Electricity
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Wilson Sonsini Goodrich & Rosati

Stanford University 
Economics Department 
579 Jane Stanford Way Stanford, CA 94305-6072 

Website: https://fawolak.org/

(650) 724-1712 (650) 724-1717
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Senior Fellow at the Freeman Spogli Institute for International Studies
Holbrook Working Professor of Commodity Price Studies in Economics
Senior Fellow, by courtesy, at the Stanford Institute for Economic Policy Research
frank_wolak_033.jpg MS, PhD

Frank A. Wolak is a Professor in the Department of Economics at Stanford University. His fields of specialization are Industrial Organization and Econometric Theory. His recent work studies methods for introducing competition into infrastructure industries -- telecommunications, electricity, water delivery and postal delivery services -- and on assessing the impacts of these competition policies on consumer and producer welfare. He is the Chairman of the Market Surveillance Committee of the California Independent System Operator for electricity supply industry in California. He is a visiting scholar at University of California Energy Institute and a Research Associate of the National Bureau of Economic Research (NBER).

Professor Wolak received his Ph.D. and M.S. from Harvard University and his B.A. from Rice University.

Director of the Program on Energy and Sustainable Development
Date Label
Frank Wolak Speaker
Workshops
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In this session of the Shorenstein APARC Corporate Affiliate Visiting Fellows Research Presentations, the following will be presented:

Hironori Iwane, "Smart Grid Strategies Concerning Renewable Energies in the United States and Japan"

The topic of Smart Grid has become more and more popular because technologies concerning it are effective for efficiency improvement and renewable energy increase in electric power systems. However, Smart Grid is an ambiguous term and its meanings vary with different audiences. Therefore, it is increasingly difficult to identify what Smart Grid is or understand the potential benefits or concern for future electric power systems. As the result, grasping strategies for future electric power systems is complicated. This research focuses on clarifying the future strategies for electric power systems in ambiguous renewable and Smart Grid circumstances.

Daiju Nakahashi, "Current and Future Trends of the Smart Grid in the U.S. and Japan - A Study of New Business Opportunities"

The Smart Grid is a next generation power grid that controls the supply and demand of electricity by using advanced information and communications technology. The Smart Grid is considered revolutionary in the power industry - just as the Internet was to the IT industry. In recent years, worldwide interest in the Smart Grid has increased due to its close relationship to renewable energy. In particular, the interest in the United States has grown significantly since the Obama administration unveiled its plan to invest heavily in the Smart Grid. Nakahashi's research in the Smart Grid examines current trends in the United States and Japan and analyzes opportunities for new businesses.

Tomohiro Yamaguchi, "Mobile Industry in the U.S. and Japan:  The Differences and Direction in Each Country"

With the rise of smartphones, such as the iPhone and Android phone, the mobile internet market is dramatically growing in the United States. In Japan, on the other hand, the closed nature of the market is seen as a problem, which is sometimes called "Galapagos", with the negative connotation of the nature. Yamaguchi considers the difference between both markets, and attempts to answer the questions -"Which market is leading?" and "How much is it leading?" Finally, Yamaguchi will conjecture the direction of the future.

Philippines Conference Room

Hironori Iwane Kansai Electric Power Company Speaker
Daiju Nakahashi Sumitomo Corporation Speaker
Tomohiro Yamaguchi Sumitomo Corporation Speaker
Seminars
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On Tuesday, September 7, 2010, the Program on Energy and Sustainable Development in collaboration with the Stanford University's Graduate School of Business and Stanford Law School hosted a special conference on Climate Policy Instruments in the Real World.

This conference featured presentations by leading researchers on the political, economic, and regulatory challenges associated with major climate policy instruments.  The goal of this conference was to transfer the state-of-the-art in policy-relevant academic research on key aspects of climate policy design and analysis to the business, regulatory and policymaking communities.  Each presentation was followed by comments from two discussants that develop the practical implications of the research results presented for decision-makers in industry and government.

Topics our experts explored included: setting a price for carbon, engaging the developing world in climate change mitigation, the role of renewable energy sources in climate change mitigation, mechanisms for reducing greenhouse gases from the transportation sector, managing intermittency in the electricity sector, and mechanisms for adapting to climate change.  

