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Regulation, efficiency, and competition in the exchange of electricity : first year results from FERC bulk power market experiment / Jan Paul Acton, Stanley M. Besen with the assistance of Toshi Hayashi.
- Format:
- Book
- Government document
- Author/Creator:
- Acton, Jan Paul.
- Series:
- R (Rand Corporation)
- Language:
- English
- Subjects (All):
- Electric utilities--Government policy--United States.
- Electric utilities.
- Interconnected electric utility systems--United States.
- Interconnected electric utility systems.
- Emergency power supply--United States.
- Emergency power supply.
- Physical Description:
- 1 online resource (xvii, 120 pages) : illustrations, maps
- Other Title:
- Regulation, efficiency, & competition in the exchange of electricity
- Place of Publication:
- Santa Monica, CA : RAND Corporation, [1985].
- 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.
- Notes:
- "R-3301-DOE."
- "Prepared for the U.S. Department of Energy."
- "October 1985."
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