The University of California Energy Institute's

Center for the Study of Energy Markets

Eleventh Annual POWER Research Conference on

Electricity Regulation and Restructuring

March 24, 2006

DESCRIPTION

The University of California Energy Institute's Center for the Study of Energy Markets (CSEM) holds a one day research conference on electricity industry regulation and restructuring in Berkeley every March. The purpose is to bring together outstanding scholars and practitioners from around the world to exchange ideas and research results on topics related to electricity industry regulation and restructuring.

Sponsors

Alameda Power and Telecom

California Energy Commission

California Independent System Operator

California Public Utilities Commission

Division of Ratepayer Advocates

Energy Producers and Users Coalition

ISO New England

Pacific Gas & Electric

Sacramento Municipal Utility District

Sempra Energy

Silicon Valley Power

Southern California Edison

The Utility Reform Network

AGENDA

8:00 - 9:00 --- Registration and Continental Breakfast

9:00 - 9:15 --- Welcome

9:15 - 12:30

"Emissions Trading, Electricity Industry Restructuring, and Investment in Pollution Abatement," Meredith Fowlie (UC Berkeley)

"Lessons for a Cap-and-Trade Program, Managing Greenhouse Gas Emissions in California ," Dallas Burtraw (Resources for the Future), Alexander E. Farrell (UC Berkeley), Lawrence H. Goulder (Stanford University), and Carla Peterman (UC Berkeley)

Discussant:

Nathaniel Keohane (Yale University)

Kevin S. Leahy (Cinergy Corporation)

Break

"Virtual Divestitures. Will They Make a Difference?" Bert Willems (Florence School of Regulation)

"Hedging Quantity Risks with Standard Power Options in a Competitive Wholesale Electricity Market," Yumi Oum (UC Berkeley), Shmuel Oren (UC Berkeley), and Shijie Deng (Georgia Institute of Technology)

Discussants:

Steven L. Puller (Texas A&M)

Jeffrey Williams (UC Davis)

12:30 - 1:45 --- Luncheon

1:45 – 5:00

"Wealth Transfers from Implementing Real-Time Retail Electricity Pricing,” Severin Borenstein (UC Berkeley)

"Residential Customer Response to Real-Time Pricing: The Anaheim Critical-Peak Pricing Experiment," Frank Wolak ( Stanford University)

Discussants:

Ahmad Faruqui (Charles River Associates International)

Nancy Ryan (California Public Utilities Commission)

Break

"The Convergence of Market Designs for Adequate Generating Capacity," Peter Cramton ( University of Maryland), and Steven Stoft

"On an ‘Energy Only’ Electricity Market Design for Resource Adequacy," William Hogan ( Harvard University)

Discussants:

Mike Jaske (California Energy Commission)

Gary Stern (Southern California Edison)

Curtis Kebler (Goldman Sachs)

James Bushnell (UC Berkeley)

5:00 - 6:00 --- Reception