first-year results from the FERC bulk power market experiment Acton, Jan Paul. creator author. Besen, Stanley M. author. Hayashi, Toshi. author. Rand Corporation United States Federal Energy Regulatory Commission. United States Department of Energy. text bibliography cau 1985 monographic eng

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xvii, 120 pages : illustrations, maps ; 23 cm 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. Jan Paul Acton, Stanley M. Besen ; with the assistance of Toshi Hayashi. "October 1985." Includes bibliographical references (p. 117-120). Also available on the internet via WWW in PDF format. n-us--- Electric utilities Government policy United States Emergency power supply United States Interconnected electric utility systems United States HD9685.U5 A5857 1985 0833006843 (pbk.) 86102325 http://www.rand.org/pubs/reports/R3301/ http://www.rand.org/pubs/reports/R3301/ CstmoR 920212 rnd000000000047429