We compare several models for Bear Stearns' credit default swap spreads estimated via a Markov chain Monte Carlo algorithm. The Bayes Factor selects a CKLS model with GARCH-EPD errors as the best model. This model captures the volatility clustering and extreme tail returns of the swaps during...

Historically, regulators imposed resource-planning rules on electric utilities because of the utility`s obligation to serve. Given that obligation, regulators wanted utilities to plan for and procure a portfolio of resources that provided customers with low-cost electricity, stable prices, and a...

This report, prepared by ICF Resources, under a sub-contract with IT Corporation, is concerned chiefly with examining the economic concepts underlying an Incremental Cost Pricing Framework (ICPF), which is defined here as a pricing regime that takes into account several factors: economic...

This paper reports on the developments and findings of the Distribution Short-Term Load Forecaster (DSTLF) research activity. The objective of this research is to develop a distribution short-term load forecasting technology consisting of a forecasting method, development methodology, theories...

Discussions and decisions in states as diverse as California, Wisconsin, and Rhode Island are focusing on moving the United States electric industry from one dominated by vertically-integrated and highly regulated utility-based electricity monopolies to one characterized by largely divested and...

Most states in the US are involved in electric industry restructuring, from considering the pros and cons in regulatory dockets to implementing legislative mandates for full restructuring and retail access for all consumers. Several states and utilities have initiated pilot programs in which...

This paper reviews the status of the South African electricity supply industry (ESI) and proposals for reorienting and restructuring it. South Africa has been intensely examining its ESI for more than 4 years in an effort to determine whether and how it should be restructured to best support the...

In this Appendix, the study framework and evaluation for economic and technical factors are explained. This material documents the analysis performed for Section 4.8 of the EIS. Coupled with the environmental analysis, the evaluation factors described below will be used to judge the relative...

In today’s developing world the vast majority of water and electricity services are provided by public utilities. Rather than asking “who should provide the servicesâ€, the authors adopt a financing point of view and look at how access to basic utilities for all can be funded in...

In this article I conduct an institutional analysis on the balance of power existent in the EU, both before the enforcement of the Lisbon Treaty and after. I study the new decisional mechanisms as provided by the treaty, and try to determine the changes in the interactions between institutions,...