We would like to thank everybody for their participation on September 7, 2010.

For more conference information, please visit:

http://www.certain.com/system/profile/web/index.cfm?PKwebID=0x1992925e31&varPage=home

 


Thank you to all our sponsors:

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Bechtel Conference Center

Robert Stavins Speaker Kennedy School of Government
Richard K. Morse Speaker
Severin Borenstein Speaker Haas School of Business, UC Berkeley
Christopher Knittel Speaker Department of Economics, UC Davis

Stanford University 
Economics Department 
579 Jane Stanford Way Stanford, CA 94305-6072 

Website: https://fawolak.org/

(650) 724-1712 (650) 724-1717
0
Senior Fellow at the Freeman Spogli Institute for International Studies
Holbrook Working Professor of Commodity Price Studies in Economics
Senior Fellow, by courtesy, at the Stanford Institute for Economic Policy Research
frank_wolak_033.jpg MS, PhD

Frank A. Wolak is a Professor in the Department of Economics at Stanford University. His fields of specialization are Industrial Organization and Econometric Theory. His recent work studies methods for introducing competition into infrastructure industries -- telecommunications, electricity, water delivery and postal delivery services -- and on assessing the impacts of these competition policies on consumer and producer welfare. He is the Chairman of the Market Surveillance Committee of the California Independent System Operator for electricity supply industry in California. He is a visiting scholar at University of California Energy Institute and a Research Associate of the National Bureau of Economic Research (NBER).

Professor Wolak received his Ph.D. and M.S. from Harvard University and his B.A. from Rice University.

Director of the Program on Energy and Sustainable Development
Date Label
Frank Wolak Speaker
Matt Kahn Speaker Institute of the Environment and Department of Economics, UCLA
Conferences
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Coal is both the world's fastest growing fossil fuel and a leading contributor to greenhouse gas emissions. While in the West coal use is under pressure, much of the developing world is predicating economic growth on cheap, reliable electricity from coal. As a result, the next few decades are likely to witness a massive build out of coal capacity.

Morse will explore where coal markets are growing, examine what economic and political variables have the greatest impact on coal use and the global coal trade, and discuss possible leverage points for CO2 mitigation. One mitigation option is a technology called carbon capture and storage, or CCS. Should we place big bets on this expensive and largely unproven option? Morse will discuss whether the current state of CCS deployment for coal-fired power falls short of mitigation levels required by many widely publicized targets and proceed to analyze the potential for commercial deployment of CCS technology at scale.

SLAC National Accelerator Laboratory
Panofsky Auditorium
Building 43

Richard Morse Speaker
Seminars
Paragraphs

 

 

In electricity, "downstream" CO2 regulation requires retail suppliers to buy energy from a mix of sources so that their weighted emissions satisfy a standard. It has been argued that such "loadbased" regulation would solve emissions leakage, cost consumers less, and provide more incentive for energy efficiency than traditional source-based cap-and-trade programs. Because pure load-based trading complicates spot power markets, variants (GEAC and CO2RC) that separate emissions attributes from energy have been proposed. When all energy producers and consumers come under such a system, these load-based programs are equivalent to source-based trading in which emissions allowances are allocated by various rules, and have no necessary cost advantage. The GEAC and CO2RC systems are equivalent to giving allowances free to generators, and requiring consumers either to subsidize generation or buy back excess allowances, respectively. As avoided energy costs under source-based and pure load-based trading are equal, the latter provides no additional incentive for energy efficiency. The speculative benefits of load-based systems are unjustified in light of their additional administrative complexity and cost, the threat that they pose to the competitiveness and efficiency of electricity spot markets, and the complications that would arise when transition to a federal cap-and-trade system occurs.

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Publication Type
Working Papers
Publication Date
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Energy Institute at HAAS
Authors
Frank Wolak
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UC Berkeley's the Energy Institute at Haas holds an annual research conference on energy research and policy.  This event brings together scholars and practitioners to exchange research results, ideas, and thoughts on topics related to electricity markets and regulation.

