02641cam a2200433 i 4500 rnd000000000047429 RAND 920212s1985 cauab b 000 0 eng d 86102325 0833006843 (pbk.) RAND/R-3301-DOE (Sirsi) a188549 $30.00 CstmoR CstmoR n-us--- HD9685.U5 A5857 1985 Acton, Jan Paul. author. Regulation, efficiency, and competition in the exchange of electricity : first-year results from the FERC bulk power market experiment / Jan Paul Acton, Stanley M. Besen ; with the assistance of Toshi Hayashi. Santa Monica, CA : RAND, 1985. xvii, 120 pages : illustrations, maps ; 23 cm text txt rdacontent computer c rdamedia unmediated n rdamedia online resource cr rdacarrier volume nc rdacarrier "October 1985." Includes bibliographical references (p. 117-120). This report presents the results of RAND's analysis of data from the first year of the Federal Energy Regulatory Commission's (FERC) Southwest bulk electric power market experiment. In successive sections, the authors describe current FERC regulation of transactions among electric utilities; develop a simple conceptual model of the economics of bulk power exchanges; discuss the effects of current regulation on the behavior of utilities in this model; describe the six utilities participating in the FERC experiment; and present efficiency and competitive analyses based on a paradigm of a hypothetical competitive and frictionless market consisting of the six participating utilities. The authors report mixed findings with respect to efficiency, and inconclusive results of the analysis of competitiveness. They suggest that refining the analytic technique and analyzing the second year of experimental data will be beneficial. Also available on the internet via WWW in PDF format. Description based on print version record. Electric utilities Government policy United States. Emergency power supply United States. Interconnected electric utility systems United States. Besen, Stanley M. author. Hayashi, Toshi. author. Rand Corporation. United States. Federal Energy Regulatory Commission. United States. Department of Energy. Online Access http://www.rand.org/pubs/reports/R3301/ 599565 599565