The Future of Power Markets in a Low Marginal Cost World (Workshop)

On September 14, 2017, academics, policymakers, representatives of Independent Systems Operators (ISO)/Regional Transmission Organizations (RTO) and other stakeholders engaged in a discussion of the future of electricity markets over the next two decades, with an emphasis on the potential for high penetrations of zero and low marginal cost power generation, and various options for organizing wholesale electricity transactions in the face of rapid technological change.

The workshop focused on:

• Reviewing the state of play in the electricity sector today and how technology, policy, and the economics of electricity supply have evolved in recent years and are driving future change in the sector
• Identifying challenges that may occur in a possible future with an abundance of low or zero marginal cost electricity resources
• Characterizing modifications to electricity markets that might be necessary in the real world to support a reliable and cost-effective electricity system in the face of these challenges
• Revisiting the role of cost of service regulation in the electricity sector and challenges it faces from low and zero marginal cost resources
• Analyzing the implications of technology and wholesale market changes for retail electricity markets