Announcements
•
Problem set 1 solutions posted. Please come to office hours if you
have 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-carbon
economy.
•
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 authority
over 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 next
Energy Analyst
exam.
•
Here is the
2019 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 for
job 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 the
Cournot duopoly model in particular, to the British electricity market.
•
The British were among the first to try to restructure their electricity
market.

