Michael Giberson The Twomey et al. paper on market monitoring notes that some of the various economic tools used to track market power in electric power markets are applied ex ante, while others are applied ex post. Ex ante tools are the more powerful tools, using the networked nature of the business to intercept opportunistic …
Ex Post Market Monitoring in Electric Power Markets Read More »
Michael Giberson Among the presenters at the Harvard Electricity Policy Group session on market power monitoring, Speaker 4 was the one who had it all together. Note that the session summaries characterize the discussions but do not name names, so theoretically I can’t link the discussion to a person and I suppose doing so isn’t …
The Kluge That We Need: Local Market Power Mitigation Measures Read More »
Michael Giberson Coyote Blog asks, “Where is Cinderella?” The first two rounds of the NCAA basketball championship have been played (round three is underway as I type), and nowhere to be seen is a surprise team like last year’s George Mason University. The best answer I have seen is that of Phil Sheridan, in The …
Michael Giberson Earth, Wind & Fire may be a funky soul powerhouse band of the late 60s and early 70s, but in the Pacific Northwest the element that really gets them juiced is water. The region gets about 2/3rds of its electric power from hydroelectric dams. But as the region seeks to increase its electric …
Michael Giberson The Harvard Electricity Policy Group regularly organizes meetings with some of the “best and the brightest” electricity policy thinkers and doers to kick around ideas, talk shop, see what’s new, and so on. About a year ago one of their topics was “Market Monitors: Dealing with Bad Guys, Bad Rules, or Both? What …
Michael Giberson A reader (in the comments here) asked whether we had any opinions on the complaint filed last week by the Illinois Attorney General alleging manipulation of the Illinois power procurement auction. Here’s the basic story, via Business Week and the Associated Press: Last year, the Illinois Commerce Commission oversaw a reverse auction, where …
Manipulation of Illinois Wholesale Power Auction? Read More »
Michael Giberson Among the comments filed in response to the FERC technical conference on wholesale market competition, were remarks submitted by the District of Columbia Office of the People’s Counsel, Old Dominion Electric Cooperative, Maryland Office of the People’s Counsel, and Pennsylvania Office of Consumer Advocate. (Here is the Energy Legal Blog overview of the …
Bibliography of Studies Assessing Wholesale Power Markets Read More »
Michael Giberson The activist group Public Citizen made its case in federal court Wednesday for a requirement that all wholesale electricity rates be filed in advance and assessed on how reasonable they are, rather than blanket approvals being issued for fluctuating market-based rates in competitive markets. Public Citizen told the US Court of Appeals for …
Michael Giberson Via Discovery News: The adage “like a kid at heart” may be truer than we think, since new research is showing that grown-ups are more immature than ever. Specifically, it seems a growing number of people are retaining the behaviors and attitudes associated with youth. As a consequence, many older people simply never …
Michael Giberson Not much analytical work has be published looking at the role of market monitors in regional power markets. One of the few pieces to be published in the trade press was an article by Prof. Robert Michaels in Public Utilities Fortnightly, “Watching the Watchers: Can RTO market monitors really be independent?” Writing in …
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