Making Competition Work in Electricity

An expert's perspective on how competition can make this industrywork. There has never been a coherent plan to restructure theelectricity industry in the USâ??until now. Power expert SallyHunt gets down to the critical lessons learned from the Californiapower crisis and other deregulated markets, in which competitionhas been introduced properly and successfully. Hunt presents sensible solutions to power market reform thathave been cultivated over her twenty years of professional work inthe industry. Sally Hunt (New York, NY) spent twenty years atNational Economic Research Associates, where she was head of NERA'sU.S. energy practice and a member of the board. Coauthor ofCompetition and Choice in Electricity with Graham Shuttleworth(0471957828), she has served as Corporate Economist at Con Edison,Deputy Director of the New York City Energy Office, and AssistantAdministrator of the New York City Environmental ProtectionAdministration. Over the years, financial professionals around theworld have looked to the Wiley Finance series and its wide array ofbestselling books for the knowledge, insights, and techniques thatare essential to success in financial markets. As the pace ofchange in financial markets and instruments quickens, Wiley Financecontinues to respond. With critically acclaimed books by leadingthinkers on value investing, risk management,asset allocation, andmany other critical subjects, the Wiley Finance series provides thefinancial community with information they want. Written to provideprofessionals and individuals with the most current thinking fromthe best minds in the industry, it is no wonder that the WileyFinance series is the first and last stop for financialprofessionals looking to increase their financial expertise.

Auteur
SALLY HUNT was head of the energy practice at NERA, an international consulting firm, and coauthored Competition and Choice in Electricity (Wiley). She has advised governments around the world on competition in the electricity industry, and has worked closely with many electric companies on implementation.

Texte du rabat
in praise of making competition work in electricity "Here is the book I've been looking for to guide me through the devilishly complicated experience of electric industry deregulation?"
From the Foreword by Alfred E. Kahn

"A thoughtful and comprehensive analysis of the issues associated with creating competitive electricity markets that work well. The book provides a clear road map for steps that the U.S. must take to make electricity industry competition initiatives a success. An essential guide for policymakers."
Paul L. Joskow
Elizabeth and James Killian Professor of Economics
Massachusetts Institute of Technology

"Grounded in solid theory and buttressed by extensive practical experience, Hunt's analysis brings welcome clarity to the sometimes surreal discussion of electricity restructuring. Ignore it at your peril."
William W. Hogan
Lucius N. Littauer Professor of Public Policy and Administration John F. Kennedy School of Government, Harvard University

Résumé
An expert's perspective on how competition can make this industry work. There has never been a coherent plan to restructure the electricity industry in the USâ??until now. Power expert Sally Hunt gets down to the critical lessons learned from the California power crisis and other deregulated markets, in which competition has been introduced properly and successfully. Hunt presents sensible solutions to power market reform that have been cultivated over her twenty years of professional work in the industry. Sally Hunt (New York, NY) spent twenty years at National Economic Research Associates, where she was head of NERA's U.S. energy practice and a member of the board. Coauthor of Competition and Choice in Electricity with Graham Shuttleworth (0471957828), she has served as Corporate Economist at Con Edison, Deputy Director of the New York City Energy Office, and Assistant Administrator of the New York City Environmental Protection Administration. Over the years, financial professionals around the world have looked to the Wiley Finance series and its wide array of bestselling books for the knowledge, insights, and techniques that are essential to success in financial markets. As the pace of change in financial markets and instruments quickens, Wiley Finance continues to respond. With critically acclaimed books by leading thinkers on value investing, risk management,asset allocation, and many other critical subjects, the Wiley Finance series provides the financial community with information they want. Written to provide professionals and individuals with the most current thinking from the best minds in the industry, it is no wonder that the Wiley Finance series is the first and last stop for financial professionals looking to increase their financial expertise.

Contenu
Introduction.

PART I: THE STANDARD PRESCRIPTION.

The Essential Aspects of Electricity.

Reforming the Industry.

Requirements for Competition: Demand Side.

Requirements for Competition: Supply Side.

Liquid, Efficient, and Complete Marketplaces.

Trading Arrangements.

Details of the Integrated Trading Model.

Transmission Business Model.

Issues in the Retail and Distribution Business.

Summary and Conclusions to Part One.

PART II: THE UNITED STATES.

The Structure of the Industry.

Changes in the 1990s.

The New Players.

Trading Arrangements in the United States.

Transmission Business Model.

Control of Market Power.

Retail Regimes.

Current Jurisdictional Situation.

Five Major Changes Revisited.

Appendix A: Electricity Restructuring in England and Wales.

Appendix B: National Grid Company (U.K.).

Appendix C: The California Crisis 2000-2001.

Appendix D: The U.S. Gas Experience--A Comparison with Electricity.

Appendix E: Building New Generators--When, Where, and How.

Appendix F: Building New Transmission--When, Where, and How.

Glossary.

Index.