Essays On Regulations In The Electricity Industry
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Essays On Regulations In The Electricity Industry
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Author : Yaran Jin
language : en
Publisher:
Release Date : 2017
Essays On Regulations In The Electricity Industry written by Yaran Jin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
In this dissertation, I study the welfare consequences of environmental and price regulations in the electricity industry. I address two important questions. One is that what are the welfare consequences of allowing firms to self-select between different types of environmental regulations. Another is how does the choice of transmission congestion pricing structure affect the emission externalities and fuel efficiency in the wholesale markets. I answer these questions by exploring several policy experiments in the state of Texas in the United States. The first chapter is a general introduction to the Texas electricity industry and the conceptual framework of analysis in this dissertation. It consists of the institutional details of the industry, including market organizations, transmission congestion pricing structures, and emission regulations. Based on the institutional details, I discuss the theoretical implications and propose the empirical hypothesis for above research questions. In the second chapter, I evaluate the welfare consequences of allowing firms to self-select between cap-and-trade regulation and intensity standards using the data from a unique voluntary NO [subscript x] emission cap-and-trade program in Texas from 2001 to 2005. The welfare evaluation focuses on the effects of such mixed policy instruments on emissions, industry profits, and market exit. I construct and estimate a structural model of power generating units equilibrium choices of policy instrument, emission abatement, and production to recover their abatement costs. With the estimated parameters, I simulate the equilibrium outcomes under a counterfactual mandatory cap-and-trade regulation. Results reveal that the mixed policy framework mainly benefits small and high-cost generating units. However, the aggregate emissions are lower and the aggregate profits are higher under the mandatory cap-and-trade regulation. I also document that the mixed policy instruments lead to a higher exit rate of older generating units. In the year 2010, the Electric Reliability Council of Texas (ERCOT) changed from a zonal market structure to a nodal market structure to incorporate the cost of transmission congestion into the wholesale price. The third chapter compares the emission intensities and fuel efficiency of power generating units in the ERCOT before and after this regulatory change, to investigate its efficiency and environmental impacts in the congested areas. I find that the new nodal market structure has heterogeneous impacts on areas with different causes of transmission congestion. For counties located along the path to transferring wind generation from west Texas to east Texas, the nodal pricing leads to increases in emissions from fossil-fired power plants, although the total increase in emission cost is not economically significant. Contrarily, the nodal pricing increases the fuel efficiency by 2-9.6% for power plants located around congested areas with excess load, and the estimated fuel cost saving is around $154.8m. The results provide important policy implications for future transmission network planning.
Essays On Network Regulation
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Author : Christian Growitsch
language : de
Publisher: Nomos Verlagsgesellschaft
Release Date : 2006
Essays On Network Regulation written by Christian Growitsch and has been published by Nomos Verlagsgesellschaft this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Electric utilities categories.
This collection of energy economic essays aims at the exchange of experiences of different European regulation regimes. For this purpose, the so-called negotiated network-access of the German electricity market is introduced in two essays. A third essay analyzes the quality-supply of electricity companies compared to other European countries.
Competition And Regulation In Electricity Markets
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Author : Sebastian Eyre
language : en
Publisher:
Release Date : 2016
Competition And Regulation In Electricity Markets written by Sebastian Eyre and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Competition categories.
Featuring an original introduction by the editors, these carefully-selected essays explore the main issues surrounding competition and regulation in electricity markets. The industry is experiencing irresistible forces of change, driven by energy policy objectives; a reassessment of market regulation in the face of high-energy prices; and the response to consumer pressure to agree on what constitutes a fair price for energy. This volume identifies the key articles that underpin the debate across the industries supply chain (generation, supply and networks) from a regulatory perspective (including market power and incentive regulation). The collection then considers the overall impact of liberalisation and future developments.
