WorldCat Identities

Massachusetts Institute of Technology Center for Energy and Environmental Policy Research

Overview
Works: 393 works in 489 publications in 1 language and 758 library holdings
Classifications: HD9685.P62, 338.9599
Publication Timeline
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Most widely held works by Massachusetts Institute of Technology
Merchant transmission investment by Paul L Joskow( Book )

3 editions published in 2003 in English and held by 9 WorldCat member libraries worldwide

We examine the performance attributes of a merchant transmission investment framework that relies on ₃market driven₄ transmission investment to provide the infrastructure to support competitive wholesale markets for electricity. Under a stringent set of assumptions, the merchant investment model has a remarkable set of attributes that appear to solve the natural monopoly problem and the associated need for regulating transmission companies traditionally associated with electric transmission networks. We expand the merchant model upon which these conclusions are based to incorporate imperfections in wholesale electricity markets, lumpiness in transmission investment opportunities, stochastic attributes of transmission networks and associated property rights definition issues, the effects of the behavior of system operators and transmission owners on transmission capacity and reliability, coordination and bargaining considerations, forward contract, commitment and asset specificity issues. Incorporating these more realistic attributes of transmission networks and the behavior of transmission owners and system operators significantly undermines the attractive properties of the merchant investment model. Relying primarily on a market driven investment framework to govern investment in electric transmission networks is likely to lead to inefficient investment decisions and undermine the performance of competitive markets for electricity. A significant research challenge is to design regulatory mechanisms for system operators and incumbent transmission owners and a better framework for defining transmission property rights that will stimulate efficient investments by regulated incumbent transmission owners and by merchant entrants responding to market opportunities when they are the most efficient suppliers
Diagnosing and mitigating market power in Chile's electricity industry by M. Soledad Arellano( Book )

3 editions published in 2003 in English and held by 9 WorldCat member libraries worldwide

This paper examines the incentives to exercise market power that generators would face and the different strategies that they would follow if all electricity supplies in Chile were traded in an hourly-unregulated spot market. The industry is modeled as a Cournot duopoly with a competitive fringe; particular care is given to the hydro scheduling decision. Quantitative simulations of the strategic behavior of generators indicate that the largest generator ("Endesa") would have the incentive and ability to exercise market power unilaterally. It would do so by scheduling its hydro resources, which are shown to be the real source of its market power, in order to take advantage of differences in price elasticity: too little supply to high demand periods and too much to low demand periods. The following market power mitigation measures are also analyzed: (a) requiring Endesa to divest some of its generating capacity to create more competitors and (b) requiring the dominant generators to enter into fixed price forward contracts for power covering a large share of their generating capacity. Splitting the largest producer in two or more smaller firms turns the market equilibrium closer to the competitive equilibrium as divested plants are more intensely used. Contracting practices proved to be an effective tool to prevent large producers from exercising market power in the spot market. In addition, a more effcient hydro scheduling resulted. Conditions for the development of a voluntary contract market are analyzed, as it is not practical to rely permanently on vesting contracts imposed for the transition period
Why did British electricity prices fall after 1998? by Joanne Evans( Book )

3 editions published in 2003 in English and held by 9 WorldCat member libraries worldwide

In an attempt to reduce high electricity prices in England and Wales the government has reduced concentration among generators and introduced New Electricity Trading Arrangements (NETA). Econometric analysis on monthly data from April 1996 to September 2002 implies support for two conflicting hypotheses. On a static view, increases in competition and the capacity margin were chiefly responsible for the fall in prices. If generators had been tacitly colluding before NETA, however, the impending change in market rules might have changed their behaviour a few months before the abolition of the Pool. That view implies that NETA reduced prices
Lessons from phase 2 compliance with the U.S. Acid Rain Program by A. Denny Ellerman( Book )

2 editions published in 2003 in English and held by 8 WorldCat member libraries worldwide

This paper provides preliminary answers to four questions concerning the behavior of agents operating under the SO2 Allowance Trading Program that could not be adequately answered until several years' data on compliance behavior in the final Phase II could be observed. The four questions are: 1. How is abatement distributed geographically when all fossil-fuel-fired electricity generating units are included? 2. Will agents draw down the accumulated Phase I bank, as expected and more or less efficiently, during Phase II? 3. Is there any evidence that the failure to endow new generating units with allowances constitutes a barrier to entry? 4. What can be said about the cost of the SO2 Allowance Trading Program in Phase II when all units are included and when it is fully phased in?
The difficult transition to competitive electricity markets in the U.S. by Paul L Joskow( Book )

