Prof WOO, Chi Keung   胡志強
Adjunct Professor
Department of Asian and Policy Studies
Phone No: (852) 2948 7495
(852) 2948 7495
Scopus ID
Professional Profile

As one of the world’s top 2% of scientists in the field of energy (1,452 out of over 186,000 based on; Tables S6 and S7), Prof. Woo specializes in energy economics and applied microeconomics. He teaches applied microeconomics and regulation.

Prof. Woo has won a General Research Fund project (HK$254K), a Teaching Development Grant (HK$381K), a Public Policy Research project (HK$586K), five faculty research prizes (HK$250K), and gold medals for Online Assessment System for Individual Scores (OASIS) in the International Innovation and Invention Competition (IIIC) Taiwan 2020 and the 2021 Special Edition – Inventions Geneva Evaluation Days.

With 30+ years of industry experience, Prof. Woo has 170+ publications in such journals as Quarterly Journal of Economics, Journal of Public Economics, Economics Letters, Journal of Regulatory Economics, Energy Law Journal, Transportation Research Part A: Policy and Practice, OMEGA, Applied Energy, Energy, Energy Economics, The Energy Journal, Energy Policy, Resource and Energy Economics, IEEE Transactions on Power Systems, and IEEE Transactions on Smart Grid. Most of his publications are based on research projects funded by electricity companies and government agencies in North America, Israel, and Hong Kong.

Recognized by Who’s Who in America, Prof. Woo is: (a) a senior fellow elected in 2012 by the United States Association for Energy Economics; (b) an editorial board member of Energy (5-year impact factor: 5.747) and a guest editor of a 2006 special issue on electricity market reform and deregulation and a 2010 special issue on demand response resources; (c) an editorial board member of Energy Policy (5-year impact factor: 5.458) and a guest editor of a 2011 special issue on renewable energy; and (d) an editorial board member of The Energy Journal (5-year impact factor: 2.739) and a guest editor of a 1988 special issue on electricity reliability.

Selected Output

Scholarly Books, Monographs and Chapters
Cheung, Y.L., Cheng, Y.S., & Woo, C.K. (2017). Hong Kong’s Global Financial Centre and China’s Development. New York, USA: Routledge.

