Cross-border trade in electricity
构建了跨境双向电力贸易的经济理论，发现受监管电力公司在有备用容量时通过互惠负荷平滑获利，并用加拿大对美出口数据验证了模型，为北美电网整合提供了依据。
This paper develops an economic theory of cross-border two-way trade in electricity in which regulated electric utilities engage in profitable trading opportunities when they have sufficient reserve capacity. Electricity demand is stochastic. Twoway trade emerges in similarity to models of ‘reciprocal dumping. ’ Whereas in those models firms engage in rent-seeking reciprocal market access, in the present model electric utilities simply exploit cost variations in order to enhance economic efficiency through ‘reciprocal load smoothing. ’ After deriving estimating equations, the model is tested with cross-border trade data, exports from Canadian provinces to U.S. states. The empirical tests strongly support the theoretical model. Reciprocal load smoothing provides an economically significant rationale for integrating North America’s fragmented interconnections into a continental ‘supergrid.’