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June 2016
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Viswanath Pingali is faculty in the Economics
Area. His research interests are Applied
Game Theory, Applied Econometrics, Behavioral Economics, Regulatory Economics,
Pharmaceuticals.
viswanath@iima.ac.in viswanath@iima.ac.in
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Strategic Investment in Merchant Transmission: The Impact of Capacity Utilization RulesIn Energy Policy, 85, October 2015, 455–463 (Online Reference: DOI: 10.1016/j.enpol.2015.03.027)Viswanath Pingali, Federico Boffa and Francesca Sala In this paper we look at the relative merits of two capacity
utilization regimes in the merchant electricity transmission network: Must
offer (Mo) where the entire capacity installed has to be made
available for transmission and Non Must Offer (NMo) where some
capacity could be withheld. We look at two specific cases: (i) demand for
transmission varies across time, and (ii) vertical integration is allowed
between investors in transmission network and electricity generators. In the
case of time-varying demand under Mo, we find that a monopolist may underinvest in
transmission when compared toNMo, although NMo may lead to more capacity withholding.
In the case of vertical integration, we find that when the market power is with
the generators of the exporting node, without vertical integration no
welfare-enhancing merchant investment would occur, neither under Mo nor NMo. Further, if the generators in the importing node
have market power, in case vertical integration is allowed, Mo is better than NMo. Finally, we
also argue that the incentive to collude among various transmission network
investors is mitigated with Mo in
place.
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Abstracts of other articles published in refereed journals included in this issue
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Debjit Roy, Fabiana Tornese, Andres L. Carrano, Brian K. Thorn and Jennifer A. Pazour
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Ernesto Noronha, Premilla D’Cruz and Sarosh Kuruvilla
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Neharika Vohra and Rahul Chandra Sheel
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Poornima Varma and Akash Issar
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Jamus Jerome Lim and Sanket Mohapatra
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Rajesh Chandwani and Rahul Dey
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Navdeep Mathur, Sejal Patel and Richard Sliuzas
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Ankur Sarin and Saravana Jaikumar
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Sachin Jayaswal, Navneet Vidyarthi and Vikranth Babu Tirumala Chetty
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Viswanath Pingali and Ratul Lahkar
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Amit Karna, Christian Landau and Miriam Sailer
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Manish Aggarwal and Madasu Hanmandlu
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