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Measuring Market Inefficiencies in California's Restructured Wholesale Electricity Market
- S. Borenstein, J. Bushnell, F. Wolak
- Economics
- 1 June 2002
We present a method for decomposing wholesale electricity payments into production costs, inframarginal competitive rents, and payments resulting from the exercise of market power. Using data from…
An Empirical Analysis of the Potential for Market Power in California&Apos;S Electricity Industry
- S. Borenstein, J. Bushnell
- Economics
- 1 March 1998
We use demand and plant-level cost data to simulate competition in a restructured California electricity market. This approach recognizes that firms might have an incentive to restrict output in…
Vertical Arrangements, Market Structure, and Competition: An Analysis of Restructured U.S. Electricity Markets
- J. Bushnell, E. Mansur, Celeste Saravia
- Economics
- 15 February 2005
This paper examines vertical arrangements in electricity markets. Vertically integrated wholesalers, or those with long-term contracts, have less incentive to raise wholesale prices when retail…
The Competitive Effects of Transmission Capacity in a Deregulated Electricity Industry
- S. Borenstein, J. Bushnell, S. Stoft
- Economics
- 1 November 1997
In an unregulated electricity generation market, the capacity of transmission lines will determine the degree to which generators in different locations compete with one another. We show, however,…
Vertical Arrangements, Market Structure, and Competition an Analysis of Restructured U.S. Electricity Markets
- J. Bushnell, E. Mansur, Celeste Saravia
- Economics
- 1 October 2007
This paper examines vertical arrangements in electricity markets. Vertically integrated wholesalers, or those with long-term contracts, have less incentive to raise wholesale prices when retail…
Oligopoly equilibria in electricity contract markets
- J. Bushnell
- Economics
- 29 August 2005
This paper examines the implications of forward contracting on oligopoly environments by extending the model of Allaz and Vila to an environment with multiple firms and increasing marginal cost.…
Market Power in Electricity Markets: Beyond Concentration Measures
- S. Borenstein, J. Bushnell, C. Knittel
- Economics
- 25 October 1999
The wave of electricity market restructuring both within the United States and abroad has brought the issue of horizontal market power to the forefront of energy policy. Traditionally, estimation and…
A Mixed Complementarity Model of Hydrothermal Electricity Competition in the Western United States
- J. Bushnell
- EconomicsOper. Res.
- 15 January 2003
TLDR
The U.S. Electricity Industry after 20 Years of Restructuring
- S. Borenstein, J. Bushnell
- Economics
- 1 April 2015
Electricity restructuring in the 1990s ended the era of vertically integrated monopolies in many states, allowing nonutility generators to sell electricity to utilities and, in fewer states, allowing…
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