Keynote: Electricity Markets: Fast-Tracking Innovation in Energy Transition
summary
Global electricity must scale wind and PV about 4× 2020 levels this decade while half of required 2050 emissions cuts need new or improved technologies, not just deployment. Markets that pay for capacity with annual capacity payments fail: a 2014 polar vortex spikes demand 33% and ~22% of paid capacity is unavailable. Moving to nodal pricing in Texas reveals where generation actually reduces congestion. Batteries now earn arbitrage but should be paid for transmission deferral and fast ancillary services, and smart charging can cut peak demand by ~50% via vehicle-to-grid coordination.
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chapters (11)
- 0:00Introduction and welcome
- 1:03Energy sector perspective
- 3:53Changing power system dynamics
- 7:25Markets as optimization tools
- 10:15Market design pitfalls
- 12:04Geographical pricing in Texas
- 14:36System optimization challenges
- 16:42Regulatory framework importance
- 19:12Clean procurement and EVs
- 21:39Technology and policy integration
- 23:46Q&A and closing
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