All three may apply, especially if regulators go wrong and let ISOs make the business decisions.
Electricity transmission is a real business. With more than $50 billion of net plant,...
of the construction loop could lead to periods of under and over supply. To sort out the possible patterns, we turn to computer simulation. (See main text.)
Notes to Appendix
* The California ISO market surveillance unit reports that PX day-ahead prices and ISO real-time prices were similar for most load conditions during the early months of 1998. In a more recent assessment, Borenstein reports that the prices have "gravitated toward one another and have been statistically indistinguishable during most, though not all of 1999."
# The estimate of $28.5 per megawatt-hour is explained by Klein (1997). In a more recent report, the California Energy Commission estimates the fully levelized cost of a CCCT at $31.3 per megawatt-hour (Grix 2000).
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