Michael Giberson Auctions, especially auctions of government property, are not a tool of the rich… As principles of market design become more thoroughly articulated and widely understood, the sphere of governmental discretion will shrink. More and more, politicians will be forced to play by the rules. That’s David Warsh writing on the relationship between the … More Auctions As Tools to Limit Government Discretion
Michael Giberson Way to go, Sen. Goss. Now grandma in Wilmington is gonna go three days without a flashlight ‘cuz you don’t understand basic economics. That is the conclusion of a post on Carolina Politics Online about a proposal by North Carolina state senator Steve Goss to not limit the state’s price gouging law to … More Price Gouging Policy As Rendered in Everyday Politics
Michael Giberson “Our feeling is that natural gas prices have some challenges because of the LNG that may be coming this way due to our storage capability in the United States and the reduced industrial demand overseas,” Hackett said… Gas futures on the New York Mercantile Exchange have dropped about 30 percent this year, compared … More Lng Possibilities Keeping Natural Gas Prices Down in U.S.
Michael Giberson The Salt River Project is, among other things, a fairly substantial electric utility serving customers in the state of Arizona. As it is a state-chartered entity, not an investor-owned utility, it is not subject to regulation by the Arizona Corporation Commission. But that didn’t stop a couple of Arizona state commissioners from opining … More Arizona Commissioners’ Views on a Non-jurisdictional Utility’s Cost-Cutting Plan
Lynne Kiesling In today’s Wall Street Journal, Bjorn Lomborg has one of the clearest articulations of the bootleggers and Baptists dynamic in carbon policy, and nails one of the fundamental reasons why the Waxman-Markey bill is bad policy: Naturally, many CEOs are genuinely concerned about global warming. But many of the most vocal stand to … More Bootleggers and Baptists and Carbon Policy
Michael Giberson The Federal Energy Regulatory Commission has approved NYISO tariff changes intended to accommodate participation of flywheel and similar energy storage devices in markets to supply frequency regulation services. Flywheel developer Beacon Power applauded the change. The FERC order, linked above, describes a number of changes to the NYISO tariff and operating procedures needed … More Flywheel Technology Now Ready for Takeoff? Nyiso Tariff Changes Accomodate Energy Storage Technology
Michael Giberson I think the implication of this article are good for wind power, but not as good for solar power. Some of the discussion borders on being over my head, but the main point is that many transmission line capability ratings are static while the actual transmission line capability is dynamic. Dynamic line ratings … More Consequences of Dynamic Transmission Line Rating for Renewable Power
Michael Giberson There is by now a fairly established body of economic history work that challenges what might be called the mainstream view of the origins of state regulation of electric utilities and offers as an alternative a nakedly public choice view that state regulation was all about creation of monopoly rents. The mainstream view … More Origins of State Electric Utility Regulation: Was It Protection of Quasi-rents Not Creation of Monopoly Rents?
Lynne Kiesling I’ve been out in Colorado since Friday teaching at this year’s Institute for Regulatory Law & Economics annual workshop for state regulators. Yesterday we had a free afternoon and today we wrap up and travel home, so my post for the day is this picture from yesterday’s free afternoon: three of us rode … More Independence Pass!
Lynne Kiesling A serious shout out to Orin Kerr at Volokh for pointing out NPR’s live broadcasts from the Village Vanguard. I think the KP Spouse and I may have to listen to the Ravi Coltrane Quartet recording over Memorial Day weekend!