Restructuring the Electricity Industry: Lessons from the United States
Institution(s): Hong Kong Centre for Economic Research
Date: Apr 22, 2003 (Tuesday)
Time: 12:00 noon - 02:00 pm
Venue: J.W. Marriott Hotel, Level 3
Fee: $450 per person
**PLEASE NOTE THAT THE LUNCH TALK HAS BEEN CANCELLED. WE APOLOGIZE FOR ANY INCONVENIENCES CAUSED**
The talk will briefly cover the history of the move to deregulate or restructure network industries in the United States and the experience to date with the restructuring of the electricity industry. In particular, the talk will focus on the regulatory and oversight functions of the Federal Energy Regulatory Commission, state, and private entities. Successes and failures will be discussed. In particular, California’s regulatory failures with its own restructuring efforts will be covered in detail, along with a prescriptive description of what went wrong and how it could have been avoided. The focus will be on the regulatory process and lessons learned about how to oversee and monitor markets, how to mitigate market power, and some issues with maintaining reliability in a market setting. Also covered will be the varied experiences of independent power producers in placing new generation investments in different states. The talk will conclude with a look at what still remains to be done to create nationwide competitive electricity markets in the United States.
Frank Rusco received his Ph.D. in economics from the University of Washington in 1991. He taught economics at the University of Hong Kong for six years. He is currently Assistant Director of the Center for Economics at the United States General Accounting Office. Dr. Rusco’s research has focused on topics related to energy, the environment, and the design of markets for natural resources. He is very knowledgeable about Hong Kong, and has published, together with W.D. Walls in 1995, a monograph for the Hong Kong Centre for Economic Research "Clearing the Air: Vehicular Emissions Policy for Hong Kong."