market structure, competition, and regulation in electricity market ...

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• Second, competitive supply side in generation • If competition in generation is central purpose of reforms, crucial that it be structurally and behaviorally competitive • Several aspects to this: • Initial conditions involving numerous generators/bidders • Reduce/eliminate barriers to new entry from siting, etc. • Control of mergers • Prevent collusive and anticompetitive titi behavior • Requires careful restructuring policy at outset, plus • Attentive and capable competition policy • Independent and capable market monitors
• Third, well designed auction markets • Design df defensively–that is, avoid rules subject to market manipulation • Experience of California, others • Create oversights and checks for anticompetitive behavior • Strategic t withholding • Limit cross-ownership/contracting among bidder • Needed to prevent common knowledge of all generators’ costs, etc. • Data disclosure and transparency • Most US RTOs do not disclose much information
Page 1 and 2: MARKET STRUCTURE, COMPETITION, AND
Page 3 and 4: EXPERIENCE WITH REFORMS • Most de
Page 5 and 6: STRUCTURAL REFORMS • Multiple dim
Page 7 and 8: VERTICAL INTEGRATION • If full ve
Page 9 and 10: THE EVIDENCE, CONTINUED • Some ev
Page 11: DETERMINANTS, CONTINUED • Several
Page 15 and 16: • Five, resolving the role for re
Page 17: LESSON FROM PAST EXPERIENCE • One

market structure, competition, and regulation in electricity market ...

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