara and Pablo Spiller, “The Introduction of Direct Access in New Zealand’s Electricity Market,” (November 1996) (Revised version published in Utilities Policy, 6(2): 1997, pages 97-105) | PWP-043

Steven Stoft, “An Analysis of the California WEPEX Applications to the FERC,” (October 1996) | PWP-042

Shmuel Oren, “Preemption of TCCs and Deadweight Loss in Centrally Dispatched Electric Systems with Competitive Generation,” (September 1996) (Revised version appeared as “Economic Inefficiency of Passive Transmission Rights in Congested Electricity Systems with Competitive Generation” in Energy Journal, 18(1): 1997, pp. 63-83) | PWP-041

Severin Borenstein, James Bushnell, and Steven Stoft, “The Competitive Effects of Transmission Capacity in a Deregulated Electricity Industry,” (October 1998, Revised October 1999) (Revised version published in Rand Journal of Economics, Summer 2000) | PWP-040

Raymond Johnson, Shmuel Oren, and Alva Svoboda, “Equity and Efficiency of Unit Commitment in Competitive Electricity Markets,” (June 1996) (Revised version published in Utilities Policy, 6(1): 1997, pp. 9-19) | PWP-039

Edward Kahn, Shawn Bailey, and Luis Pando, “Simulating Electricity Restructuring in California: Interactions with the Regional Market,” (April 1996) (Revised version published in Resource and Energy Economics, 19(1-2): March 1997, pp. 3-28) | PWP-038

Severin Borenstein and Andrea Shepard, “Sticky Prices, Inventories, and Market Power in Wholesale Gasoline Markets,” (February 1996, Revised August 2000) (Revised version published in Rand Journal of Economics, Spring 2002) | PWP-037

Severin Borenstein, James Bushnell, Edward Kahn, and Steven Stoft, “Market Power in California Electricity Markets,” (December 1995) (Revised version published in Utilities Policy, 5(3-4): 1995, pages 219-236) | PWP-036

Ross Baldick and Edward Kahn,  “Contract Paths, Phase Shifters, and Efficient Electricity Trade,” (October 1995) (Revised version published in IEEE Transactions on Power Systems, 12(2): May 1997, pages 749-755) | PWP-035

James Bushnell and Steven Stoft, “Electric Grid Investment Under a Contract Network Regime,” (August 1995) (Revised version published in Journal of Regulatory Economics, 10(1): July 1996, pages 61-79) | PWP-034

Matthew White,  “Valuing Market Trading Mechanisms: Evidence from Electricity Markets,” (July 1995) | PWP-033

 Edward Kahn,  “The Electricity Industry in Spain,” (July 1995) (Revised version published in Electricity Journal, 9(2): March 1996, pp. 46-55) | PWP-032

Felix Wu and Pravin Varaiya, “Coordinated Multilateral Trades for Electric Power Networks: Theory and Implementation,” (June 1995) | PWP-031

James Bushnell and Steven Stoft, “Transmission and Generation Investment in a Competitive Electric Power Industry” (May 1995), (Revised version appeared as “Improving Private Incentives for Electric Grid Investment” in Resource and Energy Economics, 19(1-2): March 1997, pp. 85-108.) | PWP-030

Carl Blumstein and Steven Stoft, “Technical Efficiency, Production Functions and Conservation Supply Curves,” (April 1995) (Revised version published in Energy Policy, 23(9): September 1995, pages 765-768) | PWP-029

Steven Stoft, “The Economics of Conserved-Energy ‘Supply’ Curves,” (April 1995) (Revised version published in Energy Journal, 16(4): May 1995, pages 109-137) | PWP-028

Carl Blumstein, Alan Sanstad, and Steven Stoft, “How High Are Option Values In Energy-Efficiency Investments?” (March 1995) (Revised version published in Energy Policy, 23(9): September 1995, pages 739-743) | PWP-027

James Bushnell, Edward Kahn, and Hugh Outhred, “California Energy Commission – Bulk Power Market Study,” (February 1995) | PWP-026

Shmuel Oren, Pablo Spiller, Pravin Varaiya, and Felix Wu, “Nodal Prices and Transmission Rights: A Critical Appraisal” (December 1994) (Revised version published in Electricity Journal, 8(3): April 1995, pages 24-35) | PWP-025

Pablo Spiller, “Implementing Transmission Open Access: with Special Emphasis on Chile’s Experience,” (November 1994) (Revised version published in Journal of Regulatory Economics, 10(1): July 1996, pages 5-23) | PWP-024

