My R Street policy study: Electricity market alternatives to regulatory net metering

Institutional persistence creates some of the thorniest problems in public policy, including electricity policy. Institutions change more slowly than technology and markets, because of both  design and status quo bias, which means that dynamic processes of economic and technological change can make regulatory institutions outdated. This mismatch is showing up right now in the electricity … More My R Street policy study: Electricity market alternatives to regulatory net metering

Power Up: The framework for a new era of UK energy distribution

The Adam Smith Institute has published a research report I wrote for them, Power Up: The framework for a new era of UK energy distribution. From the press release: The report … argues that new technologies such as smart grids and distributed energy production can revolutionise old models of energy distribution and pricing, in the … More Power Up: The framework for a new era of UK energy distribution

2015 Nobel laureate Angus Deaton

Angus Deaton is the worthy and deserving winner of this year’s economics Nobel. The arc of his work, from theory to data to empirical application, has been consumption, measuring consumption, and consumption as an indicator of well-being, poverty, and inequality. His analyses also incorporate political economy as a factor influencing those relationships and incentives. If … More 2015 Nobel laureate Angus Deaton

Technological change, culture, and a “social license to operate”

Technological change is disruptive, and in the long sweep of human history, that disruption is one of the fundamental sources of economic growth and what Deirdre McCloskey calls the Great Enrichment: In 1800 the average income per person…all over the planet was…an average of $3 a day. Imagine living in present-day Rio or Athens or … More Technological change, culture, and a “social license to operate”

Forthcoming paper: Implications of Smart Grid Innovation for Organizational Models in Electricity Distribution

Back in 2001 I participated in a year-long forum on the future of the electricity distribution model. Convened by the Center for the Advancement of Energy Markets, the DISCO of the Future Forum brought together many stakeholders to develop several scenarios and analyze their implications (and several of those folks remain friends, playmates in the … More Forthcoming paper: Implications of Smart Grid Innovation for Organizational Models in Electricity Distribution

The New York REV and the distribution company of the future

We live in interesting times in the electricity industry. Vibrant technological dynamism, the very dynamism that has transformed how we work, play, and live, puts increasing pressure on the early-20th-century physical network, regulatory model, and resulting business model of the vertically-integrated distribution utility. While the utility “death spiral” rhetoric is overblown, these pressures are real. … More The New York REV and the distribution company of the future