A common response to energy-market risk is a complex market infrastructure, with significant administrative effort and cost dedicated to managing the risks and ensuring that the market functions...
Revisiting the Keystone State
Rate caps have squelched competition in Pennsylvania.
27, 2008, available at www.ercot.com. In addition, a recent academic study concluded that the costs of solar photovoltaic panels outweighed the economic and environmental benefits of this technology. Severin Borenstein, The Market Value and Cost of Solar Photovoltaic Electricity Production , University of California Energy Institute, January 2008, available at www.ucei.org.