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.

By:

Acton, Jan Paul [author.]

Contributor(s):

Publisher: Santa Monica, CA : RAND, 1985Description: xvii, 120 pages : illustrations, maps ; 23 cmContent type:

text

Media type:

computer
unmediated

Carrier type:

online resource
volume

ISBN:

0833006843 (pbk.)

Subject(s):

LOC classification:

HD9685.U5 A5857 1985

Online resources:

Online Access

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Also available on the internet via WWW in PDF format.

Summary: 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.

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"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.