IX Electricity Security Advisory Panel Workshop

Background

What is next for our electricity markets?

Towards a new Market and regulatory Framework

Today’s restructured electricity markets are based on economic principles developed more than two decades ago, allowing competition in the power sector with the objective of improving economic efficiency, shifting risks to investors and, in relevant emerging economies, to reduce the burden on the treasury. Since then, many markets have successfully followed a pragmatic and constant learning-by-doing process, resulting in innovations and changes that allow them to improve power system performance while deliver electricity in a secure and affordable manner.

Recently, however, a number of unprecedented developments are threatening to disrupt power systems around the world. These include the need to quickly and affordably decarbonise the economy, the introduction of new supply- and demand-side technologies, and expanded opportunities for consumer engagement. Taken together, these developments are forcing us to question whether existing power markets designs can be adapted to these changes or whether an entirely new approach is required.

In this context, the IEA is organizing this Electricity Security Advisory Panel workshop to take stock of lessons learned, to identify principles that should continue driving electricity market design, and to identify elements that will need to change in the coming years.

This invitation-only workshop is aimed at experts in electricity market design and senior electricity market participants and will help guide future IEA research on this topic.

Agenda and Presentations

08:30 Registration

09:15 Welcome and Opening Remarks

László VARRÓ, Chief Economist, IEA

09:30 WHERE ARE WE IN OUR WHOLESALE MARKETS?

Florian KÖNIG, Economic Adviser, Bnetza- Federal Network Agency, Germany
Tomas KABERGER, Executive Board Chairman, Renewable Energy Institute
Anna SHPITSBERG, Director Global Power, IHS Markit

10:40 LONG-TERM RESOURCE ADEQUACY WITH INTERMITTENT RENEWABLES

Frank WOLAK, Stanford University

11:30 UPDATING REGULATORY AND MARKET FRAMEWORKS TO NEW REALITIES

Jakub FIJALKOWSKI, Policy Officer – DG Energy, European Commission
Christoph RIECHMANN, Director, Energy Practice, Frontier Economics
Jeffrey HARDY, Senior Research Fellow, Grantham Institute, Imperial College London
C‌arlos BATLLE, Research Scholar, MIT and Associate Professor, Comillas University

14:00 WHAT DOES THE NEXT GENERATION OF WHOLESALE MARKET DESIGNs LOOK LIKE?

Michael HOGAN, Senior Adviser, Regulatory Assistance Project (RAP)
Pierre JEREMIE, Head, Electricity Markets Office, DGEC, France
Michael GRUBB‌, Professor of Energy and Climate Change, University College London
Fabien ROQUES, Executive Vice President, Energy Practice, Compass Lexecon

15:30: AUSTRALIA: TOWARDS A POST-2025 MARKET DESIGN