2004

The California Electricity Crisis: What, Why, and What’s Next

Authors:

ISBN: 978-1-4020-7692-3 (Print) 978-1-4020-8032-6 (Online)

Table of contents (18 chapters)

  1. No Access

    Book Chapter

    Pages 1-4

    Introduction

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    Book Chapter

    Pages 5-13

    Power Production Economics

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    Book Chapter

    Pages 15-23

    Principles of Traditional Regulation

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    Book Chapter

    Pages 25-45

    Reconciling Marginal Cost and Revenue Requirements

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    Book Chapter

    Pages 47-52

    Competitive Wholesale Markets for Electricity

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    Book Chapter

    Pages 53-62

    California’s Market Design: an Initial Success Followed by a “Perfect Storm”

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    Book Chapter

    Pages 63-70

    Design Flaws and a Worsening Crisis

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    Book Chapter

    Pages 71-73

    Testable Hypothesis

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    Book Chapter

    Pages 75-83

    Survey of Electricity Models for California

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    Book Chapter

    Pages 85-102

    An Economic Analysis of Natural Gas Price Movements During the Crisis

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    Book Chapter

    Pages 103-125

    An Econometric Analysis of Electricity Prices in California

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    Book Chapter

    Pages 127-136

    Market Manipulation

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    Book Chapter

    Pages 137-145

    Gaming and Cheating

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    Book Chapter

    Pages 147-157

    Market Monitoring and Initial Regulatory Response

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    Book Chapter

    Pages 159-171

    Refunds and Mitigation

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    Book Chapter

    Pages 173-184

    California Responds

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    Book Chapter

    Pages 185-193

    Handicapping the Winners

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    Book Chapter

    Pages 195-201

    Conclusion: Wrapping Up and Lessons Learned