Data and Code for: When Does Regulation Distort Costs? Lessons from Fuel Procurement in U.S. Electricity Generation: Reply

Principal Investigator(s): View help for Principal Investigator(s) Steve Cicala, Tufts University

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Project Citation:

Cicala, Steve. Data and Code for: When Does Regulation Distort Costs? Lessons from Fuel Procurement in U.S. Electricity Generation: Reply. Nashville, TN: American Economic Association [publisher], 2021. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2021-03-19. https://doi.org/10.3886/E127741V1

Project Description

Summary:

The average effect of deregulatory policies on fuel prices at coal-fired power plants is strongly influenced by plants that were initially paying the highest prices for fuel. Primary sources document that these plants were locked into long-term, high-cost fuel contracts, and only secured market rates post-deregulation. While these plants' fuel costs were unusual, their response to deregulation was not: both coal- and gas-fired plants reduce fuel prices one-for-one with the amount they were initially paying above their neighbors' costs. Our understanding of deregulation is not improved by excluding those who stand to benefit most.

Scope of Project

JEL Classification:
      L51 Economics of Regulation
      L71 Mining, Extraction, and Refining: Hydrocarbon Fuels
      L94 Electric Utilities
      L98 Industry Studies: Utilities and Transportation: Government Policy
      Q35 Hydrocarbon Resources
      Q41 Energy: Demand and Supply; Prices
      Q48 Energy: Government Policy

Geographic Coverage: United States

Time Period(s): 1/1/1990 – 12/31/2008 (1990-2012)

Methodology

Data Source:
https://www.openicpsr.org/openicpsr/project/112957/version/V1/view

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Published Versions

V1 [2021-03-19]

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