Marnay, Chris; Hamachi, Kristina S.; Khavkin, Mark; … - 2008
functionally divided into generation, transmission, and distribution activities, all of their gas-fired generating capacity was … lower prices, the enabling legislation mandated a 10% rate cut for all customers, which was implemented in a simplistic way … import electricity, numerous plant outages, and exercise of market power by generators drove up wholesale electricity prices …