Electric Market Enthusiasm, pt. 3: Professor Frank Wolak on Market Design and an Energy Market Game
professor Frank Wolak took the time to talk about electric market design, explain his concept for standardized fixed price forward contracts, and pitch his energy market game
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Show Notes
Professor Frank Wolak, the Holbrook Working Professor of Commodity Price Studies in the Department of Economics at Stanford University who also works as the Director of the Program on Energy and Sustainable Development, joins Paul Dockery for the third installation of our Electric Market Enthusiasm series.
04:13 - my lede for Professor Wolak’s working paper
Wolak, Frank A. "Long-term resource adequacy in wholesale electricity markets with significant intermittent renewables." Environmental and Energy Policy and the Economy 3.1 (2022): 155-220.
10:22 - the Reliability Externality and it’s relation to the Missing Money problem
16:48 - suspending exports in scarcity events
20:27 - Standardized Fixed Price Forward Contract market auctions
34:50 - the Energy Market Game
48:28 - The Future of Electricity Retailing and How We Get There
52:43 - developing market depth on the demand side
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