"Regulation of Access, Pricing, and Planning of High Voltage Transmission in the U.S.," MIT CEEPR Working Paper 2024-3, February 2024, (with Joe DeLosa III and Johannes P. Pfeifenberger). The final version of this paper with be published in the Handbook of Electricity Regulation, Jean-Michel Glachant, Michael Pollitt, and Paul Joskow, editors, Edward Elgar publisher.
"Designing Distribution Network Tariffs Under Increased End-User Electrification: Can the U.S. Learn Something from Europe?" MIT CEEPR Working Paper 2024-2, January 2024, (with Graham Turk, Tim Schittekatte, Pablo Duenas Martinez, and Richard Schmalensee.)
“The Expansion of Incentive (Performance Based) Regulation of Electricity Distribution and Transmission in the United States,” MIT CEEPR Working Paper 2024-1, January 2024. (A final version will be published in a special issue of the Review of Industrial Organization edited by David Sappington and Dennis Weisman)
“Electricity Pricing Challenges in Future Renewables-Dominant Power Systems,” with D. Mallapragada, C. Junge, C, Wang, H. Pfeifenberger, and R. Schmalensee, Energy Economics, 2023, https://doi.org/10.1016/j.eneco.2023.106981 [preprint]
“Comments on Draft Revisions to OMB Circulars A-4 and A-94,” MIT CEEPR RC 2023-04, July 2023 (with C. Knittle, D. Lucas, G. Metcalf, J. Parsons, R. Pindyck and R. Schmalensee)
“Electricity Retail Rate Design in a Decarbonized Economy: An Analysis of TOU and Critical Peak Pricing,” The Energy Journal, 45(3), In Press,https://doi.org/10.5547/01956574.45.3.tsch (with T. Schittekette, D. Mallapragada, and R. Schmalensee).
“Reforming retail electricity rates to facilitate economy-wide decarbonization,” Joule 7, (2023), 1-6, https://doi.org/10.1016/j.joule.2023.03.012 (with T. Schittekette, D. Mallapragada, and R. Schmalensee).
Economy-Wide Decarbonization Requires Fixing Retail Electricity Rates
Tim Schittekatte, Dharik Mallapragada, Paul L. Joskow,
and Richard Schmalensee
CEEPR RC 2023-001
January 1, 2023
Electricity Retail Rate Design in a Decarbonizing Economy: An Analysis of Time-of-Use and Critical Peak Pricing
Tim Schittekatte, Dharik Mallapragada, Paul L. Joskow, and Richard Schmalensee
MIT CEEPR Working Paper 2022-015
October 2022
The Future of Energy Storage: An Interdisciplinary MIT Study.
May 2022
Electricity Sector Policy Reforms to Support Efficient Decarbonization.
H. Gruespecht, H. Pfeifenberger, P. Joskow, and R. Schmalensee,
MIT CEEPR WP 2022-007. Early Release of Chapter 8 of the MIT Future of Storage Study, April 2022
Properties of Deeply Decarbonized Electric Power Systems with Storage.
EEPR Working Paper 2022-003, Early Release of Chapter 6 of the MIT Future of Storage Study (multiple authors), February 2022.
Electricity Price Distributions in Future Renewables-Dominant Power Grids and Policy Implications.
D. Malallapraga et. al. MIT CEEPR WP-2021-017R, February 2022
Facilitating Transmission Expansion to Support Efficient Decarbonization of the Electricity Sector.
MIT CEEPR Working Paper 2021-009, REVISED. Final version in Economics of Energy and Environmental Policy, 2021, 10(2) 57-90, June 27, 2021
From Hierarchies to Markets in Electricity and Partially Back Again: Responding to Deep Decarbonization Commitments and Security of Supply Criteria.
Journal of Institutional Economics, Oliver Williamson Memorial Special Issue 2021, 1-17, May 31, 2021
Texas (ERCOT) Blackouts: What Happened? What's Next?
MIT Electricity Electric Power Systems Center, April 11, 2021
California Blackouts and Near Blackouts August and September 2020.
MIT CEEPR Lunch, December 2, 2020
California Blackouts and Fires.
MIT ILP/Energy Initiative Webinar, October 5, 2020
Optimal Wholesale Pricing and Investment in Generation.
with Thomas-Olivier Leautier
September 20, 2020, forthcoming as Chapter 3 in Handbook on Electricity Markets, Edward Elga, In press 2021
Transmission Capacity Expansion is Needed to Decarbonize the Electricity Sector Efficiently.
Joule 4, 1-3, January 2020
Competition for Transmission in the U.S.: FERC Order 1000.
Published in Transmission Network Investment in Liberalized Power Markets, Hesamzadeh, Rosellon and Vogelsang, Editors, pp275-322, Revised November 2019
Challenges for Wholesale Electricity Markets with Intermittent Renewable Generation at Scale: The U.S. Experience.