Journal Publications
Li, R., Woo, C.K., & Cox, K. (2021). How price-responsive is residential retail electricity demand in the US?. Energy, 232 (120921), 1-10.
Woo, C.K., Tishler, A., Zarnikau, J., & Chen, Y. (2021). Average residential outage cost estimates for the lower 48 states in the US. Energy Economics, 98 (105270), 1-8.
Woo, C.K., Tishler, A., Zarnikau, J., & Chen, Y. (2021). A back of the envelope estimate of the average non-residential outage cost in the US. The Electricity Journal, 34 (106930), 1-5.
Cheng, R., Li, R., & Woo, C.K. (2021). Regional energy-growth nexus and energy conservation policy in China. Energy, 217 (119414), 1-12.
Brown, D.P., Zarnikau, J., & Woo, C.K. (2020). Does locational marginal pricing impact generation investment location decisions? An analysis of Texas’s wholesale electricity market. Journal of Regulatory Economics, 58, 99-140.
Cao, K.H., Woo, C.K., Li, N., & Liu, Y. (2020). Covid-19’s Effect on the Alpha and Beta of a US Stock Exchange Traded Fund (doi: Applied Economics Letters, retrieved from, online publication, 1-6.
Woo, C.K., Liu, Y., Cao, K.H., & Zarnikau, J. (2020). Can Hong Kong price-manage its public transportation’s ridership?. Case Studies on Transport Policy, 8, 1191-1200.
Woo, C.K., Zarnikau, J., & Cao, K.H. (2020). Unintended biases of an electricity demand forecast based on a double-log regression. The Electricity Journal, 33 (106866), 1-4.
Brown, D.P., Tsai, C.H., Woo, C.K., Zarnikau, J., & Zhu, S. (2020). Residential electricity pricing in Texas's competitive retail market. Energy Economics, 92 (1049553), 1-17.
Brown, D.P., Zarnikau, J., Adib, P., Tsai, C.H., & Woo, C.K. (2020). Rising market concentration in Texas’s retail electricity market. The Electricity Journal, 33 (106848), 1-6.
Cao, K.H., Li, Q.Q., Liu, Y., & Woo, C.K. (2020). Covid-19’s adverse effects on a stock market index. Applied Economics Letters, online, 1-5.
Woo, C.K., Cao, K.H., Liu, Y., & Li, Q.Q. (2020). Estimated Benefits of Incremental Suppression of Covid-19 Spread. Open Access Library Journal, 7 (e6645), 1-13.
Woo, C.K., Zarnikau, J., Tsai, C.H., & Zhu, L. (2020). Cost-effectiveness of a modest expansion of renewable generation capacity in Texas. The Electricity Journal, 33 (106696), 1-5.
Zarnikau, J., Tsai, C.H., & Woo, C.K. (2020). Determinants of the wholesale prices of energy and ancillary services in the U.S. Midcontinent electricity market. Energy, 195(117051), 1-12.
Zarnikau, J., Zhu, S., Woo, C.K., & Tsai, C.H. (2020). Texas's operating reserve demand curve's generation investment incentive. Energy Policy, 137 (111143), 1-8.
Chiu, M.M., Woo, C.K., Shiu, A., Liu, Y., & Luo, X. (2020). Reducing costly free-rider effects via OASIS. International Journal of Comparative Education and Development, 22 (1), 30-48.
Woo, C.K., & Zarnikau, J. (2019). A nice electricity market design. The Electricity Journal, 32(9), 1-7.
Woo, C.K., Milstein, I., Tishler, A., & Zarnikau, J. (2019). A wholesale electricity market design sans missing money and price manipulation. Energy Policy, 134 (110988), 1-11.
Woo, C.K., & Zarnikau, J. (2019). Renewable energy’s vanishing premium in Texas’s retail electricity pricing plans. Energy Policy, 132, 764-770.
Chait, M., Horii, M., Orans, R., & Woo, C.K. (2019). What should a small load serving entity use to hedge its procurement cost risk?. The Electricity Journal, 142, 11-14.
Gal, N., Milstein, I., Tishler, A., & Woo, C.K. (2019). Investment in electricity capacity under fuel cost uncertainty: Dual-fuel and a mix of single-fuel technologies. Energy Policy, 126, 518-532.
Zarnikau, J., Woo, C.K., Zhu, S.S., Baldick, R., Tsai, C.H., & Meng, J.W. (2019). Electricity market prices for day-ahead ancillary services and energy: Texas. Journal of Energy Markets, 12(1), 43-74.
Zarnikau, J., Woo, C.K., Zhu, S., & Tsai, C.H. (2019). Market price behavior of wholesale electricity products: Texas. Energy Policy, 125, 418-428.
Woo, C.K., Cao, K.H., Cheng, Y.S., Shiu, A., & Li, R. (2018). Econometric Analysis of Monthly Peak-Hour and Total Usage Patterns of Hong Kong’s Cross-Harbor Tunnels. Transportation Research Record, 2672(5), 1-11.
Woo, C.K., Shiu, A., Chiu, M.M., & Liu, Y. (2018). Empirics of an online assessment system for individual scores (OASIS). Asian Journal of Education Research, 6(2), 16-42.
