Energy markets

Norwalk Connecticut Gas Station Settles on Charges of Sandy-related Price Gouging

Energy markets, Regulation / By

Michael Giberson When it comes to gasoline price increases, how much do prices have to rise before a price increase is “unconscionably excessive”? What difference between prices before and after a declaration of emergency is large enough to create a “gross disparity”? Twenty percent? Ten percent? Five? In Connecticut these days it looks like a …

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A Call for Controlled Experimentation in California’s Energy Efficiency Programs

1 Comment / Electricity, Energy markets, Regulation, Science / By

Michael Giberson UC-Berkeley economist Catherine Wolfram has an op-ed in the Sacramento Bee advocating the state use controlled experimentation to discover with energy efficiency programs work best. As she explains, retailers are increasingly using experimentation and advanced data analysis to discover how to increase sales. Surely, she suggests, when planning to spend nearly half a …

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New Group Formed to Promote Research in U.s. Electric Power Markets

1 Comment / Economics, Electricity, Energy markets, Regulation / By

Michael Giberson Last week saw announcement of the Electric Markets Research Foundation. The group plans “to fund unbiased research that will examine the track records of centralized electricity markets and traditionally regulated markets in providing affordable and reliable supplies of power as well as meeting clean energy, transmission and environmental needs.” The news release continues: “There is a …

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American Biofuel Policy Increases Hardship on the Guatemalan Poor, and You Help Every Time You Buy Gasoline

6 Comments / Economics, Energy markets, Environmental policy, Food and wine, Politics / By

Michael Giberson Next time you see one of those “This product may contain up to 10 percent ethanol” stickers on a gas pump, ask yourself why federal government biofuel policies are forcing you to help increase hunger and hardship among poor Guatemalans. Sure, politicians in their comfortable offices in Washington, DC, didn’t intend to help …

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New York Newspaper Says “Add Shame to Penalty for Gouging”

2 Comments / Economics, Energy markets, Regulation / By

Michael Giberson Is price gouging like highway robbery? The Journal News, from the suburbs north of New York City, said: “Add shame to penalty for gouging“: Given the extraordinary cost of just about everything in New York, it is often difficult to distinguish price-gouging, which is both illegal and despicable, from the usual highway robbery, …

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New Yorkers Didn’t ‘share the Pain’ of Higher Gasoline Prices During Emergency

1 Comment / Energy markets, Law, Regulation / By

Michael Giberson One idea advanced by proponents of anti-price gouging laws is that after disaster strikes people should put aside their usual self-interests, join in with the community, and share in the burden of recovery. What these proponents often miss is that normal market adjustments will support a sharing in the burden of recovery, even …

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Another Round of Price Gouging Charges in New York

Energy markets, Law, Regulation / By

Michael Giberson The New York Attorney General’s office continues its aggressive pursuit of price gouging violations, announcing another 12 cases last week. From the press release: “Our office will continue to take enforcement actions against price gougers because ripping off New Yorkers is against the law,” Attorney General Schneiderman said. “We are actively investigating the hundreds of …

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Before Getting Too Excited About the Iea’s Forecast of Us Oil Production Leadership…

4 Comments / Economics, Energy markets / By

Michael Giberson Earlier this week the International Energy Agency released their annual World Energy Outlook, and new is a forecast that the United States would surpass Russian and Saudi Arabia to once-again become the world’s largest oil producer, sometime around 2020. The news set off a wave of happy press, i.e. the Wall Street Journal,  …

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Power Demand Dropping? Must Be Time to Raise Prices!

4 Comments / Electricity, Energy markets, Regulation / By

Michael Giberson News headline reflects the stark difference in pricing strategy between competing businesses and regulated monopolies: “Xcel: Slack demand signals need for rate hike.” The sub-headline reads, “The utility, which posted a profit increase, will ask Minnesota for approval to raise rates.” Profits are up? Must need to raise prices. Reading the article heightens the …

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