Oxford Review of Economic Policy, Volume 35, Number 2, 2019, pp. 291-331, CEEPR Working Paper 2019-001
Incentive Regulation in Theory and Practice: Electric Transmission and Distribution Networks (revised)
(original paper January 2006); Chapter 5 in Economic Regulation and Its Reform, (Nancy Rose, editor), University of Chicago Press, 2014
Natural Gas: From Shortages to Abundance in the U.S.
a shorter version will appear in the American Economic Review Papers and Proceedings, May 2013
Alfred E. Kahn 1917-2010
with Roger Noll
Review of Industrial Organization, 42(2), 107-126, March 2013
The Future of Nuclear Power After Fukushima
with John Parsons
Economics of Energy and Environmental Policy, 1(2):99-113,2012
Dynamic Pricing of Electricity
with Catherine Wolfram
American Economic Review Papers and Proceedings 2012, 102(3):381-385
Creating A Smarter U.S. Electricity Grid
A shorter version of this paper appears in the Journal of Economic Perspectives, Winter 2012, 26(1), pp. 1-21, October, 2011
Measuring the Cost and Value of Wind and Solar Generating Technologies
Presentation, MIT CEEPR Workshop, November 3, 2011
Comparing the Costs of Intermittent and Dispatchable Generating Technologies
CEEPR Working Paper, (revised February 2011). A short version appears in the American Economic Review Papers and Proceedings 2011, 101(3):238-241, May 2011
Market Imperfections versus Regulatory Imperfections
CESifo DICE Report 8(3), pp. 3-7, 2010
Vertical Integration
Symposium in Honor of Oliver Williamson, Antitrust Bulletin, 55(3), pp. 545-586, Fall 2010
Pricing CO2 Emissions
Mullen Lecture, University of Maryland Baltimore County, April 2010
Dumb Grids, Smart Grids, Our Grids
Yale Alumni Energy Conference, March 5, 2010
Nuclear Power in Developing Countries
World Bank, March 2, 2010
The Economic Future of Nuclear Power
with John Parsons, Daedelus, The Global Nuclear Future, Volume 1, October 2009
The U.S. Energy Sector: Prospects and Challenges, 1972-2009
Dialogue, Volume 17, No. 2, August 2009
Deregulation: Where Do We Go From Here?
2009 Distinguished Lecture, AEI Center for Regulatory and Market Studies, February 10, 2009
(Published October 2009)
Incentive Regulation and its Application to Electricity Networks
Review of Network Economics, Volume 7, No. 4, December 2008
Lessons Learned from Electricity Market Liberalization
The Energe Journal, Special Issue on the Future of Electricity, pp. 9-42, 2008
Hans Landsberg Memorial Lecture
Resources for the Future, October 1, 2008
Challenges for Creating a Comprehensive National Electricity Policy
Technology Policy Institute, September 26, 2008
EU Emissions Trading System in Perspective
with A. Denny Ellerman, Pew Center on Global Climate Change, May 2008
Investment in New Base Load Generating Capacity
EIA 30th Anniversary Conference, April 8, 2008
Transmission Network Congestion
Presentation, MIT CEEPR Fall Workshop, December 6-7, 2007
Capacity Payments in Imperfect Electricity Markets: Need and Design
(reprints available for non-commercial use by sending an email request to the author)
Utilities Policy, 16:1590170, 2008
Electricity from Uranium: The Prospects for Nuclear Power in the United States
The Milken Institute Review, Fourth Quarter 2007, 32-43.
