1、Time for a Market Upgrade?A Review of Wholesale Electricity Market Designs for the FutureATime for a Market Upgrade?A Review of Wholesale Electricity Market Designs for the FutureChiara Lo Prete,Karen Palmer,and Molly RobertsonReport 24-09 June 2024Resources for the FutureiAbout the AuthorsChiara Lo

2、 Prete is Associate Professor of Energy Economics in the John and Willie Leone Family Department of Energy and Mineral Engineering at The Pennsylvania State University.Her research centers on the economics of energy markets,with a focus on the areas of competition and design of electricity markets,n

3、atural gas market design to enhance grid reliability,geopolitics and energy security,and the impacts of environmental regulations on electric power generation.Recent work has centered on the development of mathematical models and application of empirical methods to study electricity market structure

4、s for resource adequacy and wind energy integration,interdependent natural gas and electric power systems,the weaponization of electricity trade,emission leakage and cross-product manipulation.Karen Palmer is a senior fellow at Resources for the Future(RFF),director of the Electric Power Program,and

5、 an expert on the economics of environmental,climate and public utility regulation of the electric power sector.Her work seeks to improve the design of environmental and technology regulations in the sector and the development of new institutions to help guide the ongoing transition of the electrici

6、ty sector.To these ends,she explores climate policy design,analyzes efficient ways to promote use of renewable and other clean sources of electricity,and investigates new market designs,new approaches to electricity pricing and regulatory reforms to pave the way for long-term decarbonization of elec