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100			_aBorenstein, Severin and Bushnell, James B. _937675
245			_aDo two electricity pricing wrongs make a right: Cost recovery, externalities, and efficiency
260			_aAmerican Economic Journal: Economic Policy
300			_a14(4), Nov, 2022: p.80-110
520			_aEconomists favor pricing pollution in part so that consumers face the full social marginal cost (SMC) of goods and services. But even absent externalities, retail electricity prices typically exceed private marginal cost, due to a utility's need to cover average costs. Furthermore, the SMC of electricity can fluctuate widely hour-to-hour, while retail prices do not. We show that residential electricity rates exceed average SMC in most of the US, but there is large geographic and temporal variation. This finding has important implications for pass-through of pollution costs, as well as for policies promoting dynamic pricing, alternative energy, and reduced electricity consumption. – Reproduced
773			_aAmerican Economic Journal: Economic Policy
906			_aELECTRICITY
942			_cAR