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Cambridge-MIT Institute

Overview
Works: 79 works in 95 publications in 1 language and 365 library holdings
Genres: Case studies 
Classifications: HB1, 330.072
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Publications about Cambridge-MIT Institute Publications about Cambridge-MIT Institute
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Most widely held works by Cambridge-MIT Institute
Cities of innovation : shaping places for high-tech ( Book )
1 edition published in 2003 in English and held by 18 WorldCat member libraries worldwide
CMI working paper by Cambridge-MIT Institute ( )
in English and held by 16 WorldCat member libraries worldwide
Diagnosing and mitigating market power in Chile's electricity industry by M. Soledad Arellano ( Book )
2 editions published in 2003 in English and held by 8 WorldCat member libraries worldwide
This paper examines the incentives to exercise market power that generators would face and the different strategies that they would follow if all electricity supplies in Chile were traded in an hourly-unregulated spot market. The industry is modeled as a Cournot duopoly with a competitive fringe; particular care is given to the hydro scheduling decision. Quantitative simulations of the strategic behavior of generators indicate that the largest generator ("Endesa") would have the incentive and ability to exercise market power unilaterally. It would do so by scheduling its hydro resources, which are shown to be the real source of its market power, in order to take advantage of differences in price elasticity: too little supply to high demand periods and too much to low demand periods. The following market power mitigation measures are also analyzed: (a) requiring Endesa to divest some of its generating capacity to create more competitors and (b) requiring the dominant generators to enter into fixed price forward contracts for power covering a large share of their generating capacity. Splitting the largest producer in two or more smaller firms turns the market equilibrium closer to the competitive equilibrium as divested plants are more intensely used. Contracting practices proved to be an effective tool to prevent large producers from exercising market power in the spot market. In addition, a more effcient hydro scheduling resulted. Conditions for the development of a voluntary contract market are analyzed, as it is not practical to rely permanently on vesting contracts imposed for the transition period
Why did British electricity prices fall after 1998? by Joanne Evans ( Book )
2 editions published in 2003 in English and held by 8 WorldCat member libraries worldwide
In an attempt to reduce high electricity prices in England and Wales the government has reduced concentration among generators and introduced New Electricity Trading Arrangements (NETA). Econometric analysis on monthly data from April 1996 to September 2002 implies support for two conflicting hypotheses. On a static view, increases in competition and the capacity margin were chiefly responsible for the fall in prices. If generators had been tacitly colluding before NETA, however, the impending change in market rules might have changed their behaviour a few months before the abolition of the Pool. That view implies that NETA reduced prices
Merchant transmission investment by Paul L Joskow ( Book )
2 editions published in 2003 in English and held by 8 WorldCat member libraries worldwide
Abstract: We examine the performance attributes of a merchant transmission investment framework that relies on market driven' transmission investment to provide the infrastructure to support competitive wholesale markets for electricity. Under a stringent set of assumptions, the merchant investment model has a remarkable set of attributes that appear to solve the natural monopoly problem traditionally associated with electricity transmission networks. We extend the merchant investment model to incorporate imperfections in wholesale electricity markets, lumpiness in transmission investment opportunities, stochastic attributes of transmission networks and associated property rights definition issues, the effects of behavior of transmission owners and system operators on transmission capacity, maintenance and reliability, coordination and bargaining considerations, forward contract, commitment and asset specificity issues. Incorporating these more realistic attributes of transmission networks and the behavior of transmission owners and system operators undermines the attractive properties of the merchant model and leads to inefficient transmission investment decisions
Lessons from phase 2 compliance with the U.S. Acid Rain Program by A. Denny Ellerman ( Book )
1 edition published in 2003 in English and held by 7 WorldCat member libraries worldwide
This paper provides preliminary answers to four questions concerning the behavior of agents operating under the SO2 Allowance Trading Program that could not be adequately answered until several years' data on compliance behavior in the final Phase II could be observed. The four questions are: 1. How is abatement distributed geographically when all fossil-fuel-fired electricity generating units are included? 2. Will agents draw down the accumulated Phase I bank, as expected and more or less efficiently, during Phase II? 3. Is there any evidence that the failure to endow new generating units with allowances constitutes a barrier to entry? 4. What can be said about the cost of the SO2 Allowance Trading Program in Phase II when all units are included and when it is fully phased in?
