Beyond Market Shares and Cost-Plus Pricing: Designing a Horizontal Market Power Mitigation Framework for Todayʹs Electricity Markets

Without proper market definition, any diagnostic tests for market power and market pricing safeguards could create more long-term harm than good. FERC needs to supplant its default market definition approach with a prescribed set of market definition techniques, then allow stakeholders to implement these techniques to define the relevant markets in which they participate.