A cost-benefit assessment of wholesale electricity restructuring and competition in New England

Matthew Barmack, Edward Kahn () and Susan Tierney

Journal of Regulatory Economics, 2007, vol. 31, issue 2, 184 pages

Abstract: We conduct a social cost-benefit analysis of wholesale electricity market restructuring and competition in New England. A counter-factual investment path is formulated which characterizes how the wholesale power system might have evolved in New England under continued regulation. The investment and operating costs of the counter-factual case are compared with a projected evolution of actual developments under restructuring and wholesale competition. An important contributor to restructuring benefits is improved operation of nuclear plants divested from incumbent owners under restructuring and transferred to more experienced owners. We estimate net benefits over the 18-year analysis period of about 2% of wholesale costs. Copyright Springer Science+Business Media, LLC 2007

Keywords: Electricity restructuring; Power plant efficiency; L430; L510; L940 (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1007/s11149-006-9022-8

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