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The Demand for Electricity Services and the Quality of Supply

Romesh Dias-Bandaranaike and Mohan Munasinghe

Year: 1983
Volume: Volume 4
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol4-No2-5
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Abstract:
The spiraling costs of energy within the last decade have stimulated renewed interest in the increased efficiency of energy production and consumption.' Electricity is a relatively mature sector where considerable theoretical work on the economic aspects has been carried out since the 1950s.2 While the microeconomic principles underlying optimal investment planning and pricing policy have received much attention in the recent literature, less effort has been devoted to the effects of quality of supplyand output reliability.



Coal Transportation System Modeling: The Case of Taiwan

Gwo-Hshiung Tzeng

Year: 1985
Volume: Volume 6
Number: Number 1
DOI: 10.5547/ISSN0195-6574-EJ-Vol6-No1-12
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Abstract:
The world energy situation has been greatly influenced by the dramatic increase in world oil prices during the 1970s. To adjust to these increases, many countries have shifted to coal as a substitute for oil and have accelerated their research and development of renewable energy sources. Until nonconventional sources become widely available and economical, coal (along with nuclear power) will play a key role in the world's energy supply. Transportation and delivery, rather than production, pose the most difficult problems in meeting the greatly increased demand for coal.



Coal Transportation System Modeling-The Case of Taiwan: A Comment

R. K. Pachauri, Chia-Yon Chen, and Leena Srivastava

Year: 1985
Volume: Volume 6
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol6-No3-9
View Abstract

Abstract:
In his recent Energy Journal article, G. H. Tzeng emphasizes on the transportation aspects of increased coal use in Taiwan. He does not, however, offer much detail on the economic basis for the switch in National Energy Policy from imported oil to coal. While such a switch confirms that the exercise of rational fuel mix choices has found its due place in Taiwan, it seems appropriate to examine the efficiency of such a switch and its implications, especially for import balances. The new Taiwan energy policy Tzeng describes would increase coal consumption from 7.8 million tons (MT) in 1982 to 43.4 MT over the period ending in 2001. Ninety percent of this requirement would be imported. Of this, more than half would go to the electric power industry (23.8 MT by 2001). The total growth in coal consumption projected by Tzeng for this period amounts to 456 percent in 19 years.



Alternative Technological Indices and Factor Demands in the Electric Power Industry

Randy Nelson

Year: 1987
Volume: Volume 8
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol8-No3-7
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Abstract:
The role of technical progress as a means of extending energy resources, together with the widespread use of flexible functional forms, has led to increased interest in the estimation of nonneutral technical change in recent years. Studies by Binswanger (1974), Berndt and Khaled (1979), and Berndt and Wood (1982) at the aggregate level and Wills (1979), Toevs (1980), Moroney and Trapani (1981), and Jorgenson and Fraumeni (1981) at the sectoral level have provided estimates of biased technical change. Stevenson (1980), Gollop and Roberts (1981, 1983), and Nelson (1984, 1986) have also estimated models of nonneutral technical change for the electric power industry.Almost all these studies have two features in common. To begin with, they have employed a time trend to represent the rate at which new technology is introduced.' A recent study by Kopp and Smith (1985), however, indicates that time trends may fail to provide a consistent description of the direction of technical change and calls for the use of technologically explicit indicators of the pace of innovation.



The Performance of the U.S. Market for Independent Electricity Generation

G. Alan Comnes, Edward P. Kahn and Tim N. Belden

Year: 1996
Volume: Volume17
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol17-No3-2
View Abstract

Abstract:
We examine recent evidence on the economic performance of the U.S. independent electricity generation market. A sample of power purchase contracts for 26 independent power facilities is used as the basis of this assessment. The contracts were executed in various years between 1987-94. We describe qualitative features of the contracts, including dispatchability and allocation of fuel price risk. We standardize the price formulas of the contract sample and conduct a simple statistical analysis. Because of residual price variation and an indication that buyer willingness-to-pay is highly correlated with price, we conclude that bulk power sold by independent power producers is a heterogeneous product, and evidence for competition in market prices is weak.



Winners and Losers in the Transition to a Competitive Electricity Industry: An Empirical Analysis

Robert G. Ethier and Timothy D. Mount

Year: 1997
Volume: Volume 18
Number: Distributed Resources: Toward a New Paradigm of the Electricity Business
DOI: 10.5547/ISSN0195-6574-EJ-Vol18-NoSI-8
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Abstract:
The objective of this paper is to show how the treatment of strandable assets, constrained by industrial customers' access to distributed generation technology, affects the prices paid by different classes of customers and the corresponding level of electricity sales. Competitive electricity rates are likely to be shaped by the regulatory need to recover strandable costs. The choice of recovery method (i.e., the structure of rates charged to customers) and the size of recovered costs will affect both total sales of electricity and consumer welfare. The availability of new turbine technology will limit the design of effective rate structures by giving industrial customers a credible threat to self-generate. A dynamic model using a complete Generalized Logit demand system coupled with an electricity supply system is used to evaluate the effects of different rate structures. The results show that stranding some assets is the best way to improve the welfare of all classes of customer and simultaneously increase the need for new generating capacity.



Regulatory Policy Regarding Distributed Generation by Utilities: The Impact of Restructuring

Jay Morse

Year: 1997
Volume: Volume 18
Number: Distributed Resources: Toward a New Paradigm of the Electricity Business
DOI: 10.5547/ISSN0195-6574-EJ-Vol18-NoSI-9
View Abstract

Abstract:
Electricity industry restructuring is only now beginning to focus on the role of utilities in distributed generation (DG). This paper examines whether, as restructuring unfolds, regulators may permit investor-owned distribution companies to own DG, and if so, under what terms. Concomitantly, the paper explores how ownership of DG by distribution companies impacts electricity restructuring. The paper concludes that regulated utilities should readily obtain approval to install DG on utility sites as long as the utility remains vertically integrated. Approval is also possible for vertically integrated or restructured utilities to provide DG at customer sites if it is shareholder-funded and connected on the customer's side of the meter. However, distribution company ownership of DG at utility sites or on the utility's side of the meter conflicts with electricity industry restructuring. Regulatory approval under restructuring is therefore highly problematical. Should regulatory approval be granted, the need to mitigate vertical market power is likely to precipitate the disaggregation of the distribution company.





The Impact of Agency Costs on Regulator Compensation and the Size of Electric Utility Commissions

Franklin G. Mixon, Jr.

Year: 2001
Volume: Volume22
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol22-No2-2
View Abstract

Abstract:
The current study examines the impact of the selection of electric utilities regulators on their compensation and the size of the regulatory commissions they lead. Much like the CEOs of regulated enterprises, managers of politically supported enterprises and bureaucracies might be expected to pursue increases in the size of administration budgets, the number of support staff and compensation packages (i.e., engage in expense preference behavior). In the case of public utility commissions, the principal-agent model used to describe private firms applies. However, within politically-appointed regulatory regimes, utilities commissioners are the agents of politicians instead of the population at large. In elected regimes, regulators are the agents of the population at large. Statistical models presented in this paper point toward greater levels of expense preference behavior (or expected utility maximization) by commissions(ers) within appointed regulatory regimes, as public choice models and models of the firm would suggest.



An Analysis of Market Power Mitigation Strategies in Colorado's Electricity Industry

David M. Quick and Janis M. Carey

Year: 2001
Volume: Volume22
Number: Number 3
DOI: 10.5547/ISSN0195-6574-EJ-Vol22-No3-3
No Abstract




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