Open markets for electricity in Europe and the US are approaching the age of 30. Their diversity, be it at the wholesale or the retail level, has never reduced significantly and no common model ever emerged on both sides of the Atlantic Ocean. Nor it did anywhere else. Today, we are still confronted with several serious stars in the US, such as PJM and Texas, and in Europe, such as the UK and the Nordics. On the top, we should not forget Australia. Surprisingly, only the EU has made, since 2016, a very serious effort of harmonization of market and network rules.
This webinar, jointly organized by the IAEE and the Florence School of Regulation (FSR), represents an opportunity to review all the fundamentals needed to have the electricity markets working; and to assess all the key options among which companies, authorities, or the political economy can choose as a first, a second or a third best… always for a “good reason.”
This fascinating debate, always half rational and half self-interested, has restarted to boil since a few years due the spectacular growth of renewables, demand response, storage, and so on and so forth. As the new Handbook on Electricity Markets, recently edited by Jean-Michel Glachant, Paul Joskow and Michael Pollitt, explores in depth.