Essays On Environmental Regulations In Electricity Markets
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Author : Yanming Sun
language : en
Publisher:
Release Date : 2013
Essays On Environmental Regulations In Electricity Markets written by Yanming Sun and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Reducing the Greenhouse Gas pollution and promoting energy efficiency among consumers' energy use have been major public policy issues recently. Currently, both the United States and the European Union have set up explicit percentage requirements that require energy generators or consumers to undertake a certain percentage of their energy production or consumption from renewable sources. To achieve their renewable targets, the Tradable Green Certificates (TGC) system has been introduced in their electricity markets. Moreover, in order to promote energy conservation and achieve energy efficiency targets, price policies and price changes derived from environmental regulations have played a more important role in reducing electricity consumption. My research studies problems associated with these policy implementations. In Chapter 1, I analyze a competitive electricity market with two countries operated under a common TGC system. By using geometric illustrations, I compare the two countries' welfare when the renewable quota is chosen optimally under the common certificate market with three different situations. The policy recommendation is that when the value of damage parameter is sufficiently small, full integration with a TGC market is welfare superior to full integration of an all fossil-fuel based market with an optimal emissions standard. In Chapter 2, by analyzing a stylized theoretical model and numerical examples, I investigate the performance of the optimal renewables policy under full separation and full integration scenarios for two countries' electricity markets operated under TGC systems. In my third chapter, I look at residential electricity consumption responsiveness to increases of electricity price in the U.S. and the different effect of a price increase on electricity use for states of different income levels. My analysis reveals that raising the energy price in the short run will not give consumers much incentive to adjust their appliances and make energy conservation investments to reduce electricity use, while in the long run, consumers are more likely to lower their electricity consumption, facing the higher electricity price induced from regulation policies. In addition, for states of higher per capita GDP, raising the electricity price may be more effective to ensure a cut in electricity consumption.
The Regulation Of Power Exchanges In Europe
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Author : Martha M. Roggenkamp
language : en
Publisher: Intersentia nv
Release Date : 2005
The Regulation Of Power Exchanges In Europe written by Martha M. Roggenkamp and has been published by Intersentia nv this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Electric power distribution categories.
The liberalisation of the electricity sector has changed the way in which electricity is traded. De facto or legal vertical monopolies are gradually abandoned and new participants have entered the market. At the wholesale level, one of the important developments is the establishment of organised electricity markets, i.e. electricity power exchanges. This book analyses the role and evaluates the impact of these new organised markets, which until now received little attention. The introduction provides an overview of the developments on EC level as this creates the legal environment within which power exchanges operate. The implementation of the EC Electricity Directive has inter alia resulted in a commodization of electricity trading. Thereupon the development of power pools and electricity exchanges is discussed as well as the products which can be traded. Subsequently, the development of the most important national and/or regional exchanges in Europe will be examined. National experts will analyse the role of power exchanges in the Nordic countries, the United Kingdom, the Netherlands, Germany, France, Austria, Spain and Italy. The authors analyse the most important developments in their jurisdictions according to a fixed outline (e.g. implementation of the EC Electricity Directive, market structure, emergence and functioning of the organised market, products traded and the impact of cross-border trade) which allows for a comparative analysis and facilitates understanding. Finally, some conclusions with regard to the establishment of a single electricity market will be presented as well as some future developments.
Electricity Restructuring
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Author : John Carlson
language : en
Publisher: Nova Publishers
Release Date : 2002
Electricity Restructuring written by John Carlson and has been published by Nova Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.
Five essays examine issues of restructuring of electricity markets and regulations. The authors generally acknowledge that total deregulation could have disastrous consequences and promote a hybrid restructuring that takes into account certain concerns related to air pollution and consumer rights. Also included are abstracts of 18 journal papers on the same topic. Annotation copyrighted by Book News, Inc., Portland, OR
Economic Regulation
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Author : Kenneth D. Boyer
language : en
Publisher:
Release Date : 1981
Economic Regulation written by Kenneth D. Boyer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Industrial policy categories.
