Structure and pricing in the electric power industry

Opportunities for competition and deregulation

Derek McKay

Expert InsightsPublished 1982

Examination of an optimizing model which incorporates new technologies and discusses a possible new electric utility industry structure suggested by the model. First, a sketch of the background to the deregulation debate as it pertains to the power industry is provided. Second, a welfare maximizing model incorporating the new metering technology is presented. Third, an alternative institutional structure that is suggested by this economic modeling approach is sketched. Finally, some problems that would arise during a transition to this new institutional structure are discussed.

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McKay, Derek, Structure and pricing in the electric power industry: Opportunities for competition and deregulation. Santa Monica, CA: RAND Corporation, 1982. https://www.rand.org/pubs/papers/P6824.html.
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