Michael Giberson Following up on the earlier post, a recent FTC document details the agency’s activities addressing the oil and gas industry during the first six months of 2009. Of the investigation into gasoline prices in Western New York, the FTC said: The Commission’s work involving oil and natural gas also includes the examination of … More More on the FTC and Western New York Gasoline Prices
Michael Giberson In October of last year, Congressman Brian Higgins sent a letter to then FTC chairman William Kovacic requesting an investigation of gasoline prices in his home area of western New York. Historically, prices in Buffalo and surrounding areas have been below the average price in the state, but beginning around the time of … More Never Did See That Ftc Report on Western New York Gasoline Prices
Michael Giberson In my just published post on zone pricing, I noted a newspaper story from New York which suggests that the recently enacted ban on zone prices was equalizing gasoline prices, at least around Rochester. To quote myself: Meanwhile, in neighboring New York, a newspaper story from suburban Rochester suggests that the state’s new … More Is the Zone Pricing Ban Raising Average Gasoline Prices in New York?
Michael Giberson From the website of Livvy Floren, Greenwich state representative and Assistant Republican Leader in the Connecticut House of Representatives, “Greenwich Delegation Calls for Ban on Zone Pricing of Gas“: HARTFORD- Greenwich State Reps. Livvy Floren (R-149), Lile Gibbons (R-150) and Fred Camillo (R-151) are dismayed the state legislature refuses to address the issue … More Legislators from Wealthy Fairfield County, Connecticut Hope a Zone Pricing Ban Will Save Constituents Money
Michael Giberson From the Buffalo, New York, BusinessFirst: In a letter sent May 13 by FTC Chairman Jon Leibowitz to Higgins, the agency said after a careful and extensive investigation, regulators could not find any evidence of illegal activity in gasoline markets in any of the affected cities. The agency monitored prices in Buffalo, Jamestown, … More Congressman to Western New York Gasoline Retailers: We Will Be Watching You
Michael Giberson From the Hartford Courant (May 11, 2009): A bill in the General Assembly that would force gasoline wholesalers to charge the same price to retail dealers across Connecticut would likely raise the price of fuel for most motorists and make the market less responsive to competition. Legislation to ban so-called zone pricing has … More Hartford Courant Editorializes Against Zone Pricing Ban in Connecticut
Michael Giberson For class tomorrow I’m reading up on things Enron and California power market melt-down related. I’m a fan, for example, of Jonathan Falk’s 2002 article in the Electricity Journal on the infamous “Smoking Gun” memo which detailed Enron’s colorfully-named trading strategies like “get shorty” and “death star.” Among other things, Falk points out … More Power Market Seams and the Role of Arbitragers in Market Design
Michael Giberson Last week the New York ISO filed proposed tariff changes with the Federal Energy Regulatory Commission to revise how it treats wind power generation in its markets. Under the NYISO’s current rules, wind power generators are not treated as flexible resources. When the transmission system is overloaded, other generators can be asked to … More Wind Power is Dispatchable, Down