3 editions published in 2003 in English and held by 7 WorldCat member libraries worldwide

This paper provides a comprehensive discussion of the causes and consequences of state and federal initiatives to introduce wholesale and retail competition into the U.S. electricity sector between 1995 and the present. Information about the development of wholesale market institutions, the expansion of wholesale power trade, the performance of wholesale market institutions, the entry of merchant generating capacity, and the financial collapse of the trading and merchant generating sector is presented and discussed. Issues regarding the ability of evolving spot wholesale energy market institutions and market power mitigation mechanisms to provide adequate incentives for investment in new generating capacity in the absence of some form of peak capacity obligation are discussed theoretically and evaluated empirically. The diffusion of retail competition and the performance of retail competition programs in eight states is examined empirically. Imperfections in transmission governance arrangements and barriers to efficient expansion of the transmission network are identified. The analysis leads to the overall conclusion that the development of efficient competitive wholesale and retail electricity markets continues to be a work in progress and faces many technical, institutional and political challenges in the U.S. Suggestions for successfully confronting, or at least better understanding, these challenges are presented
Transmission policy in the United States by Paul L Joskow( Book )

3 editions published between 2004 and 2005 in English and held by 7 WorldCat member libraries worldwide

This paper provides an overview of the development of electric power transmission access, pricing and investment policies in the U.S. over the last 15 years and evaluates the current state of those policies. Pre-liberalization transmission access and pricing policies are reviewed since more recent policies have evolved from them. FERC's efforts to ensure that transmission owning utilities provide non-discriminatory access and pricing to wholesale transmission customers, culminating in Order 888 and 889 are discussed. These rules did not respond to problems created by a highly balkanized transmission system and only partially responded to problems caused by common ownership and operation of transmission networks with generating and marketing businesses in the same regions. These problems motivated FERC to seek to create Regional Transmission Organizations (RTO) meeting a long list of criteria related to governance, network consolidation, network operations, transmission pricing and investment as reflected in Order 2000. The slow pace of "voluntary" reform following Order 2000 led FERC to issue a proposed Standard Market Design Rule (SMD) which provided more detailed prescriptions for wholesale market design, network operations, regional planning, resource adequacy, and transmission investment. The SMD rule confronted enormous resistance from groups of utilities and states that have not embraced an electricity sector liberalization agenda. However, many of the provisions of the SMD are being implemented by the RTOs and ISOs in the Northeast and Midwest. PJM's market rules and transmission pricing, planning and investment policies are reviewed as an articulation of FERC's RTO and SMD visions
Market-based investment in electricity transmission networks : controllable flow by Gert Brunekreeft( Book )

2 editions published in 2003 in English and held by 7 WorldCat member libraries worldwide

Reform and regulation of the electricity sectors in developing countries by Tooraj Jamasb( Book )

1 edition published in 2002 in English and held by 6 WorldCat member libraries worldwide

Technical efficiency in electricity generation : the impact of smallness and isolation of island economies by Preetum Domah( Book )

1 edition published in 2002 in English and held by 6 WorldCat member libraries worldwide

A comparison of electricity market designs in networks by Andreas Ehrenmann( Book )

2 editions published in 2003 in English and held by 6 WorldCat member libraries worldwide

Regulated and merchant interconnectors in Australia : SNI and Murraylink revisited by Stephen C Littlechild( Book )

2 editions published in 2004 in English and held by 6 WorldCat member libraries worldwide

Auctions to gas transmission access : the British experience by Tanga McDaniel( Book )

2 editions published in 2002 in English and held by 6 WorldCat member libraries worldwide

When access to monopoly owned networks is constrained auctioning access rights can increase the efficiency of allocations relative to negotiation and grandfathering when there is sufficient competition among network users. Historically, access rights to entry capacity on the British gas network were granted by the monopoly network owner via negotiation; rights were later based on regulated tariffs with an increasing reliance on market based constraint resolution by the system operator. In 1999 an auction mechanism for allocating rights was introduced. Comparing the different allocation methods we conclude that where there is competition at entry terminals auctions have been successful with respect to anticipating spot prices, capturing producer rents and reducing the costs of alleviating network constraints. Moreover, auctions are more transparent and better facilitate entry
Emissions trading under the U.S. acid rain program : evaluation of compliance costs and allowance market performance( Book )

