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Climate Change

Future Power Markets Forum Launches Public Resources on Electricity Market Structure and Design

Washington D.C., September 10, 2020 – Today the Future Power Markets Forum launched a public website on electricity market structure and design: powermarkets.org. The site includes commentary from experts on issues that the industry is expected to face in the next 15 years, in addition to a library of research related to power market design. 

Future Power Markets Forum began work in May 2020 to answer the question: What should power markets look like in the future with a high penetration of low variable cost resources? Through a review of recent research and discussion among front-lines practitioners, technical experts, and regulators, the Forum highlights proposals for efficient, reliable wholesale power market design for a low-carbon electricity system. The Forum does not address topics tied to pending regulatory cases.

The project is led by Mr. David Hill and the Honorable Cheryl LaFleur, both of the Columbia University SIPA Center on Global Energy Policy, Dr. Benjamin Hobbs, of the Johns Hopkins University Department of Environmental Health and Engineering, and Mr. Rob Gramlich of Grid Strategies. Participants include RTOs and ISOs, generation companies, electricity customers, utilities, think tanks and nonprofits. The full list of sponsors and advisors is available at powermarkets.org/sponsors.

“Today, changes in the power sector present tremendous opportunity for new business models, new financing solutions, and new technologies to achieve a decarbonized energy future,” said Jason Bordoff, Professor of Practice in International Affairs and Founding Director of the Center on Global Energy Policy at Columbia SIPA. “The Future Power Markets Forum will help build an understanding of how we can structure and design power markets in the future that are efficient, reliable, low-cost and low-carbon, led by experts like David, Cheryl, Ben and Rob, and we’re proud that the Center on Global Energy Policy is a thought partner on this important project.”

“The need to mitigate the climate and health impacts of emissions of all types, including carbon dioxide and fine particulate matter, from power production is a crucial issue facing the planet,” said Peter Winch, Professor of International Health and Co-Chair of the Johns Hopkins Sustainability Leadership Council. “If we seek to obtain the full environmental and economic benefits of the coming wave of solar, wind, and other renewable energy, we must give careful thought to implementing effective market incentives for motivating efficiency in decisions about where, when, and what kind of carbon-free resources are built and operated.  This Forum provides a new avenue for the top experts in the field to work together on addressing those market design issues head on.” 

Future Power Markets Forum will continue to collect expert commentary and build on the research library. The live topics are resource mix analysis, central procurement structures and decentralized market structure and design. Upcoming topics include markets to support short-term system operations under high renewable generation, a comparison of integrated resource planning and market-based solutions for decarbonization, demand-side participation in energy markets, and others.

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