Papers, Op-Eds, Testimony and Presentations

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

From Scarcity to Abundance:  Government and Private Initiatives to Allocate N95 Masks During the COVID-19 Pandemic in the U.S.

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

United States of America Before Federal Energy Regulatory Commission: Regional Transmission Groups Notice of Proposed Rulemaking, August 1999

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