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Publications

May 2007, Electricity Journal
Standby rate design: current issues and possible innovations
Overview of distribution standby rates including current practices and possible innovations.

January 2007, London Economics Press (funded by American Public Power Associationand the National Rural Electric Cooperative Association)
A comparative analysis of actual locational marginal prices in the PJM Market and estimated short-run marginal costs: 2003-2006.
The study estimates the monthly peak and off-peak price-cost markup indices in Day-Ahead Locational Marginal Prices (LMPs) for the PJM Classic region over the period January 2003 through July 2006. The main goal is to assess the relationship between the realized prices and short-run marginal costs of the price setting units. One finding is that price-cost markup indices are positive for many months.

November 2006, London Economics Press (sponsored by the California Energy Commission)
Survey of capacity product posting, unbundled capacity attributes, and trading platforms in use in other jurisdictions and comparison to requirements being developed in California
This report summarizes the findings of a comparative study commissioned by the California Energy Commission, providing an analysis of the capacity product, trading platforms, and market institutions in other jurisdictions. The report also discusses how these other markets’ experiences may be useful models for California, especially in the context of a voluntary trading mechanism (such as an electronic bulletin board), implemented to assist market participants in trading capacity to achieve compliance with the recently revised resource adequacy requirements.

February 2005, Public Utilities Fortnightly
Picture of a stalled competitive model
This article compares the evolution of power sector reform across Eastern and Western Europe and identifies potential investment opportunities

August 2004, London Economics Press
Beyond market shares and cost plus pricing
Policy-oriented White Paper discusses how to design an economically proper horizontal market power mitigation framework for today's electricity markets

May 2004, Public Utilities Fortnightly
Let's get this party started
Revisits Ontario power sector and presents foundation for market developments

April 2004, Electricity Journal
Uncover the true value in merchant generation
Article shows how advanced statistical techniques can be used to estimate future revenues

May 2003, London Economics Press
Economic evaluation of the Path 15 and Path 26 transmission expansion projects in California
Use of integrated modeling framework to demonstrate economics and social benefits and relative value of transmission projects

February 2003, Public Utilities Fortnightly
On the Brink: Avoiding a Canadian California
Presents critique of developments in Ontario power sector

October 2001, Electricity Journal
Real options as applied to the valuation of generation assets
Demonstrates practical approach for application of real options to power sector assets

July 2001, Public Utilities Fortnightly
Performance-based ratemaking (PBR) in the UK
Reviews history of PBR in UK and its effect on revenues of wires companies there

March 2001,Public Utilities Fortnightly
Market power and wholesale prices in Ontario
Uses sophisticated bidding strategy software to show how market power should be managed in Ontario

June 1999, Electricity Journal
Importance of functioning retail markets to creating competitive wholesale markets
Identifies linkage between upstream and downstream product markets, shows importance of well structured retail market designs

March 1999, Electricity Journal
Contractual mechanisms to reduce market power
Discusses design of tolling agreements intended to reduce market power without requiring divestiture, with examples from Alberta

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