Essays In Environmental And Energy Economics
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Author : Joshua Blonz
language : en
Publisher:
Release Date : 2005
Essays In Environmental And Energy Economics written by Joshua Blonz and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
This dissertation combines research on three topics in applied Energy and Environmental Economics related to the electricity industry. In the first paper, I study the economic welfare impact of an electricity pricing program that increases the price of electricity for small commercial and industrial customers when the cost of generation is high. The second paper explores an energy efficiency retrofit program that provides free upgrades to low-income households in California. Both of these policy interventions were a result of orders from the California Public Utilities Commission, the energy regulator in California. The final paper examines the cost of air quality regulations on employment in the coal mining sector in Appalachia. These three papers study different important aspects of the electricity sector, from upstream regulation of generation to end use pricing and consumption efficiency. In the first chapter, I study how in electricity markets, the price paid by retail customers during periods of peak demand is far below the cost of supply. This leads to overconsumption during peak periods, requiring the construction of excess generation capacity compared to first-best prices that adjust at short time intervals to reflect changing marginal cost. In this paper, I investigate a second-best policy designed to address this distortion, and compare its effectiveness to the first-best. The policy allows the electricity provider to raise retail price by a set amount (usually 3 to 5 times) during the afternoon hours of a limited number of summer days (usually 9 to 15). Using a quasi-experimental research design and high-frequency electricity consumption data, I test the extent to which small commercial and industrial establishments respond to this temporary increase in retail electricity prices. I find that establishments reduce their peak usage by 13.4% during peak hours. Using a model of capacity investment decisions, these reductions yield $154 million in welfare benefits, driven largely by reduced expenditures on power plant construction. I find the current policy provides of the first-best benefits but that, with improvements in targeting just the days with the highest demand, a modified peak pricing program could achieve 80% welfare gains relative to the first-best pricing policy. In the second chapter, I study energy efficiency retrofits programs, which are increasingly being used to both save on energy bills and as a carbon mitigation strategy. This paper evaluates the California Energy Savings Assistance program, which provides no-cost upgrades to low-income households across the state. I use quasi-experimental variation in program uptake to measure energy savings for a large portion of the treated population in the San Diego Gas & Electric service territory between 2007 and 2012. The results suggest that the overall program is ineffective at delivering energy savings and is not cost-effective. One challenge in implementing efficiency retrofit programs is that each upgrade must be customized to the housing unit on which it is installed. As a consequence, there is a wide range in efficiency upgrade potential across the population of candidate households. To better understand this heterogeneity in measure installation and its potential to drive program outcomes, I use discontinuities in program rules to identify key measure specific savings. This analysis shows that larger upgrades such as refrigerator replacements do provide cost-effective savings when considering the full set of social benefits. Households that do not receive larger upgrades generally see little or no savings. These results suggest that heterogeneity in upgrade potential can drive overall program outcomes when only a small portion of the treated population is eligible for cost-effective efficiency upgrades. In the third chapter, I study the costs of Title IV of the Clean Air Act. This regulation put a cap on sulfur emissions from electric power plants, which reduced the demand for high-sulfur coal. Using a quasi-experimental research design, I estimate how coal mine employment and production in high-sulfur coal-producing counties were impacted by the regulation by comparing them to neighboring counties that produced low-sulfur coal. I find that coal production dropped by 20% and coal sector employment dropped by 14%. I find no evidence of spillovers to employment or wages in the non-coal sectors of the high-sulfur coal counties. The results suggest that the coal sector employment costs of Title IV of the Clean Air Act are highly concentrated in the coal industry, and that the decline does not detectably impact the overall regional economy.
International Comparisons Of Electricity Regulation
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Author : Richard J. Gilbert
language : en
Publisher: Cambridge University Press
Release Date : 1996-05-31
International Comparisons Of Electricity Regulation written by Richard J. Gilbert and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-05-31 with Business & Economics categories.
This book offers the most comprehensive characterization assembled to date of the historical, institutional, and economic forces affecting electricity regulation. Eminent economists organized by the University of California Energy Institute survey the US, UK, Scandanavia, Latin America, France, Germany, Japan, Canada, New Zealand, and Yugoslavia. Recent experiments with privatization, competition, and restructuring in electricity are contrasted with instances where government ownership and traditional vertical integration still dominate. The introductory essay by Richard J. Gilbert, Edward P. Kahn, and David Newbery synthesizes individual country studies.
Sustainable Energy And The States
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Author : Dianne Rahm
language : en
Publisher: McFarland
Release Date : 2014-11-18
Sustainable Energy And The States written by Dianne Rahm and has been published by McFarland this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-18 with Political Science categories.
With America’s dependence on fossil fuels painfully apparent due to world events and the resultant sharply rising gas prices, the search for renewable energy sources has never been more important. Still, the quest for sustainable energy is far from new. Since passage of the National Energy Act of 1978, states and the federal government have encouraged technological advances designed to make the United States self-sufficient when it comes to energy production. Government incentives and global-minded policymakers encourage development of alternative energy sources. While addressing the national issues of global climate change and energy security, the idea of sustainable energy must also find a way to appeal to an increasingly competitive market. Through nine case studies, this volume explores the roles which politics, market forces and leadership play as barriers or facilitators in the development of sustainable energy sources. Beginning with an overview of energy-related programs and legislation including the National Energy Act of 1978 and the Energy Policy acts of 1992 and 2005, the book discusses the various financial programs and policy mechanisms used by the states. Each of the nine essays examines sustainable energy development within a particular state or region. The importance of the political climate, the impact of free markets and the value of effective leadership with regard to this particular technological development remains a common thread. Topics such as the perceived effectiveness of state and federal governmental efforts and prevalent attitudes regarding renewable energy are also discussed. Each essay includes an in-depth bibliography with many website resources to encourage further research. Statistical tables are also provided. Instructors considering this book for use in a course may request an examination copy here.