Electricity markets worldwide are undergoing a many-decade transition in the way electricity is generated and consumed. The success of this transition depends critically on climate policy and market design. The authors of the paper presented in this Virtual Market Design Seminar model PJM — perhaps the largest and most advanced electricity market in the world — to evaluate the impact of alternative policies on electricity market outcomes over the next 40 years, including costs, profits, social welfare, risks, and reliability. Each year, investors decide which resources enter and exitgiven forward-looking consistent expectations about energy rents, prices and costs.
The seminar series is jointly organized by ZEW, the University Paris 2 Panthéon-Assas, the Karlsruhe Institute of Technology (KIT), and the Universities of Bonn and Mannheim. Additional information on the Virtual MD Seminar Series.
If you would like to participate and to stay up to date about upcoming presentations, please join our mailing list. You will receive the Zoom link for each talk.
The seminar presentations are scheduled to last 60 minutes: 45 minutes of presentation and 15 minutes for both comments and questions.
We will experiment with various methods for questions: A moderator collects questions during the presentation. Speakers will be encouraged to pause every few slides to allow a gap for questions. The moderator will relay clarification questions or unmute selectively during the talk. Remaining questions will be collected and asked in the discussion period.
Just like with other initiated virtual seminars, these rules are subject to change as we gain experience with how to handle the seminar most efficiently.
The Virtual Market Design Seminar is an open online alternative to seminars cancelled due to the COVID-19. Seminars will cover all fields from market design. The seminar presentations are scheduled to last 60 minutes, after 45 minutes of presentation, 15 minutes are for both comments and question.