Frank Wolak is scheduled to speak during the Consumer Response to Retail Electricity Pricing section of the conference, titled "An Experimental Comparison of Critical Peak and Real-Time Pricing."

Chevron Auditorium, International House
University of California, Berkeley
2299 Piedmont Avenue
Berkeley, CA 94720-2320

Stanford University 
Economics Department 
579 Jane Stanford Way Stanford, CA 94305-6072 

Website: https://fawolak.org/

(650) 724-1712 (650) 724-1717
0
Senior Fellow at the Freeman Spogli Institute for International Studies
Holbrook Working Professor of Commodity Price Studies in Economics
Senior Fellow, by courtesy, at the Stanford Institute for Economic Policy Research
frank_wolak_033.jpg MS, PhD

Frank A. Wolak is a Professor in the Department of Economics at Stanford University. His fields of specialization are Industrial Organization and Econometric Theory. His recent work studies methods for introducing competition into infrastructure industries -- telecommunications, electricity, water delivery and postal delivery services -- and on assessing the impacts of these competition policies on consumer and producer welfare. He is the Chairman of the Market Surveillance Committee of the California Independent System Operator for electricity supply industry in California. He is a visiting scholar at University of California Energy Institute and a Research Associate of the National Bureau of Economic Research (NBER).

Professor Wolak received his Ph.D. and M.S. from Harvard University and his B.A. from Rice University.

Director of the Program on Energy and Sustainable Development
Date Label
Frank Wolak Speaker
Seminars
-

Frank Wolak discusses restructuring of the electricity industry in the U.S. using examples from California and explains the problems involved in energy market design.

Building 420, Room 40

Stanford University 
Economics Department 
579 Jane Stanford Way Stanford, CA 94305-6072 

Website: https://fawolak.org/

(650) 724-1712 (650) 724-1717
0
Senior Fellow at the Freeman Spogli Institute for International Studies
Holbrook Working Professor of Commodity Price Studies in Economics
Senior Fellow, by courtesy, at the Stanford Institute for Economic Policy Research
frank_wolak_033.jpg MS, PhD

Frank A. Wolak is a Professor in the Department of Economics at Stanford University. His fields of specialization are Industrial Organization and Econometric Theory. His recent work studies methods for introducing competition into infrastructure industries -- telecommunications, electricity, water delivery and postal delivery services -- and on assessing the impacts of these competition policies on consumer and producer welfare. He is the Chairman of the Market Surveillance Committee of the California Independent System Operator for electricity supply industry in California. He is a visiting scholar at University of California Energy Institute and a Research Associate of the National Bureau of Economic Research (NBER).

Professor Wolak received his Ph.D. and M.S. from Harvard University and his B.A. from Rice University.

Director of the Program on Energy and Sustainable Development
Date Label
Frank Wolak Speaker
Seminars
Authors
Jeremy Carl
News Type
Commentary
Date
Paragraphs
Jeremy Carl argues that despite India’s lack of a concrete binding target for significant CO2 emissions reductions, India’s climate commitments come through on other fronts.

Sometimes in diplomacy what is not announced is more revealing than what is. Such is certainly the case in India's recent climate and energy negotiations with the US, as both countries prepare to head to global climate talks in Copenhagen. The occasion of Manmohan Singh's state visit to the US brought the announcement of a flurry of energy and climate-related initiatives. These initiatives were a combination of substance and political theatre, with potentially important initiatives on environmental and regulatory capacity-building and technology partnerships buried under a deep layer of bureaucratic niceties.

What was more noticed was what was not announced: any agreement for India to have a binding target for CO2 emissions reductions, something US and European environmentalists have long claimed is necessary as part of a global effort to stave off severe climate change. And while the Indian government has eventually announced a targeted reduction in what is known as "emissions intensity", CO2 emissions per unit of GDP, that wasn't a big stretch, given India's current annual efficiency improvements. Furthermore, Minister for Environment and Forests Jairam Ramesh has made it abundantly clear in Parliament that such targets would be voluntary and not part of a binding international agreement.

