Vernon Smith and I have a commentary in today’s Wall Street Journal (subscription required). A systematic rethinking of the power demand and supply system — not just transmissions lines — is required to bring the energy industry into the contemporary age. Eighty-five years of regulatory efforts have focused exclusively on supply — leaving on dusty …
And send California back in time, just as the happy modern primitives who abhor dynamic change want. California Senate Bill 888, about which I posted back in April. This bill has been approved by a Senate panel. The 1996 deregulation law [AB1890] was intended to foster competition to drive down electricity prices. Instead, wholesale electricity …
California Senate Bill Would Re-regulate Electricity Read More »
The past week has seen a few interesting developments related to electricity deregulation, and I found the juxtaposition of them interesting. They further reinforce the reasons for customer choice and retail deregulation in electricity. First, the denouement of the California electricity crisis continues on, with the California legislature facing two opposing pieces of legislation concerning …
Will California Create Value Through Customer Choice? New York is a Role Model Read More »
A recently-released manifesto,spearheaded by UC-Berkeley’s Institute of Management, Innovation & Organization, provides another call for market forces in California’s electricity industry in the face of increasing regulation and debt-laden utilities and generators. I have provided the press release below, and it is also available at the RPPI website. The full text of the manifesto and …
I have been working on a chapter for a forthcoming book on electricity restructuring, to be published by the Independent Institute. In writing it I wrote some of my most heartfelt arguments for consumer choice and freedom in electricity markets. Retail prices have always played an important role in enabling exchange, and in leading to …
Market-based Retail Prices Are Crucial For Successful Electricity Restructuring Read More »
Arnold Kling suggested that I explore the fuel cell future in more detail. I intend to delve further into the economics of such technological change, but for now, here’s a compilation of several articles on fuel cell research and how close they are to economic viability. Most current analysts predict about 20 years. This October …
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