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Other titles in the International Series in Operations Research & Management Science series:

International Series in Operations Research & Management Science #13: Designing Competitive Electricity Markets

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International Series in Operations Research & Management Science #13: Designing Competitive Electricity Markets Cover

 

Synopses & Reviews

Publisher Comments:

As electric restructuring spreads rapidly across countries and states, leading industry experts are increasingly concerned that in many instances policy makers are pushing their proposals into practice more quickly than policy analysts can provide answers to difficult questions of market design. In this process, different structures for organizing this industry are evolving without a firm basic understanding of their implications for long-term market performance. There is a risk that, in the process, we may be inadvertently locked into an inferior market design that will be costly to change. Designing Competitive Electricity Markets develops some guiding principles to be used when evaluating alternative proposals for reorganizing the US electric power industry. Preliminary versions of the papers in this book were presented at a Workshop convened by the Electric Power Research Institute and held at Stanford University in March 1997. The authors are prominent economists, operation researchers, and engineers who have been instrumental in the development of the conceptual framework for electric power restructuring both in the United States and in other countries. Rather than espousing a particular market design for the industry's future, each author focuses on an important issue or set of issues and tries to frame the questions for designing electricity markets using an international perspective. The book focuses on the economic and technical questions important in understanding the industry's long-term development rather than providing immediate answers for the current political debates on industry competition. Extensive issues are covered, including: the role of the system operator; the problems of ensuring longer-term investment in expanding the transmission system, and in industry research and development; the problems in pricing that are created by arbitrarily segmenting related markets; the relationship between efficiency in the near and long term; ownership rights and incentives; and designing experiments to better understand the operation of different auction mechanisms. The intended audience for this volume includes policy-makers, policy-oriented academics, and corporate leaders with an interest in designing workable and more efficient electricity markets. The arguments in each chapter are based upon sound economic principles but do not require expertise in mathematical modeling or technical economic analysis.

Book News Annotation:

Contains new versions of papers from a March 1997 workshop held at Stanford University, convened by the Electric Power Research Institute. They develop guidelines for evaluating alternative proposals for reorganizing the US electric power industry, focusing on economic and technical questions important in understanding the industry's long-term development. Issues covered include the role of the system operator, ensuring longer-term investment in expanding the transmission system, and pricing problems created by arbitrarily segmented related markets. Of interest to policy makers, academics, and corporate leaders.
Annotation c. Book News, Inc., Portland, OR (booknews.com)

Synopsis:

Developing some guiding principles to be used when evaluating alternative proposals for reorganizing the US electric power industry, this text contains preliminary versions of papers that were presented at a Workshop convened by the Electric Power Research Institute at Stanford University in 1997.

Synopsis:

As electric restructuring spreads rapidly across countries and states, leading industry experts are increasingly concerned that in many instances policy makers are pushing their proposals into practice more quickly than policy analysts can provide answers to difficult questions of market design. In this process, different structures for organizing this industry are evolving without a firm basic understanding of their implications for long-term market performance. There is a risk that, in the process, we may be inadvertently locked into an inferior market design that will be costly to change. Designing Competitive Electricity Markets develops some guiding principles to be used when evaluating alternative proposals for reorganizing the US electric power industry. Preliminary versions of the papers in this book were presented at a Workshop convened by the Electric Power Research Institute and held at Stanford University in March 1997. The authors are prominent economists, operation researchers, and engineers who have been instrumental in the development of the conceptual framework for electric power restructuring both in the United States and in other countries. Rather than espousing a particular market design for the industry's future, each author focuses on an important issue or set of issues and tries to frame the questions for designing electricity markets using an international perspective. The book focuses on the economic and technical questions important in understanding the industry's long-term development rather than providing immediate answers for the current political debates on industry competition. Extensive issues are covered, including: the role of the system operator; the problems of ensuring longer-term investment in expanding the transmission system, and in industry research and development; the problems in pricing that are created by arbitrarily segmenting related markets; the relationship between efficiency in the near and long term; ownership rights and incentives; and designing experiments to better understand the operation of different auction mechanisms. The intended audience for this volume includes policy-makers, policy-oriented academics, and corporate leaders with an interest in designing workable and more efficient electricity markets. The arguments in each chapter are based upon sound economic principles but do not require expertise in mathematical modeling or technical economic analysis.

