Financial players bring credit depth to energy markets, but will they play by the rules?
Locational pricing makes the network secure, since the utilities and other market participants get 'paid' to monitor the grid.
Perspective
A decade of restructuring has not affected the financial integrity of the average regulated utility.
Ideological bias, economic principles, success of previous deregulation, inordinate greed, and political expediency fueled the movement for electricity deregulation. The authorities, however, never deregulated. They chose to restructure.
Perspective
Hopes and dreams sag and fail, like an overheated power line.
The big blackout has reinvigorated the debate about deregulation, snaring hopes and dreams and bringing them back to Earth. For there can be no doubt that electric restructuring, through its emphasis on market prices and market incentives-but none for transmission-contributed mightily to the recent collapse.
Perspective
New realities demand new direction from utilities.
Perspective
FERC should consider a two-part tariff to boost transmission investment.
Transmission, rather than generation, is generally the constraint preventing customers from getting the power they desire.
Perspective
Proper authority and market monitoring and mitigation could make the system work.
In the last few years we have watched appalled as the western U.S. electricity markets collapsed, taking with them the solvency and viability of several very large participants, including the California Power Exchange (PX).
Perspective
The crisis of confidence in today's power industry is, at its heart, a crisis of ideas.
Social and political attitudes toward cheap power were a major obstacle to electricity liberalization in Poland; they also may be one in Russia.
The Feb. 1, 2003, edition of Public Utilities Fortnightly contained a pair of articles (Competition Lost, and Superpower Opportunities) about utilities that invested abroad during the 1990s. The pairing of the articles leads to the question of what can be learned from the past to facilitate investments in future opportunities.