Workshop for Performance in Network Industries
October 6 - 7, 2011
When the Federal Energy Regulatory Commission began the restructuring of the U.S. electricity market in 1996, it envisioned "more efficient, lower cost power to the nation’s electricity consumers." Fifteen years later, the question of whether this restructuring has had the desired result is still open. PURC Director of Energy Studies Ted Kury discussed his paper, Price Effects of Independent Transmission System Operators in the U.S. Electricity Market at the Florence School of Regulation’s Workshop for Performance in Network Industries.
Using United States data from the past 19 years, he concluded that the price effects are small in magnitude and not measured precisely, and wonders if the ado over electric restructuring has been justified. The workshop at the European University Institute in Florence, Italy also featured papers from the telecommunications and transportation sectors, and participants exchanged ideas on the scope and meaning of performance, as well as the distinction between efficiency and effectiveness in network industries.