The California Electricity Crisis What, Why, and What’s Next
This book attempts to explain what went wrong in California’s restructured energy markets and what must be done to restore California’s economy and build new electricity systems. The intention here is to reconcile the principles of competition and regulation. California had a severe electricity cris...
| Main Authors: | , , |
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| Format: | eBook |
| Language: | English |
| Published: |
New York, NY
Springer US
2004, 2004
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| Edition: | 1st ed. 2004 |
| Subjects: | |
| Online Access: | |
| Collection: | Springer Book Archives -2004 - Collection details see MPG.ReNa |
Table of Contents:
- Power Production Economics
- Principles of Traditional Regulation
- Reconciling Marginal Cost and Revenue Requirements
- Competitive Wholesale Markets for Electricity
- California’s Market Design: an Initial Success Followed by a “Perfect Storm”
- Design Flaws and a Worsening Crisis
- Testable Hypothesis
- Survey of Electricity Models for California
- An Economic Analysis of Natural Gas Price Movements During the Crisis
- An Econometric Analysis of Electricity Prices in California
- Market Manipulation
- Gaming and Cheating
- Market Monitoring and Initial Regulatory Response
- Refunds and Mitigation
- California Responds
- Handicapping the Winners
- Conclusion: Wrapping Up and Lessons Learned