With more than 60 world leaders in attendance, we can be assured that Copenhagen will not end in public failure. But the better question is whether the announced success in Copenhagen will have any practical meaning other than determining that diplomats can spin a "success" out of any actual events. Some Indian commentators have seemed to hope for a "success" of that sort - fretting about India being outmanoeuvred on the public stage by China and other developing countries that may be able to strike a more cooperative posture.

While from a tactical standpoint, such concerns are understandable (there is little reason for India to not commit to doing things it would like to do anyway, such as developing more efficient power plants or cars), from the perspective of actually taking leadership in addressing the climate problem, they mean little. In some ways, India is emulating the example of the US from the previous Kyoto climate round: while the US certainly should have been more proactive and engaged, at least the Americans had the integrity not to ratify an agreement that they couldn't keep. Many other nations could not claim that; they either missed their targets entirely, or resorted to bogus accounting tricks to meet their goals.

That India is showing its seriousness by not making climate commitments it won't live by should actually be seen as a mature and responsible decision, not an intransigent one. Does anyone think that China won't walk away from its promise if they have trouble meeting their emissions reduction goals?

As an alternative to the hot air that is likely to come out of Copenhagen, it is instructive to look at the potentially useful energy and climate agreements the US and India did sign during the PM's recent visit. The fact that clean energy was the second item listed behind security issues in the joint communiqué announced by Singh and Obama is clear evidence that both India and the US place a high importance on this aspect of their relationship.

India and the US announced numerous programmes, from the joint deployment of solar electricity in Indian cities to the strengthening of India's environmental regulatory and monitoring capacity - which is sure to be a critical step if India is to make serious and verifiable long-term commitments to emissions reductions. Perhaps most important, at least symbolically, was the announcement of joint scientific R&D work for renewable energy technologies. The Indo-US Clean Energy Research and Deployment Initiative, which promises joint development of new energy technologies and the development of a joint research centre with a public-private funding model, is one such initiative.

Ultimately, despite the bluster of diplomats in Delhi, Washington or Copenhagen, the solutions to the climate change problem must come through a technological revolution in the world's energy infrastructure. And it is here that India, with its burgeoning corps of bright young engineers, could make the biggest impact on climate change mitigation. Circumstances may not permit

India to lead the deal-making in Denmark, but if the Indian government gets serious about turning more of India's brightest young minds towards solving the clean energy problem, then India's contribution to solving the climate change conundrum may be significant indeed.

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Undraa Agvaanluvsan is a native of Mongolia. She is currently a visiting professor at CISAC. Undraa received her bachelor's (1994) and master's (1995) degrees in physics from the National University of Mongolia, and a diploma in high energy physics at the International Centre for Theoretical Physics in Trieste, Italy in 1997. Undraa obtained her PhD in 2002 at North Carolina State University in Raleigh, North Carolina, studying nuclear reactions and quantum chaos in nuclei. Following completion of her doctorate, she conducted postdoctoral research work in the Nuclear Experimental Physics group at Lawrence Livermore National Laboratory. She published and co-authored several dozen articles in peer-reviewed journals.

In the past several years, Undraa's research interests have broadened to include policy studies. In the policy arena, she served as an adviser to Mongolia's Minister of Foreign Affairs. As an advocate of scientific education, Undraa serves as director of the Mongolian-American (MonAme) Scientific Research Center in Ulaanbaatar, which focuses on energy, the environment, and mineral processing technologies.

Her research interests at CISAC focus on nuclear energy studies. More specifically, Undraa is studying uranium mining and processing, front-end issues of the nuclear fuel-cycle, nuclear fuel supplies, and nuclear energy policy. Using her prior experience with scientific research in quantum chaos, she is working with her CISAC colleague Kate Marvel to study the resiliency of the electricity grid network when stressed with the addition of more power sources, including nuclear power generation.

At Stanford, Undraa has directed undergraduate research through the Bing Overseas Studies Program. She also teaches nuclear energy policy in the International Policy Studies program.

Reuben W. Hills Conference Room

Undraa Agvaanluvsan CISAC Visiting Professor Speaker
Seminars
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