Alternating Currents

Timothy J. Brennan is a professor of policy sciences and economics at the University of Maryland, Baltimore County and a senior fellow at Resources for the Future (RFF). Karen L. Palmer is a senior fellow at RFF. Both Brennan and Palmer are coauthors of A Shock to the System: Restructuring America's Electricity Industry (1996).Salvador A. Martinez is a Ph.D. student in the Department of Economics at the University of Florida.

• Preface Introduction 1. Issues in Restructuring the Electricity Industry Part I: How the Industry Got Here 2. Understand the Electricity Industry 3. From Regulation to Competition 4. International and U.S. Restructuring Experiences 5. The California Experience Part II: Current Policy Issues 6. Competition in Energy, Regulation of Wires 7. Vertical Restructuring 8. Regulating Rates for Transmission and Distribution 9. Encouraging Competition 10. Balancing Loads and Dispatching Power 11. Ensuring Reliability in a Competitive Market 12. State and Federal Roles 13. Public Power's Role after Restructuring 14. Covering Stranded Costs 15. Restructuring and Environmental Protection 16. Public Purpose Programs in a Competitive Market Part III: The Future 17. Prospects for Restructuring Supplemental Reading Index

'An even better primer than Shock . . . excellent, balanced description of California Energy crisis. The best available introduction to electricity marketing restructuring.' Regulation'This book belongs on the shelf of any stakeholder in the restructuring debate - and every journalist who reports on it.' Electricity Daily