U.S. Department of EnergyOffice of Scientific and Technical Information
The performance of the US market for independent electricity generation
Abstract
The electric power industry has undergone a variety of experiments with greater reliance on market forces. A common theme is the liberalization of entry restrictions and the elimination or reduction of profit regulation. In the United States and the United Kingdom, the reliance on market forces has manifested itself via liberalized entry, competive bidding for long-term bulk power supplies, and a reduction in the use of rate-of-return regulation at the wholesale level. A sample of power purchase contracts for 26 independent power facilities is used as the basis of this assessment. Contracts were executed between 1987-94. The authors describe qualitative features of the contracts and standardize the price formulas. Because of residual price variation and an indication that buyer willingness-to-pay is highly correlated with price, the authors conclude that bulk power sold by independent power producers is a heterogeneous product, and evidence for competition in market prices is weak. 24 refs., 6 tabs.
- Authors:
-
- Lawrence Berkeley Lab., CA (United States)
- Publication Date:
- OSTI Identifier:
- 401745
- Resource Type:
- Journal Article
- Journal Name:
- Energy Journal
- Additional Journal Information:
- Journal Volume: 17; Journal Issue: 3; Other Information: PBD: 1996
- Country of Publication:
- United States
- Language:
- English
- Subject:
- 29 ENERGY PLANNING AND POLICY; ELECTRIC POWER INDUSTRY; COMPETITION; DEREGULATION
Citation Formats
Comnes, G A, Kahn, E P, Belden, T N, and Univ. of California, Berkeley, CA. The performance of the US market for independent electricity generation. United States: N. p., 1996.
Web.
Comnes, G A, Kahn, E P, Belden, T N, & Univ. of California, Berkeley, CA. The performance of the US market for independent electricity generation. United States.
Comnes, G A, Kahn, E P, Belden, T N, and Univ. of California, Berkeley, CA. 1996.
"The performance of the US market for independent electricity generation". United States.
@article{osti_401745,
title = {The performance of the US market for independent electricity generation},
author = {Comnes, G A and Kahn, E P and Belden, T N and Univ. of California, Berkeley, CA},
abstractNote = {The electric power industry has undergone a variety of experiments with greater reliance on market forces. A common theme is the liberalization of entry restrictions and the elimination or reduction of profit regulation. In the United States and the United Kingdom, the reliance on market forces has manifested itself via liberalized entry, competive bidding for long-term bulk power supplies, and a reduction in the use of rate-of-return regulation at the wholesale level. A sample of power purchase contracts for 26 independent power facilities is used as the basis of this assessment. Contracts were executed between 1987-94. The authors describe qualitative features of the contracts and standardize the price formulas. Because of residual price variation and an indication that buyer willingness-to-pay is highly correlated with price, the authors conclude that bulk power sold by independent power producers is a heterogeneous product, and evidence for competition in market prices is weak. 24 refs., 6 tabs.},
doi = {},
url = {https://www.osti.gov/biblio/401745},
journal = {Energy Journal},
number = 3,
volume = 17,
place = {United States},
year = {Sun Dec 01 00:00:00 EST 1996},
month = {Sun Dec 01 00:00:00 EST 1996}
}
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