DescriptionAn 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.
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.
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.
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.
“…IT will undoubtedly become recommended, if not required, reading for students, researchers, regulators, and the industry alike…”(The Journal of Energy Literature, Vol.V111, No.2, 2002