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Faculty Research Working Paper Series
William W. Hogan
Raymond Plank Professor of Global Energy Policy
phone: (617)495-1317
fax: (617)496-1520
Transmission Market Design.
Hogan, William W. "Transmission Market Design." KSG Faculty Research Working Papers Series RWP03-040, October 2003.
Abstract
Coordinated electricity spot markets support open access to existing transmission grids. Associated financial transmission rights provide a key ingredient for long-term contracting and property rights for grid expansion. Design of a mixed system of merchant and regulated transmission investment presents a challenge for regulators and market participants. With the right choice, merchant transmission investment could play a significant but not exclusive role in efficient transmission expansion. With the wrong choice, the unintended consequences could undermine the whole foundation of electricity market restructuring.
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