Research on differences between decisions made in a person’s native tongue and decisions made in a second language reminded me of an unexplored idea in the social dynamics surrounding price gouging. I’ve devoted a few posts to the question of whether or not price gouging laws get applied in a discriminatory fashion against “outsiders,” primarily … More Price gouging in a second language
The Wall Street Journal recently opined against President Obama’s nominee for Federal Energy Regulatory Commission chairman, Norman Bay, and in the process took a modest swipe at subsidies for wind energy. The context here is Bay’s action while leading FERC’s enforcement division, and in particular his prosecution of electric power market participants who manage to run afoul … More The spin on wind, or, an example of bullshit in the field of energy policy
Jay Zarnikau, C.K. Woo, and Ross Baldick have examined whether the shift from a zonal to nodal market design in the ERCOT power market had a noticeable effect on electric energy prices. The resulting article, published in the Journal of Regulatory Economics, and this post may be a bit geekier than we usually get around here. … More Did ERCOT’s shift from zonal to nodal market design reduce electric power prices?
Jeremy Jacobs and Hannah Northey at Greenwire report “Appeals court throws out FERC’s demand-response order“: A federal appeals court today threw out a high-profile Federal Energy Regulatory Commission order that provided incentives for electricity users to consume less power, a practice dubbed demand response. In a divided ruling, the U.S. Court of Appeals for the … More Court says no to FERC’s negawatt payment rule
Simona Benedettini and Carlo Stagnaro make the case for allowing negative prices in electric power markets in Europe. A few of the larger power markets in Europe allow prices to go negative, but others retain a zero price lower limit. Benedettini and Stagnaro explain both why it is reasonable, economically speaking, to allow electricity prices … More The case for allowing negative electricity prices – Benedettini and Stagnaro
From SNL Energy, “Texas utility regulators expect to open investigation on wind ‘cost apportionment’“: Having seen record wind output of more than 10,000 MW in March, ERCOT in the report also noted that Texas has gone well beyond its 10,000-MW capacity goal and far earlier than the 2025 target established in the state’s Public Utility Regulatory Act. … More Texas wind power, the ERCOT power market, the Public Utility Commission
Salon has published a lot of nonsense on libertarianism (e.g., anything by Michael Lind on the topic). So it was surprising, yesterday, to find that Kim Messick’s Salon essay on libertarianism was relatively thoughtful. No perfect, by any means, just better than most progressive-liberal attempts at criticizing libertarianism. The author at least gets basic points right and would surely score higher than … More A relatively thoughful view of libertarianism from a progressive-liberal perspective