Contrasts in restructuring wholesale electric markets: England/Wales, California, and the PJM

Journal Article · Sat Aug 01 04:00:00 EDT 1998 · Electricity Journal

DOI:https://doi.org/10.1016/S1040-6190(98)00074-8· OSTI ID:675527

Henney, A

The ways in which the British, the Californians, and the members of the Pennsylvania-Jersey-Maryland Pool (PJM) are restructuring their electric industries and designing markets provide fascinating political and technical contrasts with each other, particularly insofar as all three markets are roughly the same size, with energy sales of about 250--300 terawatt hours (TWh) annually. There have been significant differences in the drivers of change, objectives, and leadership, the legacies of the past, and the process of design, which are discussed in the first three sections. The fourth section describes the market designs in England and Wales, California, and the PJM, while the concluding section draws out the lessons of experience. While these lessons include specific principles regarding the objectives and structure of power exchanges, the maintenance of system stability and power transport, and the achieving of generation reliability, they also include several overarching conclusions. Perhaps chief among them, as will be clear from the discussion of the restructuring experience on both sides of the Atlantic, is that major restructurings can only be led by a public authority and will be successful in implementation only if that authority has a clear and realistic vision of where it wants to go.

• OSTI ID: 675527
• Journal Information: Electricity Journal, Journal Name: Electricity Journal Journal Issue: 7 Vol. 11; ISSN ELEJE4; ISSN 1040-6190
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
CALIFORNIA
DEREGULATION
ELECTRIC UTILITIES
MARKET
MARYLAND
NEW JERSEY
PENNSYLVANIA
PRICES
UNITED KINGDOM