ISOs: The new antitrust regulators?
- Steptoe and Johnson LLP, Washington, DC (United States)
Fear of seller market power in emerging electricity markets has led regulators to sanction use of independent system operators as private market police. A more restrained approach is likely to yield better results without the chilling effects of private regulation. This new industry regulatory paradigm has received little critical attention to date. This is unfortunate because ISO antitrust regulation raises serious legal and policy concerns. The California and New England Power Pool (NEPOOL) plans are quite intrusive. They require the ISO to make difficult distinctions between acceptable and unacceptable market behavior. They create considerable risk that desirable competitive behavior will be chilled and that market participants will incur significant explicit and implicit costs to meet regulatory requirements.
- OSTI ID:
- 290015
- Journal Information:
- Electricity Journal, Vol. 11, Issue 3; Other Information: PBD: Apr 1998
- Country of Publication:
- United States
- Language:
- English
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