"Imagine a scenario in which there is great concern for maintaining an adequate number of grocery stores to serve the food-purchasing public around the clock, so that consumers always have access to open grocery stores to buy food. In response to this concern, a new revenue stream is created for grocery stores. Previously grocery stores earned their revenues entirely from consumer purchases of food. Now consumers will also be required to pay in advance to ensure that grocery stores will be open for business twenty-four hours per day"--
"Imagine a scenario in which there is great concern for maintaining an adequate number of grocery stores to serve the food-purchasing public around the clock, so that consumers always have access to open grocery stores to buy food. In response to this concern, a new revenue stream is created for grocery stores. Previously grocery stores earned their revenues entirely from consumer purchases of food. Now consumers will also be required to pay in advance to ensure that grocery stores will be open for business twenty-four hours per day"--
Todd Aagaard is Professor of Law at the Villanova University Charles Widger School of Law. He teaches and writes in environmental law, energy law, and administrative law. Prior to becoming an academic, he worked as an attorney in the Justice Department's Environment and Natural Resources Division.
Inhaltsangabe
1. Introduction 2. Capacity markets primer 3. Restructured electricity markets and regional transmission organizations 4. Reliability and the 'missing money' problem 5. Capacity policies 6. First-generation capacity markets 7. Second-generation capacity markets 8. Capacity market demand 9. Capacity market supply 10. Capacity market design 11. Market power 12. Minimum offer price rules 13. The Texas alternative 14. Conclusion.