BORENSTEIN, SEVERIN; BUSHNELL, JAMES; KNITTEL, … - In: Journal of Industrial Economics 56 (2008) 2, pp. 347-378
For two years prior to the collapse of California's restructured electricity market, power traded in both a forward and a spot market for delivery at the same times and locations. Nonetheless, prices in the two markets often differed in significant and predictable ways. This apparent...