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California Electricity Crisis Assignment

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Timed Individual Assignment

Attempt any 4.

1. Why did we begin with the electricity market reform with the liberalisation of the electricity

generation sector? Please justify your answers with relevant examples or evidence.

2. What roles the system operator plays in the electricity market? Please support your answers

with relevant examples.

3. Compare and contrast bilateral trading and pool trading. What are the major differences

between the two trading mechanisms? How can these differences influence their applications in

the electricity market?

4. Please read the California blackout case. What were the economic reasons behind the incident?

What lessons can we learn from the case?

5. Please read the case of Texas power grid failure. What should we learn from the recent power

grid failure in Texas? Please explain your viewpoints from economics perspectives.

6. What economic benefits can a smart grid bring about? Please support your answers with


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