2 editions published in 1997 in English and held by 6 WorldCat member libraries worldwide

Introducing competition in the French electricity supply industry : the destabilisation of a public hierarchy in an open institutional environment by Dominique Finon( Book )

2 editions published between 2002 and 2003 in English and held by 6 WorldCat member libraries worldwide

(Cont.) 2. the enforcement of the credibility of the regulatory framework by the self control of the incumbent on the use of its dominant position and on the capture of the regulator, This two effects results from the influence of the European institutional environment which is superposed to the national one, in particular under the intensive scrutiny of the European Commission, on a model far behind the competitive model. The paper concludes to the originality of such an institutional model : a permanent regulatory threat on the incumbent for balancing the effects of public property and integration of industrial structures. In other words it would not only be the industrial structures which determine the market players₂ behaviour but also the credibility of market rules and their enforcement by the regulatory threat and the self control of the incumbent. This paper has been presented at the 2002 annual Conference of the International Society for New Institutional Economics (ISNIE) held in Cambridge (Mass.) on September 27-29. The author thanks Paul Joskow and Jean- Michel Glachant for their useful comments on the draft version
Allocating transmission to mitigate market power in electricity networks by Richard Gilbert( Book )

1 edition published in 2002 in English and held by 6 WorldCat member libraries worldwide

Welfare impacts of electricity generation sector reform in the Philippines by Natsuko Toba( Book )

1 edition published in 2003 in English and held by 6 WorldCat member libraries worldwide

This paper reports an empirical investigation into the welfare impacts of introduction of private sector participation into the Philippine electricity generation sector, through liberalization of the market for independent power producers (IPPs) during the power crisis of 1990-1993. This study uses a social cost and benefit analysis. The main benefits came from IPPs, which contributed to resolving the crisis and promoted economic and social development. Consumers and investors are net gainers, while the government lost and an air pollution cost was incurred. The paper concludes that reform with private sector participation increased social welfare
Distributed generation versus centralised supply : a social cost-benefit analysis by Francesco Gullì( Book )

2 editions published in 2003 in English and held by 6 WorldCat member libraries worldwide

Electricity market reform in the European Union : review of progress towards liberalisation and integration by Tooraj Jamasb( Book )

2 editions published between 2004 and 2005 in English and held by 5 WorldCat member libraries worldwide

The energy market liberalisation process in Europe is increasingly focused on electricity market integration and related cross border issues. This signals that the liberalisation of national electricity markets is now closer to the long-term objective of a single European energy market. The interface between the national electricity markets requires physical interconnections and technical arrangements. However, further progress towards this objective also raises important issues regarding the framework within which the integrated market is implemented. This paper reviews the progress towards a single European electricity market. We then discuss the emerging issues of market concentration, investments, and security of supply as well as some aspects of market design and regulation that are crucial for dynamic performance of a single European market
Large scale deployment of renewables for electricity regeneration by Karsten Neuhoff( Book )

2 editions published in 2004 in English and held by 5 WorldCat member libraries worldwide

Modelling the costs of electricity regulation : evidence of human resource constraints in developing countries by Preetum Domah( Book )

1 edition published in 2002 in English and held by 5 WorldCat member libraries worldwide

 
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Alternative Names

controlled identityMassachusetts Institute of Technology. Center for Energy Policy Research

controlled identityMassachusetts Institute of Technology. Department of Economics

controlled identityMassachusetts Institute of Technology. Laboratory for Energy and the Environment

controlled identitySloan School of Management

CEEPR

Massachusetts Institute of Technology Cambridge, Mass Center for Energy and Environmental Policy Research

Massachusetts Institute of Technology Center for Energy and Environmental Policy Research

Massachusetts Institute of Technology. Department of Economics. Center for Energy and Environmental Policy Research

Massachusetts Institute of Technology. Laboratory for Energy and the Environment. Center for Energy and Environmental Policy Research

MIT-CEEPR

MIT Center for Energy and Environmental Policy Research

Sloan School of Management Center for Energy and Environmental Policy Research

Languages
English (40)