Papers presented at the POWER Fourth Annual Research Conference on Electricity Industry Restructuring

"Draining the Pool: The Reform of Electricity Trading in England and Wales" by Richard Green, Cambridge University [slides]

Discussion by Robin Cohen, London Economics

"Empirical Analysis of the Impact of Hedge Contracts on Bidding Behavior in a Competitive Electricity Market" by Frank Wolak, Stanford University

Discussion by Paul Gribk, Perot Systems Corp.

"Pricing, Risk Sharing, and Profitability in the Deregulated Electric Power Industry" by Hendrick Bessembinder and Michael Lemmon, Arizona State University

Discussion by Catherine Wolfram, Harvard University

"Stochastic Models of Energy Commodity Prices and Their Applications" by Shijie Deng, UC Berkeley [slides]

Discussion by Ed Kahn, Analysis Group

"Incentive-Compatible Scoring and Settlement Rules for Multi-Dimensional Auctions" by Hung-Po Chao, EPRI and Robert Wilson, Stanford University [slides]

Discussion by James Macias, PG&E

"Why the Ancillary Services Markets in California Don't Work and What To
Do About It" by Laura Brien, NERA

Discussion by James Bushnell, UCEI

"Demand-Side Management Programs Under Retail Electricity Competition" by Tim Brennan, Resources for the Future [slides]

Discussion by Carl Blumstein, UCEI

"Diagnosing Market Power in California's Deregulated Wholesale Electricity Market" by Severin Borenstein, UCEI, James Bushnell, UCEI, and Frank Wolak, Stanford University [slides]

Discussion by Robert Gramlich, FERC