Shmuel Oren, Pablo Spiller, Pravin Varaiya, and Felix Wu, “Folk Theorems on Transmission Access: Proofs and Counter Examples,” (October 1994) | PWP-023

Matthew White, “Regulating Bypass,” (August 1994) | PWP-022

James Bushnell and Carl Blumstein, “A Reader’s Guide to the Blue Book: Issues in California’s Electric Industry Restructuring and Regulatory Reform,” (June 1994) (Revised version published in Electricity Journal , 7(7): September 1994, pages 18-29) | PWP-021

James Bushnell and Shmuel Oren, “Incentive Effects of Environmental Adders in Electric Power Auctions,” (March 1994) (Revised version published in Electricity Journal, 15(3): 1994, pages 55-73) | PWP-020

James Bushnell and Eric Friedman, “Linearly Exchangable Permits for the Efficient Control of Multiple Pollutants” (February 1994) | PWP-019

Gil Mehrez and Kenneth Train, “Final Report: Optimal Time-of-Use Prices for Electricity,” (January 1994) | PWP-018

Gil Mehrez and Kenneth Train, “Optional Time-of-Use Prices for Electricity: Econometric Analysis of Surplus and Pareto Impacts,” (December 1993) (Revised version published in Rand Journal of Economics, 25(2): Summer 1994, pages 263-283) | PWP-017

Shmuel Oren and Alva Svoboda, “Integrating Price-Based Resources in Short-term Scheduling of Electric Power Systems,” (November 1993) | PWP-016

Kling, C. and Rubin, J., “An Emission Saved is an Emission Earned: An Empirical Study of Emission Banking” (October 1993) (Revised version published in Journal of Environmental Economics & Management , 25(3): November 1993, pages 257-274) | PWP-015

Edward Kahn, “Regulation by Simulation: The Role of Production Cost Models in Electricity Planning and Pricing,” (June 1994, revised September 1993) (Revised version published in Operations Research, 43(3): May/June 1995, pages 388-398) | PWP-014

Richard Gilbert and Matthew Nagler, “Hazardous Terrain: The Use of Financial Indicators in Utility Regulation,” (August 1993) | PWP-013

Richard Gilbert, Edward Kahn and Matthew White, “The Efficiency of Market Coordination: Evidence from Wholesale Electric Power Pools,” (June 1993) (Revised version published in Electricity Journal, October 1993, pp. 51-59) | PWP-012

Richard Gilbert and Edward Kahn, “Competition and Institutional Change In U.S. Electric Power Regulation” (May 93) (Revised version published in Gilbert, Kahn, eds. International Comparisons of Electricity Regulation , New York: Cambridge University Press, 1996) | PWP-011

Severin Borenstein, “Price Incentives for Fuel Switching: Did Price Differences Slow the Phase-Out of Leaded Gasoline?” (April 1993) | PWP-010

Carl Blumstein, Jeffrey Harris, John Millhone, and Arthur Rosenfeld, “Energy Efficiency RD&D: New Roles For States,” (March 1993) (Revised version published in Energy Policy, 21(12): December 1993, pages 1205-1216) | PWP-009

Richard Gilbert and Michael Riordan,  “Regulating Complementary Products: A Problem of Institutional Choice,” (February 1993) (Revised version published in Rand Journal of Economics, 26(2): Summer 1995, pages 243-256) | PWP-008

Severin Borenstein and Richard Gilbert, “Uncle Sam at the Gas Pump: Causes and Consequences of Regulating Gasoline Distribution,” (January 1993) (Revised version published in Regulation, 16(2): 1993, pages 63-75) | PWP-007

James Bushnell and Shmuel Oren, “Bidder Cost Revelation in Electric Power Auctions,” (December 1992) (Revised version published in Journal of Regulatory Economics, 6(1): February 1994, pages 5-26) | PWP-006

Richard Gilbert and Steven Stoft,  “A Review and Analysis of Electric Utility Conservation Incentives,” (November 1992) (Revised version published in Yale Journal on Regulation, 11(1): Winter 1994, pages 1-42) | PWP-005

Edward Kahn, “Integrating Market Processes Into Utility Resource Planning,” (October 1992) | PWP-004

David Brownstone and Charles Lave,  “Transportation Energy Use,” (September 1992) | PWP-003

Tracy Lewis, “Designing Utility-Tailored Incentive Programs for Energy Efficiency and Conservation,” (September 1992) | PWP-002

Severin Borenstein, A. Colin Cameron, and Richard Gilbert, “Do Gasoline Prices Response Asymmetrically to Crude Oil Price Changes?,” (June 1994) (Revised version published in Quarterly Journal of Economics, 112(1): February 1997, pages 305-339) | PWP-001