Market-based investment in electricity transmission networks : controllable flow by Gert Brunekreeft ( Book )
2 editions published in 2003 in English and held by 7 WorldCat member libraries worldwide
Distributed generation versus centralised supply : a social cost-benefit analysis by Francesco Gullì ( Book )
2 editions published in 2003 in English and held by 6 WorldCat member libraries worldwide
The difficult transition to competitive electricity markets in the U.S by Paul L Joskow ( Book )
2 editions published in 2003 in English and held by 6 WorldCat member libraries worldwide
This paper provides a comprehensive discussion of the causes and consequences of state and federal initiatives to introduce wholesale and retail competition into the U.S. electricity sector between 1995 and the present. Information about the development of wholesale market institutions, the expansion of wholesale power trade, the performance of wholesale market institutions, the entry of merchant generating capacity, and the financial collapse of the trading and merchant generating sector is presented and discussed. Issues regarding the ability of evolving spot wholesale energy market institutions and market power mitigation mechanisms to provide adequate incentives for investment in new generating capacity in the absence of some form of peak capacity obligation are discussed theoretically and evaluated empirically. The diffusion of retail competition and the performance of retail competition programs in eight states is examined empirically. Imperfections in transmission governance arrangements and barriers to efficient expansion of the transmission network are identified. The analysis leads to the overall conclusion that the development of efficient competitive wholesale and retail electricity markets continues to be a work in progress and faces many technical, institutional and political challenges in the U.S. Suggestions for successfully confronting, or at least better understanding, these challenges are presented
Allocating transmission to mitigate market power in electricity networks by Richard Gilbert ( Book )
1 edition published in 2002 in English and held by 6 WorldCat member libraries worldwide
A comparison of electricity market designs in networks by Andreas Ehrenmann ( Book )
2 editions published in 2003 in English and held by 6 WorldCat member libraries worldwide
Technical efficiency in electricity generation : the impact of smallness and isolation of island economies by Preetum Domah ( Book )
1 edition published in 2002 in English and held by 6 WorldCat member libraries worldwide
Reform and regulation of the electricity sectors in developing countries by Tooraj Jamasb ( Book )
1 edition published in 2002 in English and held by 6 WorldCat member libraries worldwide
Regulated and merchant interconnectors in Australia : SNI and Murraylink revisited by Stephen C Littlechild ( Book )
2 editions published in 2004 in English and held by 6 WorldCat member libraries worldwide
Does competition reduce costs? : assessing the impact of regulatory restructuring on U.S. electric generation efficiency by Kira Markiewicz ( Book )
2 editions published in 2004 in English and held by 5 WorldCat member libraries worldwide
"Although the allocative efficiency benefits of competition are a tenet of microeconomic theory, the relation between competition and technical efficiency is less clear. Neoclassical models of profit-maximization subsume static cost-minimizing behavior regardless of market competitiveness, but traditional cost-of-service regulation may mitigate incentives for cost-minimization, and agency models of managerial behavior suggest possible scope for competition to influence cost-reducing effort choices. This paper explores the empirical effects of competition on technical efficiency in the context of electricity industry restructuring. Restructuring programs adopted by many U.S. states made utilities residual claimants to cost savings and increased their exposure to competitive markets. Using data on annual generating plant-level input demand, we find that municipally-owned plants, whose owners were for the most part unaffected by restructuring, experienced the smallest efficiency gains over the past decade, while investor-owned utility plants in restructured states significantly reduced their nonfuel operating expenses and employment. The analysis also highlights the substantive importance of treating the simultaneity of input and output decisions, which we do through an instrumental variables approach"--National Bureau of Economic Research web site
Regulatory threat in vertically related markets : the case of German electricity by Gert Brunkreeft ( Book )
1 edition published in 2002 in English and held by 5 WorldCat member libraries worldwide
Introducing competition in the French electricity supply industry : the destabilisation of a public hierarchy in an open institutional environment by Dominique Finon ( Book )
1 edition published in 2003 in English and held by 5 WorldCat member libraries worldwide
The introduction of market rules in a electricity supply industry characterized by a vertically integrated monopoly and public ownership is not inherently doomed to failure if characteristics of the reform or other elements of industrial structures give room for enforcing market-rules. The organisation of the French ESI in a public monopoly was deeply rooted in French institutional peculiarities. Therefore the initial reform, which was adopted in February 2000 under the prescription of the European law of electricity market liberalization, introduced only a provision of regulated third party access to the grid, without legal separation of the transmission system operator and creation of a power exchange. But this created a dynamics of regulatory change which allows the development of an effective competition on the wholesale market and the industrial customers segment. The paper analyses how the governmental goal of preserving the national champion EDF have had two paradoxical effects in favour of competition development and the building of safeguards for the entrants: 1. the creation of a credible regulatory governance structure with effective power of control on the network access, and which promoted market-rules and the creation of a power exchange for balancing the incumbent's dominant position
Strategic behaviour under regulation benchmarking by Tooraj Jamasb ( Book )
1 edition published in 2003 in English and held by 5 WorldCat member libraries worldwide
Auctions to gas transmission access : the British experience by Tanga McDaniel ( Book )
1 edition published in 2002 in English and held by 5 WorldCat member libraries worldwide
When access to monopoly owned networks is constrained auctioning access rights can increase the efficiency of allocations relative to negotiation and grandfathering when there is sufficient competition among network users. Historically, access rights to entry capacity on the British gas network were granted by the monopoly network owner via negotiation; rights were later based on regulated tariffs with an increasing reliance on market based constraint resolution by the system operator. In 1999 an auction mechanism for allocating rights was introduced. Comparing the different allocation methods we conclude that where there is competition at entry terminals auctions have been successful with respect to anticipating spot prices, capturing producer rents and reducing the costs of alleviating network constraints. Moreover, auctions are more transparent and better facilitate entry
Core indicators for determinants and performance of the electricity sector in developing countries by Tooraj Jamasb ( Book )
1 edition published in 2004 in English and held by 5 WorldCat member libraries worldwide
"Since the early 1990s, substantial resources and efforts have been spent on implementing market-oriented electricity reforms in developing countries. While there are important sectoral, economic, and social dimensions involved in electricity reform, empirical analysis and evaluation of reforms have been of limited use for testing the economic rationale of reforms and policy advice. This may partly be attributed to a lack of generally accepted and measured indicators for monitoring the progress, impacts, and performance of reforms. In this paper the authors propose a set of indicators as a first step toward filling this gap and developing a coherent framework for studying electricity reform in developing countries that covers resource and institutional endowments, key reform steps, market structure, performance, and various impacts. "--World Bank web site
 
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Alternative Names
CMI
Massachusetts Institute of Technology Cambridge, Mass Cambridge MIT Institute
Massachusetts Institute of Technology Cambridge-MIT Institute
University Cambridge Cambridge MIT Institute
University of Cambridge Cambridge-MIT Institute
Languages
English (34)
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