Twelfth Annual POWER Research Conference on

Electricity Industry Restructuring

March 23, 2007

Clark Kerr Campus
Joseph Wood Krutch Theatre
2601 Warring Street
University of California, Berkeley

THE CONFERENCE

Organized by the University of California Energy Institute's (UCEI) Center for the Study of Energy Markets (CSEM), the conference presents the work of leading researchers on some of the most challenging issues facing the electricity industry. This year, the papers directly address issues of greenhouse gas reduction, tradeable emissions permits, gains from inter-regional electricity trading, capacity markets, and generator investment risks. Discussants of the work will include both researchers and practitioners.

AGENDA

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

9:00 - 9:15 --- Welcome

9:15 - 12:30

Meredith Fowlie (University of Michigan), "Incomplete Environmental Regulation and Leakage in Electricity Markets." Slides

James Bushnell (UC Energy Institute), Carla Peterman (UC Berkeley) and Catherine Wolfram (UC Berkeley), "Local Solutions to Global Problems?: California's Greenhouse Gas Policies." Slides

Discussants:
Lawrence Goulder, Stanford University
Dan Skopec, California Environmental Protection Agency

Break

Olivier Deschenes (UC Santa Barbara) and Michael Greenstone (MIT), "Climate Change, Mortality, and Adaptation: Evidence from Annual Fluctuations in Weather in the US."

Ryan Kellogg and Hendrik Wolff (UC Berkeley), "Does Extending Daylight Saving Time Save Energy? Evidence from an Australian Experiment." Slides

Discussants:
Ted Gayer, Georgetown University and Public Policy Institute of California Slides
Matthew Kotchen, UC Santa Barbara Slides

12:30 - 1:45 --- Luncheon

1:45 - 5:00

Erin Mansur (Yale University) and Matthew White (University of Pennsylvania), "Market Organization and Market Efficiency in Electricity Markets."

Eric Schubert, David Hurlbut, Parviz Adib (Public Utility Commission of Texas) and Shmuel Oren (UC Berkeley), "The Texas Energy-Only Resource Adequacy Mechanism." Slides

Discussants:
Peter Fox-Penner, The Brattle Group
Frank Wolak, Stanford University and UC Energy Institute

Break

Thomas Lyon and Eun-Hee Kim (University of Michigan), "Greenhouse Gas Reductions or Greenwash?: The DOE’s 1605b Program." Slides

Richard Green (University of Birmingham), "Carbon Tax or Carbon Permits: The Impact on Generators’ Risks." Slides

Discussants:
Joe Aldy, Resources for the Future Slides
Charles Rossmann, Southern Company Slides

5:00 - 6:00 --- Reception