Energy markets

Proprietary, Sweeter Tomates: Another Unintended Consequence of Ethanol Subsidies

Economics, Energy markets, Environmental policy / By

Lynne Kiesling As has been pointed out here, at Environmental Economics, and elsewhere, the ethanol subsidies included in the Energy Policy Act of 2005 have wrought a host of unintended consequences: the shift in demand increased corn prices, inducing farmers to substitute out of growing soybeans and into growing corn. This production substitution was not …

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Adler On Regulatory Barriers To Renewable Energy

Economics, Electricity, Energy markets, Environmental policy / By

Lynne Kiesling Today sees a good article from the aforementioned Jonathan Adler on regulatory barriers to innovation and implementation of renewable energy. His conclusion: To promote alternative energy development, there’s no need for more handouts. Instead the government should get out of the way. If the goal is to increase actual alternative energy production, and …

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Adler On Morriss On Energy Regulation

Economics, Electricity, Energy markets / By

Lynne Kiesling Jonathan Adler has a Volokh post on energy regulation linking to Andy Morriss’s article about regulatory sclerosis in energy. America’s energy markets, including the infrastructure that makes trading in energy possible (made up of pipelines, oil and gas terminals, and refineries), are clogged with the debris of almost a hundred years of state …

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Adler: Government-sponsored Prizes Would Be Better Than Subsidies

Energy markets, Liberty, Politics / By

Michael Giberson “Direct government subsidies are a particularly poor way to encourage innovation,” writes Jonathan Adler in an article asserting that government-sponsored prizes would be better than subsidies at encouraging the development of low-carbon-emission energy technologies. Government subsidies tend to be dispersed on political criteria, rewarding large, politically connected incumbent firms, rather than innovative upstarts. …

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Capacity Market Costs Drive Utility to Want to Leave Pjm, Join Midwest Iso

2 Comments / Electricity, Energy markets, Networks / By

Michael Giberson Duquesne Light has announced it wants to drop out of PJM and join the neighboring Midwest ISO, citing the high costs emerging from PJM’s capacity market as their motivation. The capacity market is called the “RPM” market after the “reliability pricing model” which serves as the underlying pricing mechanism. Duquesne has filed a …

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Sean Casten Counters “Backlash Against Competitive Markets”

Electricity, Energy markets, Politics / By

Michael Giberson Writing at environmental commentary site Grist, Sean Casten (CEO of Recycled Energy Development) takes on a few of the critics of deregulation: In The Karate Kid, Mr. Miyagi advises that “It is good to know karate. It is good not to know karate. It is not good to know a little karate.” With …

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Newspaper Article Presents Dispute Between Pjm and Its Market Monitor

Electricity, Energy markets, Politics / By

Michael Giberson A story by Peter Behr in today’s Washington Post lays out all the pieces in the dispute between PJM and Joe Bowring, chief of PJM’s market monitoring unit: Federal energy regulators plan to meet today to try to resolve damaging accusations against PJM Interconnection by a key employee who oversees the fairness of …

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CFTC Holds Hearings on Oversight of Energy Trading

Energy markets, Politics / By

Michael Giberson Yesterday, the Commodity Futures Trading Commission held a hearing to discuss whether it should increase oversight of energy trading on currently exempt commercial markets. Interest in the topic was heightened by disclosures related to the Amaranth Advisors LLC blow up last year, when it was determined that Amaranth sought to manipulate the price …

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Natural Gas Futures Trader Files Complaint Against Energy Transfer Partners

Energy markets / By

Michael Giberson Energy Transfer Partners, the Texas-based company already the target of FERC and CFTC action for allegedly manipulating natural gas markets, is now the target of a private lawsuit for damages asserted to have resulted from ETP’s former trading practices. According to Platts: [The] suit, filed with the US District Court for the Southern …

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