Announcements•Problem set 1 solutions posted. Please come to office hours if youhave questions!!•Problem set 2 out on Thursday.•NO CLASS ON TUESDAY!!•Readings for today:•Theory: Lecture notes on Cournot/Bertrand•Applications: Wolfram (1999) ; Kleir and Linn (2011)
California is an energy policy trail blazer!•The California Energy Commission plays a critical role in designing,implementing and crafting policies and programs to create a low-carboneconomy.•The California Energy Commission’s five basic responsibilities are:•forecasting future statewide electricity needs and keeping historical data on energy;•licensing power plants to meet those needs;•promoting energy efficiency and conservation;•developing renewable energy resources and alternative energy technologies;•planning for and directing state response to energy emergencies.•The Energy Commission also has specific and limited regulatory authorityover the state’s 44 publicly owned utilities
I've written up the steps to applying for the entry-level Energy Analyst position at the California Energy Commission.•Apply for the nextEnergy Analystexam.•Here is the2019 exam schedule. The next application deadline is March 29 for the May 18 exam.•To apply, fill out the STD 678 form (can be found linked on the schedule) and turn in physical copy by mail or in-person.•You will receive two notifications by mail. First, notice that your application has been approved and second, confirmation of your exam date (with an explanation of the exam).•Take the in-person exam.•Wait to receive your exam results. (Can take 6-10 weeks from what I've heard.)•Once you've passed the exam, then you can start to apply forjob openings. Specific instructions & requirements for each opening are available on the linked page.I hope this will encourage more students to look into state jobs.Thanks to Maggie D!
Outline•Cournot in practice: UK electricity market (Wolfram 1999)•Bertrand in theory (see notes on bCourses)•Bertrand in practice: Automotive sector (Kleir and Linn,2011)
Cournot duopolies and the real world"Measuring Duopoly Power in the British Electricity Spot Market"Catherine Wolfram,American Economic Review, 1999.•Objective: evaluate the applicability of oligopoly models, and theCournot duopoly model in particular, to the British electricity market.•The British were among the first to try to restructure their electricitymarket.