Lessons from a Comparative Analysis of California and PJM Electricity Restructuring Models

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Center for Energy and Environmental Policy
This report explores the emergence of deregulated electricity markets in the U.S. by focusing on the origins of, models for and experiences with wholesale and retail competition in two parts of the country – California (the first U.S. state to open its utility sector to retail competition) and the mid-Atlantic region of the U.S. east coast (comprised of the states of Delaware, Maryland, New Jersey, Pennsylvania – and more recently, additional states – that receive transmission service from the PJM Interconnection and have their wholesale bidding markets managed by PJM).2 The very different origins of deregulation, models developed to manage competition, and experience with deregulation of the two jurisdictions offer important lessons for power sector reform policy.