Woo, C.K., Chen, Y., Zarnikau, J., Olson, A., Moore, J., & Ho, T. (2018). Carbon trading’s impact on California’s real-time electricity market prices. Energy, 159, 579-587.
Woo, C.K., Liu, Y., Zarnikau, J., Shiu, A., Luo, X., & Kahrl, F. (2018). Price elasticities of retail energy demands in the United States: New evidence from a panel of monthly data for 2001 – 2016. Applied Energy, 222, 460-474.
Woo, C.K., Zarnikau, J., Chen, Y., Olson, A., Moore, J., Ho, T., Liu, Y., & Luo, X. (2018). An empirical analysis of California's hybrid capacity options. The Electricity Journal, 31(2), 7-12.
Woo, C.K., Shiu, A., Liu, Y., Luo, X., & Zarnikau, J. (2018). Consumption effects of an electricity decarbonization policy: Hong Kong. Energy, 144, 887-902.
Cao, K.H., Cheng, Y.S., & Woo, C.K. (2017). Price-management of traffic congestion: Hong Kong’s Lion Rock Tunnel. Case Studies on Transport Policy, 5(4), 699-706.
Woo, C.K., Liu, Y., Luo, X., Shiu, A., & Zarnikau, J. (2017). Consumption effects of electricity decarbonization: Evidence from California and the Pacific Northwest. The Electricity Journal, 30 (10), 44-49.
Woo, C.K., Olson, A., Chen, Y., Moore, J., Schlag, N., Ong, A., Ho, T. (2017). Does California's CO2 price affect wholesale electricity prices in the Western U.S.A.?. Energy Policy, 110, 9-19.
Cheng, Y.S., Cao, K.H., Woo, C.K., Yatchew, A. (2017). Residential willingness to pay for deep decarbonization of electricity supply: Contingent valuation evidence from Hong Kong. Energy Policy, 109, 218-227.
Woo, C.K., Chen, Y., Olson, A., Moore, J., Schlag, N., Ong, A., Ho, T. (2017). Electricity price behavior and carbon trading: New evidence from California. Applied Energy, 204, 531-543.
Woo, C.K., Zarnikau, J., Shiu, A., & Li, R. (2017). Winter Residential Optional Dynamic Pricing: British Columbia, Canada. The Energy Journal, 38 (5), 99-111.
Liu, Y., & Woo, C.K. (2017). California's renewable generation and pumped hydro storage's profitability. The Electricity Journal, 30(3), 15-22.
Woo, C.K., & J. Zarnikau (2017). A solar rate option for the development of behind-the-meter photovoltaic systems. The Electricity Journal, 30(3), 1-3.
Liu, Y., Woo, C.K., & Zarnikau, J. (2017). Wind generation's effect on the ex post variable profit of compressed air energy storage: Evidence from Texas. Journal of Energy Storage, 9, 25-39.
Gal, N., Milstein, I., Tishler, A., & Woo, C.K. (2017). Fuel cost uncertainty, capacity investment and price in a competitive electricity market. Energy Economics, 61, 233-240.
Zarnikau, J., Woo, C.K., & Zhu, S.S. (2016). Zonal merit-order effects of wind generation development on day-ahead and real-time electricity market prices in Texas. Journal of Energy Markets, 9(4), 17-47.
Woo, C.K., Zarnikau, J., Li, R., & Shiu, A. (2016). kWh Effects of Residential Optional Dynamic Pricing: Winter Evidence from British Columbia, Canada. The Electricity Journal, 29(9), 44-47.
Olson, A., Woo, C.K., Schlag, N., & Ong, A. (2016). What happens in California does not always stay in California: The effect of California’s cap-and-trade program on wholesale electricity prices in the Western Interconnection. The Electricity Journal, 29 (7), 18-22.
Sreedharan, P., Farbes, J., Cutter, E., Woo, C.K., & Wang, J. (2016). Microgrid and renewable generation integration: University of California, San Diego. Applied Energy, 169, 709-720.
Woo, C.K., Moore, J., Schneiderman, B., Ho, T., Olson, A., Alagappan, L., Chawla, K., Toyama, N., & Zarnikau, J. (2016). Merit-order effects of renewable energy and price divergence in California's day-ahead and real-time electricity markets. Energy Policy, 92, 299-312.
Liu, Y., Woo, C.K., & Zarnikau, J. (2016). Ex post payoffs of a tolling agreement for natural gas-fired generation in Texas. Journal of Energy Markets, 9(1), 21-45.
Shiu, A., Li, R., & Woo, C.K. (2016). Economic Growth and Infrastructure Investments in Energy and Transportation: A Causality Interpretation of China’s Western Development Strategy. The Energy Journal, 37(SI1), 211-222.
Woo CK, Cheng YS, Li R, Shiu A, Ho ST, Horowitz I (2015). Can Hong Kong price-manage its cross-harbor-tunnel congestion?. Transportation Research Part A: Policy and Practice, 82, 94-109.
Woo, C.K., Moore, J., Schneiderman, B., Olson, A., Jones, R., Ho, T., Toyama, N., & Wang, J. (2015). Merit-Order Effects of Day-Ahead Wind Generation Forecast in the Hydro-Rich Pacific Northwest. Electricity Journal, 28(9), 52-62.

