Regulating Power
Subtitle: The Economics of Electricity in the Information Age
By: by Carl Pechman
Series: Topics in Regulatory Economics and Policy Series -- 15; Topics in regulatory economics and policy -- 15.
Publisher: Springer US
Published: 1993
Place of publication: Boston, MA
Language: eng
Format: [electronic resource] :
Number of pages: 229
ISBN-13: 9781461364337; 9781461532583
Subjects: Computer engineering; Economics; Industrial organization (Economic theory); Environmental management
Description: This book examines the economics of an industry that has become a critical component of modern life - the electric utility industry. The public nature of electricity has affected the development of the industry, both private and public. While this book focuses on private utilities, it recognizes the potential for a resurgence of public ownership. The objective of the book is to examine factors that will affect the evolution of markets for power. Of critical importance is the role of information, which is required for making and evaluating decisions in power markets. This book demonstrates that utilities can exploit information as a source of market power, impeding the development of more competitive and efficient markets. To a large extent the source of the utilities' market power is the ability to specify computer models used in the planning, pricing and operation of markets for electricity. A number of concepts related to the use and control of information and models are developed in this book.
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