Table of Contents

Foreword. Contributing Authors. 1. Introduction: Economic and Technological Principles in Designing Power Markets; H. Chao, H.G. Huntington. 2. Restructuring, Competition and Regulatory Reform in the U.S. Electricity Sector; P.L. Joskow. 3. Nodes and Zones in Electricity Markets: Seeking Simplified Congestion Pricing; W.H. Hogan. 4. Ownership Structure, Contracting and Regulation of Transmission Services Providers; P.R. Kleindorfer. 5. Authority and Responsibility of the ISO: Objectives, Options and Tradeoffs; S.S. Oren. 6. Pricing Issues; R.B. Wilson. 7. Deregulating Electric Power: Market Design Issues and Experiments; S.J. Rassenti, V.L. Smith. 8. Binding Constraints of Electricity Restructuring: An Inventory; E.P. Kahn. 9. Investing in Transmission Facilities - Why, by Whom, for Whom; M.L. Baughman. 10. The Role of Research and New Technology in a Restructured Networked Energy System; M.G. Morgan. 11. Design Principles; R.B. Wilson. 12. An Institutional Design for an Electricity Contract Market with Central Dispatch; H. Chao, S.C.Peck. Index.

Product Details

ISBN:
9780792382829
Editor:
Chao, Hung-Po
Editor:
Huntington, Hillard G.
Editor:
Chao, Hung-Po
Editor:
Huntington, Hillard G.
Editor:
Hung-Po Chao, Chao
Author:
Hung-po Chao
Author:
Workshop on Markets for Electricity Econ
Author:
Huntington, Hillard G.
Editor:
Hung-Po Chao, Chao
Publisher:
Springer
Subject:
Management
Subject:
Engineering - Electrical & Electronic
Subject:
Economics
Subject:
Management Science
Subject:
Electric utilities
Subject:
Economics - General
Subject:
Electricity
Subject:
Electric utilities -- Management -- Congresses.
Subject:
Industrial organization
Subject:
Energy Economics
Subject:
Electrical engineering
Subject:
Economic Policy
Subject:
Business management
Subject:
Industries
Copyright:
Edition Description:
Book
Series:
International Series in Operations Research & Management Science
Series Volume:
13
Publication Date:
19980930
Binding:
HARDCOVER
Language:
English
Illustrations:
Y
Pages:
221
Dimensions:
235 x 155 mm 1100 gr

Related Subjects

Business » Human Resource Management
Business » Management
History and Social Science » Economics » General
Science and Mathematics » Electricity » General Electricity
Science and Mathematics » Electricity » General Electronics
Science and Mathematics » Environmental Studies » Environment

International Series in Operations Research & Management Science #13: Designing Competitive Electricity Markets New Hardcover
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$209.75 In Stock
Product details 221 pages Kluwer Academic Publishers - English 9780792382829 Reviews:
"Synopsis" by , Developing some guiding principles to be used when evaluating alternative proposals for reorganizing the US electric power industry, this text contains preliminary versions of papers that were presented at a Workshop convened by the Electric Power Research Institute at Stanford University in 1997.
"Synopsis" by , As electric restructuring spreads rapidly across countries and states, leading industry experts are increasingly concerned that in many instances policy makers are pushing their proposals into practice more quickly than policy analysts can provide answers to difficult questions of market design. In this process, different structures for organizing this industry are evolving without a firm basic understanding of their implications for long-term market performance. There is a risk that, in the process, we may be inadvertently locked into an inferior market design that will be costly to change. Designing Competitive Electricity Markets develops some guiding principles to be used when evaluating alternative proposals for reorganizing the US electric power industry. Preliminary versions of the papers in this book were presented at a Workshop convened by the Electric Power Research Institute and held at Stanford University in March 1997. The authors are prominent economists, operation researchers, and engineers who have been instrumental in the development of the conceptual framework for electric power restructuring both in the United States and in other countries. Rather than espousing a particular market design for the industry's future, each author focuses on an important issue or set of issues and tries to frame the questions for designing electricity markets using an international perspective. The book focuses on the economic and technical questions important in understanding the industry's long-term development rather than providing immediate answers for the current political debates on industry competition. Extensive issues are covered, including: the role of the system operator; the problems of ensuring longer-term investment in expanding the transmission system, and in industry research and development; the problems in pricing that are created by arbitrarily segmenting related markets; the relationship between efficiency in the near and long term; ownership rights and incentives; and designing experiments to better understand the operation of different auction mechanisms. The intended audience for this volume includes policy-makers, policy-oriented academics, and corporate leaders with an interest in designing workable and more efficient electricity markets. The arguments in each chapter are based upon sound economic principles but do not require expertise in mathematical modeling or technical economic analysis.
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