Alternative System Operator Models
Presented at the Cambridge-MIT Electricity Workshop, London, September 28, 2007
Reliability and Competitive Electricity Markets (Supplementary Material)
with Jean Tirole
Rand Journal of Economics, 38(1), 60-84, Spring 2007
Retail Electricy Competition
with Jean Tirole
Rand Journal of Economics 37(4), Winter 2006, 799-815
Time and Location Differentiated NOx Control in Competitive Electricity Markets
Katherine Martin, Paul Joskow and Denny Ellerman
April 2007
Competitive Electricity Markets and Investment in New Generating Capacity
The New Energy Paradigm(Dieter Helm, Editor), Oxford University Press, 2007
Regulation of Natural Monopolies
August 2006. forthcoming in Handbook of Law and Economics 2007
Regulating Carbon Dioxide Capture and Storage
with M.A. de Figueiredo et. al., April 2007
The Future of Coal
An Interdisciplinary MIT Study, March 2007
Prepared Remarks for FERC Technical Conference on Wholesale Electricity Markets
February 2007
The Future of Nuclear Power in the United States: Economic and Regulatory Challenges
Prepared for the American Enterprise Institute Workshop on Nuclear Power, December 2006
Supply Security in Competitive Electricity and Natural Gas Markets
Beesley Lecture, London, December, 2005; published in Utility Regulation in Competitive Markers (c.Robinson ed., Edward Elgar Press) June 2007
Vertical Integration
December 2006, Issues in Competition Law and Policy/ ABA Antitrust Section, forthcoming (2008)
Incentive Regulation for Electricity Networks
Spring 2006, CESifo DICE Report, February 2006
Future Prospects for Nuclear Power: A U.S. Perspective
University of Paris-Dauphine (Lecture/Presentation), May 2006
Energy Security and CO2 Emissions
University of Paris-Dauphine Presentations, March 2006
Designing Wholesale Electricity Markets
University of Paris-Dauphine (Lecture/presentation), March 2006
Markets for Power in the United States: An Interim Assessment
The Energy Journal 27(1), 1-36, January 2006
Merchant Transmission Investment
with Jean Tirole, Journal of Industrial Economics 53(2), pp. 233-264, June 2005
Transmission Policy in the United States
Utilities Policy 2005, Volume 13, pp. 95-115, Winter 2005
Why Capacity Obligations and Capacity Markets?
"The Economics of Electricity Markets," Toulouse, France, June 2005
Vertical Integration
Handbook of New Institutional Economics, Springer/Kluwer, Spring 2005
Resource Adequacy (Again)
Presentation, Mass Electricity Restructuring Roundtable, March 2005
Patterns of Transmission Investment
Electricity Infrastructure Investment Workshop, CRE, Paris, France, March 2005
Regulation and Deregulation After 25 Years: Lessons for Research in Industrial Organization
Review of Industrial Organization 26:169-193 (2005), October 2004
Wholesale Power Markets in the United States
European Forum on Electricity Reforms (SESSA), Cambridge, England, July 14-15, 2004
New Institutional Economics: A Report Card
ISNIE Presidential Address- Budapest, Hungary; September 2003, Revised June 2004
Electricity Restructuring: Lessons Learned
Latin American Journal of Economics, December 2003
Energy Policies and Their Consequences After 25 Years
The Energy Journal, Volume 24, Number 4, October 2003
The Blackout
August 2003
The Future of Nuclear Power
MIT Faculty Study Group, July 2003
Emissions Trading in the United States
with D. Ellerman and D. Harrison, Pew Center on Global Climate Change, May 2003
The Difficult Transition to Competitive Electricity Markets in the U.S.
Bush Presidential Conference Center, May 2003
United States of America Before Federal Energy Regulatory Commission: Remedying Undue Discrimination through Open Access Transmission Servicea nd Standard Electricity Market Design, January 2003
A Quantitative Analysis of Pricing Behavior in California's Wholesale Electricity Market During Summer 2000
with Edward Kahn, The Energy Journal, December 2002
Statement of Professor Paul L. Joskow Before The Senate Committee on Govermental Affairs
November 2002
Retail Competition in the U.S.
Oviedo, Spain, July 2002
Clearing the Polluted Sky
Paul Joskow and A. Denny Ellerman, The New York Times, May 2002
Transaction Cost Economics, Antitrust Rules and Remedies
Journal of Law, Economics and Organization, April 2002
A Quantitative Analysis of Pricing Behavior in California's Wholesale Electricity Market During Summer 2000: The Final Word
with Edward Kahn, February 2002
California's Electricity Crisis
Oxford Review of Economic Policy Volume 17, December 2001
Regional Transmission Organizations: Don't Settle for Nth Best
Presentation, September 2001
Identifying the Exercise of Market Power: Refining the Estimates
with Edward Kahn, July 2001
U.S. Energy Policy During the 1990s
American Economic Policy in the 1990s (eds., Frankel and Orszag) MIT Press, January 2002
The Right Answer to the Energy Crunch
The Boston Globe, June 2001
U.S. Senate Testimony
June 2001
California's Electricity Market Meltdown
The New York Times, January 2001
Transmission Rights and Market Power on Electric Power Networks
Rand Journal of Economics, 31(3), Fall 2000
Transaction Cost Economics and Competition Policy
October 2000
Transmission Rights and Market Power on Electic Power Networks
with Jean Tirole, January 2000
Why Do We Need Electricity Retailers? or Can You Get It Cheaper Retail?
January 2000
United States of America Before Federal Energy Regulatory Commission: Regional Transmission Groups Notice of Proposed Rulemaking, September 1999
Transmission Rights and Market Power on Electric Power Networks I: Financial Rights
with Jean Tirole, November 1998
Transmission Rights and Market Power on Electric Power Networks II: Physical Rights
with Jean Tirole, December 1998