Relative Efficiency Benefits of Wholesale and Retail Competition in Electricity PDF Download

Author: Douglas R. Bohi
Publisher:
ISBN:
Category : Electric utilities
Languages : en
Pages : 41

View

Book Description
A central issue in the debate over restructuring the electric power industry is the extent to which the market should be open to competition. One aspect of this debate is whether competition ought to be restricted to the wholesale power market or be extended to final retail consumers. This report begins to explore the potential differences in economic efficiency between wholesale and retail competition in the electric power industry. The two market-structure scenarios are defined and the factors responsible for differences in efficiency are described. The report also contains an assessment of the relative importance of the factors and recommendations for pursuing further research.

Author: Douglas R. Bohi
Publisher:
ISBN:
Category : Electric utilities
Languages : en
Pages : 41

View

Book Description
A central issue in the debate over restructuring the electric power industry is the extent to which the market should be open to competition. One aspect of this debate is whether competition ought to be restricted to the wholesale power market or be extended to final retail consumers. This report begins to explore the potential differences in economic efficiency between wholesale and retail competition in the electric power industry. The two market-structure scenarios are defined and the factors responsible for differences in efficiency are described. The report also contains an assessment of the relative importance of the factors and recommendations for pursuing further research.

Author: Huaiguang Jiang
Publisher: Academic Press
ISBN: 012820169X
Category : Technology & Engineering
Languages : en
Pages : 389

View

Book Description
New Technologies for Power System Operation and Analysis considers the very latest developments in renewable energy integration and system operation, including electricity markets and wide-area monitoring systems and forecasting. Helping readers quickly grasp the essential information needed to address renewable energy integration challenges, this new book looks at basic power system mathematical models, advanced renewable integration and system optimizations from transmission and distribution system sides. Sections cover wind, solar, gas and petroleum, making this a useful reference for all engineers interested in power system operation. Includes codes in MATLAB® and Python Provides a complete analysis of all new and relevant power system technologies Covers the impact on existing power system operations at the advanced level, with detailed technical insights

Author: Frank A. Wolak
Publisher: Springer Nature
ISBN: 3030850056
Category : Business & Economics
Languages : en
Pages : 174

View

Book Description
This book covers the current trends and challenges faced by regulators, policymakers, and researchers in the field of retail electricity market design and regulation. It addresses the role that “smart” technologies are playing in reshaping how utilities and consumers interact with each other and with their generating technologies. The book covers topics including smart meter adoption, dynamic pricing, demand response, distributed and utility-scale solar, technology costs trends, and the microeconomic theory that governs our understanding of retailer and consumer incentives. Existing inefficiencies of transmission and distribution network pricing as well as the potential regulatory approaches that can be used to remedy them are discussed along with the advantages of retail competition and draw attention to the barriers that currently are preventing all of the benefits of retail competition from materializing. The book uses very recent data to provide the most up-to-date overview of retailing trends and policies in the USA, Europe, Asia, Oceania, and Latin America. The book will be useful for researchers and regulators and policymakers.

Author: Paul L. Joskow
Publisher:
ISBN:
Category :
Languages : en
Pages : 57

View

Book Description
(Cont.) The availability of BES helps to channel ESP competitive efforts toward providing value added services such as real time metering and control, energy management contracts, risk hedging and forward contracting, green power and other services. This is the strategy that the most successful ESPs are pursuing. A successful retail competition program can have additional social benefits by helping to improve the performance of wholesale markets. However, efforts to use creamy "shopping credits" to subsidize ESPs are misguided, raising both efficiency and equity concerns. The success of retail competition should be judged by the new value added services it brings to the system, not by the number of customers who switch to ESPs from BES and similar default services. Regulators who focus on retail switching statistics and who are subsidizing customer switching are likely to be making residential consumers worse off than they would be if BES had been made available to them by their UDC.

Author: United States. Congress. Senate. Committee on Energy and Natural Resources
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 106

View

Book Description

Author: Panagiotis Tsangaris
Publisher: Springer
ISBN: 3662555131
Category : Law
Languages : en
Pages : 213

View

Book Description
This book examines the issue of capacity withdrawals in the electricity wholesale market. Electricity generators can exercise market power in the wholesale market either by withdrawing generation capacity, or by pricing above competitive levels in order to achieve a higher market price and, thereby, increase revenues. After a comprehensive explanation of capacity withdrawal practices and the issues that arise when proceeding under competition law, the book analyses whether an increased state of transparency, as provided for in the REMIT and Regulation 543/2013, could facilitate the efficient functioning of electricity wholesale markets and the investigation of capacity withdrawal practices. It also examines the effect of the prohibition of market manipulation as prescribed in the REMIT in dealing with abusive capacity withdrawals in the electricity wholesale market.

Author: Fereidoon Sioshansi
Publisher: Elsevier
ISBN: 0080557716
Category : Technology & Engineering
Languages : en
Pages : 625

View

Book Description
After 2 decades, policymakers and regulators agree that electricity market reform, liberalization and privatization remains partly art. Moreover, the international experience suggests that in nearly all cases, initial market reform leads to unintended consequences or introduces new risks, which must be addressed in subsequent “reform of the reforms. Competitive Electricity Markets describes the evolution of the market reform process including a number of challenging issues such as infrastructure investment, resource adequacy, capacity and demand participation, market power, distributed generation, renewable energy and global climate change. Sequel to Electricity Market Reform: An International Perspective in the same series published in 2006 Contributions from renowned scholars and practitioners on significant electricity market design and implementation issues Covers timely topics on the evolution of electricity market liberalization worldwide

Author: Frank A. Wolak
Publisher: World Bank Publications
ISBN:
Category : Electric power
Languages : en
Pages : 27

View

Book Description
"This paper first describes those features of the electricity supply industry that make a prospective market monitoring process essential to a well-functioning wholesale market. Some of these features are shared with the securities industry, although the technology of electricity production and delivery make a reliable transmission network a necessary condition for an efficient wholesale market. These features of the electricity supply industry also make antitrust or competition law alone an inadequate foundation for an electricity market monitoring process.

Author: Paul L. Joskow
Publisher:
ISBN:
Category : Competition
Languages : en
Pages : 60

View

Book Description
We analyze a number of unstudied aspects of retail electricity competition. We first explore the implications of load profiling of consumers whose traditional meters do not allow for measurement of their real time consumption, when consumers are homogeneous up to a scaling factor. In general, the combination of retail competition and load profiling does not yield the second best prices given the non price responsiveness of consumers. Specifically, the competitive equilibrium does not support the Ramsey two-part tariff. By contrast, when consumers have real time meters and are billed based on real time prices and consumption, retail competition yields the Ramsey prices even when consumers can only partially respond to variations in real time prices. More complex consumer heterogeneity does not lead to adverse se1ection and competitive screening behavior unless consumers have real time meters and are not rational. We then examine the incentives competitive retailers have to install one of two types of advanced metering equipment. Competing retailers overinvest in real time meters compared to the Ramsey optimum, but the investment incentives are constrained optimal given load-profiling and retail competition. Finally, we consider the effects of physical limitations on the ability of system operators to cut off individual customers. Competing retailers have no incentive to determine the aggregate value of non-interruption of consumers in the zones they serve, preferring instead to free ride on other retailers serving consumers in the same zones. JEL Classifications: L1, L9, L5.