Date of Original Version

7-2001

Type

Article

Abstract or Description

This paper examines the effects of imperfect competition in unregulated electricity markets from a general equilibrium perspective, and demonstrates that horizontal market power can explain both the large peak-period price spikes observed recently in California and elsewhere, and the marked reduction in additions to capacity that have also occurred during the transition to competitive markets

DOI

10.1016/S0022-0531(03)00017-6

Comments

GSIA Working Paper #2001-E27

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Published In

Journal of Economic Theory, 109, 2, 300-323.