[能源经济学研讨会]Questions on Energy Market Manipulation



Questions on Energy Market Manipulation
本次能源经济学研讨会邀请到宾夕法尼亚州立大学能源和环境经济和MICASU系教授Andrew N. Kleit做学术演讲。

   One crucial element of restructured electricity market regulation is the need to act against firms that engage in market manipulation. Unfortunately, manipulation law is poorly developed, in part because the Federal Energy Regulatory Commission (FERC) has its confused its different roles as a prosecutor and a court.  Thus, at present, there seems to have been little progress on questions of what constitutes manipulation, what evidence is needed to show manipulation, and how manipulation laws can be best applied.  Currently there appear to be two different types of manipulation cases.  In the first, the theory of manipulation is clear, but the evidence to support that theory is weak.  In the second, while the evidence is clear, it is uncertain whether the behavior in question constitutes “manipulation.”  I suggest that the proper method for advancing manipulation law would be to remove from FERC its judicial role, and send these cases directly to the federal judiciary for determinations of liability.

    Andrew N. Kleit is Professor of Energy and Environmental Economics and MICASU Faculty Fellow at The Pennsylvania State University.  He is the author of over 80 published academic articles and six books in the areas of energy, regulation, and antitrust.  His latest work is Modern Energy Market Manipulation (Emerald 2018).  He has been a staff economist at several government agencies, including the Federal Trade Commission and the Federal Energy Regulatory Commission.  Professor Kleit has a Ph.D. in economics from Yale University.

    能源经济学研讨会(Energy Economics Seminar)由中国人民大学经济学院能源经济系定期推出,旨在为研究中国能源经济问题的学者提供交流的平台。

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