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The electric industry in the United States is undergoing fundamental changes; it is transitioning from regulated monopolies to competitive markets offering customer choice. In this process, the states have been in the forefront of considering the changes in the industry structure and regulation. The Energy Information Administration (EIA) spearheaded a project on electric restructuring in the United States. This is the final report prepared under the project. The purpose of the report is to describe and compare the overall restructuring processes that took place in five states through June 30, 1996. The five states are California, Massachusetts, Michigan, New York, and Wisconsin. These are the first major states to consider restructuring or retail wheeling.
The electric industry in the United States is undergoing fundamental changes; it is transitioning from regulated monopolies to competitive markets offering customer choice. In this process, the states have been in the forefront of considering the changes in the industry structure and regulation. The Energy Information Administration (EIA) spearheaded a project on electric restructuring in the United States. This is the final report prepared under the project. The purpose of the report is to describe and compare the overall restructuring processes that took place in five states through June 30, 1996. The five states are California, Massachusetts, Michigan, New York, and Wisconsin. These are the first major states to consider restructuring or retail wheeling.
This volume explores how Texas's groundbreaking program of electricity restructuring has become a model for truly competitive energy markets in the United States. The authors contend that restructuring in Texas has been successful because the industry is free from federal over...
First Published in 1996. Routledge is an imprint of Taylor & Francis, an informa company.
This timely study evaluates four generic proposals for allowing free market forces toreplace government regulation in the electric power industry and concludes that none of thederegulation alternatives considered represents a panacea for the performance failures associatedwith things as they are now. It proposes a balanced program of regulatory reform and deregulationthat promises to improve industry performance in the short run, resolve uncertainties about thecosts and benefits of deregulation, and positions the industry for more extensive deregulation inthe long run should interim experimentation with deregulation, structural, and regulatory reformsmake it desirable.The book integrates modern microeconomic theory with a comprehensive analysis ofthe economic, technical, and institutional characteristics of modern electrical power systems. Itemphasizes that casual analogies to successful deregulation efforts in other sectors of the economyare an inadequate and potentially misleading basis for public policy in the electric power industry,which has economic and technical characteristics that are quite different from those in otherderegulated industries.Paul L. Joskow is Professor of Economics at MIT, author of ControllingHospital Costs (MIT Press 1981) and coauthor with Martin L. Baughman and Dilip P. Kamat of ElectricPower in the United States (MIT Press 1979). Richard Schmalensee, also at MIT, is Professor ofApplied Economics, author of The Economics of Advertising and The Control of Natural Monopolies, andeditor of The MIT Press Series, Regulation of Economic Activity.
Discusses provisions of electric industry restructuring initiatives in Maine, Massachusetts and New Hampshire.