Syllabus and Slides

Download Syllabus.pdf

1. An overview of the electricity industry

2. Economic theory and competition issues in the electricity industry

2.1. Theoretical analyses of competition in electricity markets

2.2. Market design issues

2.3. Identification and diagnosis of market power

3. Investment incentives in the electricity industry

4. Forward Contracts

5. Environmental Issues

Some suggested readings:

Borenstein, S. (2000) "UnderstandingCompetitive Pricing and Market Power in Wholesale Electricity Markets,'' Electricity Journal.

Borenstein, S. (2011) "The Private andPublic Economics of Renewable Electricity Generation", Journal of Economic Perspectives.

Fabra, N., N.H. von der Fehr and D. Habord (2006) "Designing Electricity Auctions", Rand Journal of Economics 37 (1), 23-346.

Federico, G, Vives, X. and Fabra, N. (2009) “Competition andRegulation in the Spanish Gas and Electricity Markets”, IESE SP-SP.

Griffin, J. and Puller, S. (2005) "A Primer on Electricity and the Economics ofDeregulation" Electricity Deregulation: Choices and Challenges, Griffin and Puller, eds. Chicago: University of Chicago Press.

Heal, G. (2009), “The Economics of Renewable Energy”, NBER Working Paper 15081.

Newbery, D. et al. “A Review of the Monitoring of Market Power” Working Papers 0502, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research.

Newbery, D. (2011) "Reforming Competitive Electricity Markets to Meet Environmental Targets" Cambridge Working Papers 1154.

Wolak, F. (2011) “RegulatingCompetition in Wholesale Electricity Supply”.