Conference Papers
Woo, C.K. (2018, April). Consumption Effects of an Electricity Decarbonization Policy: Hong Kong. Paper presented at Smart Technology and Energy Strategy for Hong Kong’s Electricity Supply Industry Towards 2033, Hong Kong.


Performance-based Regulation of Mass Transit Railway’s Reliability Performance (港鐵可靠性的績效監管)
To inform a future policy debate on MTR’s reliability performance, the project estimates the economic cost of MTR customers due to travel delays during a service disruption. Using statistical modeling of telephone responses to a contingent valuation survey by ~1,500 respondents, our proposed estimation aims to precisely quantify MTR customers’ willingness to pay (WTP) for avoiding a service disruption. Using these WTP estimates, the project calculates annual aggregate customer costs (HK$M per ye . . .
Project Start Year: 2020, Principal Investigator(s): WOO, Chi Keung 胡志強
Estimation of Electricity and Transportation Demand
To solve real-world problems in electricity and transportation, this project uses parsimonious regression systems to document the limited effectiveness of price-management of demand because of the low price elasticity estimates for (a) retail energy demands in North America and Hong Kong; and (b) tunnel usage patterns in Hong Kong.
Project Start Year: 2019, Principal Investigator(s): WOO, Chi Keung 胡志強
A New Process to Fairly Score Individual Contributions to a Team Project
We develop a new, fair, relatively easy to implement, low-cost and generalizable process to score individual contributions to a team project – an innovative solution to the common problem of free riding faced by teachers in higher education.
Project Start Year: 2018, Principal Investigator(s): WOO, Chi Keung 胡志強
Energy Policy
Energy policy initiatives can have a significant impact on electricity market prices. Recognizing the information needs of private companies and government agencies, Prof Woo has been working with researchers in Hong Kong, Canada, Israel and the U.S. to address the following substantive policy questions: • What are the price effects of energy policy programs on wholesale electricity prices in California and other states in the Western Interconnection (WI) of the U.S.? • Do these price effects . . .
Project Start Year: 2018, Principal Investigator(s): WOO, Chi Keung 胡志強
Price Elasticities of Electricity and Gas Demands by End-use Customer Class in Hong Kong
This project estimates Hong Kong's price elasticities of demand for electricity and gas for three end-use customer classes: residential, commercial and industrial. It uses the estimates thus obtained to address public policy questions in connection to Hong Kong's elecricity future in the next 30 years.
Project Start Year: 2016, Principal Investigator(s): WOO, Chi Keung 胡志強
Price Responsiveness of Electricity and Natural Gas Demands by Customer Class in the US
To inform the global efforts in deep decarbonization, this project uses publicly available data to estimate the price responsiveness of the demands for electricity and natural gas by customer class. When completed, the price responsiveness estimates to address questions related to the energy future of the U.S. and other parts of the world.
Project Start Year: 2015, Principal Investigator(s): WOO, Chi Keung 胡志強