Found 12 article(s) for author 'William Hogan'

Carbon Prices, Preferences, and the Timing of Uncertainty

Carbon Prices, Preferences, and the Timing of Uncertainty. William Hogan, March 6, 2017, Paper, “$40 revised July 2015 Social Cost of CO2, from “Technical Update of the Social Cost of Carbon for Regulatory Impact Analysis Under Executive Order 12866.” (U. S. Government Interagency Working Group on Social Cost of Carbon, 2016) Based on 3% constant discount rate, and an average of 3 climate-economy models, including DICE.Link

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Electricity Market Design: Political Economy and the Clean Energy Transition

Electricity Market Design: Political Economy and the Clean Energy Transition. William Hogan, November 9, 2016, Paper, “The focus on the electricity sector’s role in addressing climate change through improved efficiency, development of renewable energy, and use of low carbon fuels creates expanded demands for and of electricity restructuring.Link

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Demand Response: Getting the Prices Right

Demand Response: Getting the Prices Right. William Hogan, March 2016, Paper. “The legal issue over the Federal Energy Regulatory Commission’s (FERC) jurisdictional authority to set demand response prices is settled. In the so-called EPSA (Electric Power Supply Association) case, the Supreme Court found for FERC in support of its demand response Rule in Order 745. The second part of the decision addressed the compensation for demand response. Here the Supreme Court held that FERC had followed procedures to ensure that its demand response pricing mechanism is not arbitrary and capricious. The Order 745 demand response compensation mechanism calls for paying the Locational Marginal Price (LMP). The issue here is about the efficiency and incentives of this pricing rule. Link

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Electricity Scarcity Pricing Through Operating Reserves: An ERCOT Window of Opportunity

Electricity Scarcity Pricing Through Operating Reserves: An ERCOT Window of Opportunity. William Hogan, November 1, 2012, Paper. “Texas has a window of opportunity to complement its resource adequacy initiatives with an accelerated program to adopt an operating reserve demand curve. Suppressed prices in real-time markets provide inadequate incentives for both generation investment and active participation by demand bidding. An operating reserve demand curve developed from first principles would improve reliability, support adequate scarcity pricing, and be straightforward to implement within the framework of economic…” Link

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Multiple Market-Clearing Prices, Electricity Market Design and Price Manipulation

Multiple Market-Clearing Prices, Electricity Market Design and Price Manipulation. William Hogan, March 31, 2012, Paper. “Integration of physical transactions and financial contracts is central to successful electricity market design. Virtually every energy transaction has some impact on prices. The mere fact that a physical transaction can affect prices to some degree, and thereby influence the prices of related financial contracts, cannot be a per se definition of price manipulation. A principled policy for characterizing price manipulation in organized electricity markets includes a stand-alone profitability test. Multiple…” Link

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Demand Response Compensation, Net Benefits and Cost Allocation: Preliminary Comments

Demand Response Compensation, Net Benefits and Cost Allocation: Preliminary Comments. William Hogan, September 13, 2010, Paper. “The Federal Energy Regulatory Commission’s Supplemental Notice of Proposed Rulemaking (NOPR) addresses the question of proper compensation for demand response in organized wholesale electricity markets. Assuming that the Commission would proceed with the proposal “to require tariff provisions allowing demand response resources to participate in wholesale energy markets by reducing consumption of electricity from expected levels in response to price signals, to pay those demand…” Link

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The Natural Resources Trap: Private Investment without Public Commitment

The Natural Resources Trap: Private Investment without Public Commitment. William Hogan, June 2010, Book. “Volatility in commodity prices has been accompanied by perpetual renegotiation of contracts between private investors in natural resource production and the governments of states with mineral and energy wealth. When prices skyrocket, governments want a larger share of revenues, sometimes to the point of nationalization or expropriation; when prices fall, larger state participation becomes a burden and the private sector is called back in. Recent and newsworthy changes in…” (May require user account or purchase) Link

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Fairness and Dynamic Pricing: Comments

Fairness and Dynamic Pricing: Comments. William Hogan, April 30, 2010, Paper. “In “The Ethics of Dynamic Pricing,” Faruqui lays out a case for improved efficiency in using dynamic prices for retail electricity tariffs and addresses various issues about the distributional effects of alternative pricing mechanisms. The principal contrast is between flat or nearly constant energy prices and time-varying prices that reflect more closely the marginal costs of energy and capacity. Dynamic pricing includes time-of-use (TOU) rates with set periods for higher and lower prices, critical peak pricing (CPP) with higher prices applicable on selected…” Link

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