Case Studies in Major Bulk-Power Transactions

摘要

As part of a series of studies examining various aspects of opportunities for deregulating the electric utility industry and for introducing greater competition into bulk power markets, an analysis was made of selected bulk power sales subject to some form of Federal regulation and an attempt was made to determine whether these transactions provide any useful insights into the likely outcomes of similar intersystem transactions in a deregulated environment. This report describes two major bulk power agreements among utilities in the US and two major international bulk power agreements between utility systems in the US and Canada. Questions examined in each of these agreements include the nature of sale; extent of and exercise of FERC jurisdiction; effects of state regulation; extent of required wheeling service; and degree of available competition. The study results show that while deregulation and the resulting competitive pricing might in some instances result in improved efficiency and resource allocation, there are disadvantages to be considered as well. In any event, such deregulation would reduce costs, burdens and delays associated with the regulatory process. Consequently, a number of alternatives are suggested which might lead to improvement in the process of intersystem transaction regulation and some of which might also be considered to be partial deregulation. (ERA citation 08:020824)