Market Design

The Brattle Group has unparalleled experience analyzing and designing wholesale electricity markets. We support clients around the globe with their most challenging market design issues.

Our clients include system operators, regulators, policymakers, and market participants. In North America, we have played a role in nearly all major market design initiatives over the past several years. Internationally, we support clients throughout Europe, Asia, and Australia.

Much of our recent work focuses on new market design challenges posed by growth in renewable generation and carbon reduction goals. We design market-based ways to achieve clean energy goals. We work with ISOs to better enable both capacity markets and energy-only markets to support resource adequacy and operational reliability in traditional and low-carbon systems. We also assist clients in efforts to enhance the flexibility of the system through improved design of energy and ancillary service markets, through geographic expansion of regional transmission organizations and coordination with neighbors, through more effective utilization of flexible resources such as energy storage, and through improved integration of demand response and distributed generation.

Areas of Expertise

Principals
Chang for web
Principal
+1.617.864.7900
Judy Chang is an energy economist and policy expert with a background in electrical engineering. She has 20 years of experience in advising clients in transmission, resource, and strategic planning. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Garcia 084
Principal
+34.91.048.71.00
Dr. García advises clients on competition, regulation, and restructuring policy in the energy, banking, telecommunications, and food supply industries. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Harris 129
Principal
(Rome) +39.06.48.888.146
(London) +44.20.3829.2340
Mr. Harris has more than fifteen years of experience as expert in valuation, quantification of damages, and the economics of gas and electricity markets. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Hesmondhalgh 086
Principal
Dr. Hesmondhalgh has worked as a consultant in the energy sector for more than 20 years, predominantly in the electricity and gas sectors. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Marin 083
Principal
+34.91.048.71.13
+44.74.4790.7048
Dr. Pedro L. Marín is an economic expert on regulation and competition in various sectors, particularly energy, telecommunications, and transportation, and in valuation and microeconomics. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Newell 090
Principal
+1.617.864.7900
Dr. Newell is an expert in electricity wholesale markets, the transmission system, and RTO rules. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Pfeifenberger 034 edited
Principal
Mr. Pfeifenberger is an economist with a background in electrical engineering and over twenty-five years of experience in the areas of regulatory economics and finance. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Shavel 087
Principal
+1.202.955.5050
Dr. Shavel is an energy economist specializing in the economics and operations of the U.S. electric power system, generation and transmission investment, and environmental strategy. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Spees 13a
Principal
+1.617.864.7900
Dr. Kathleen Spees has expertise in wholesale electricity and environmental policy design and analysis. More icon f02782c24cccaf6d90e1da53920c42f20e5a8955f54ac2ca5727ec7dc89987b4
Presentation
A Dynamic Clean Energy Market in New England
November 2017
Prepared by The Brattle Group and Coalition Partners (Conservation Law Foundation, Brookfield Renewable, NextEra Energy Resources, National Grid, and Robert Stoddard)
Presentation
Flexibility Enhancements: Alberta Needs and Experience from Other Jurisdictions
August 15, 2017
Prepared for Alberta Electricity System Operator
Report
Pricing Carbon into NYISO’s Wholesale Energy Market to Support New York’s Decarbonization Goals
August 10, 2017
Prepared for the New York Independent System Operator (NYISO)

The study, prepared for the New York Independent System Operator (NYISO), finds that adding a carbon charge into the wholesale energy market could improve the state’s ability to meet its decarbonization goals cost-effectively.

Presentation
Advancing Past “Baseload” to a Flexible Grid: How Grid Planners and Power Markets Are Better Defining System Needs to Achieve a Cost-Effective and Reliable Supply Mix
July 28, 2017
Presented to the Senate Energy & Natural Resources Committee
Article
How Wholesale Power Markets and State Environmental Policies Can Work Together
July 10, 2017
Published in Utility Dive
Report
June 26, 2017
Prepared for the Natural Resources Defense Council (NRDC)

The report examines why traditional “baseload” power plants, such as coal and nuclear, are becoming less economical, why their ability to produce power continuously is less essential in today’s supply mix, and why operational flexibility is an increasingly important ingredient for a cost-effective supply of electricity.

Article
Do Manufacturing Firms Relocate in Response to Rising Electric Rates?
June 2017
Published in Energy Regulation Quarterly, Volume 5, Issue 2

This article investigates whether U.S. industrial manufacturing customers faced with rising electric rates relocate to lower-cost regions.

Article
Reforming Ontario’s Wholesale Electricity Market: The Costs and Benefits
June 2017
Published in Energy Regulation Quarterly, Volume 5, Issue 2

This article provides a review of a recent report authored by Brattle economists examining the net benefit that Ontario could realize through implementation of a locational energy market, improving the system’s operating flexibility, and the introduction of an incremental capacity auction for maintaining resource adequacy.

Report
Comments of Dr. Samuel Newell to the Federal Energy Regulatory Commission Regarding State Policies and Wholesale Markets Operated by ISO New England Inc., New York Independent System Operator, Inc., and PJM Interconnection, L.L.C.
May 2, 2017
Prepared for the FERC Technical Conference

Dr. Newell's comments describe how wholesale power markets and state policies can work together to achieve decarbonization objectives and reliability objectives at a low cost.

Presentation
November 3, 2016
Presented at Law Seminars International's (LSI) 18th Annual Conference on Electric Power in California
Report
September 1, 2016
Prepared for the Public Utilities Office of the Government of Western Australia’s Department of Finance

The report evaluates mechanisms for mitigating market power in the reformed wholesale energy market scheduled for July 2017 implementation in Western Australia’s South West Interconnect System.

Report
July 12, 2016
Prepared for the California Independent System Operator. Co-authored by members of The California Independent System Operator, Energy and Environmental Economics, Inc., Berkeley Economic Advising and Research, LLC, and Aspen Environmental Group.
Presentation
The Future of Wholesale Electricity Market Design with the Growth of Low-Carbon Generation
June 8, 2016
Presented at the Energy Bar Association's (EBA) 2016 Annual Meeting & Conference
Article
May 5, 2016
Sent to the U.S. Government Accountability Office (GAO)
Report
Benefits of the Southwest Intertie Project-North (SWIP North)
March 31, 2016
Prepared for Great Basin Transmission, LLC
Report
Western Australia's Transition to a Competitive Capacity Auction
January 29, 2016
Kathleen Spees, Samuel A. Newell, and Colin A. McIntyre
Prepared for EnerNoc
Report
Cost-Benefit Analysis of ERCOT’s Future Ancillary Services (FAS) Proposal
December 21, 2015
Prepared for the Electric Reliability Council of Texas (ERCOT)
Presentation
PJM Capacity Auction Results and Market Fundamentals
September 18, 2015
Prepared for the Bloomberg Analyst Briefing
Report
Lake Erie Connector Market Assessment Report
May 2015
Prepared for ITC Lake Erie Connector LLC
Report
Stakeholder-Driven Scenario Development for the ERCOT 2014 Long-Term System Assessment
September 30, 2014
Prepared for ERCOT
Report
Cost of New Entry Estimates for Combustion Turbine and Combined Cycle Plants in PJM
May 15, 2014
Samuel A. Newell, Michael Hagerty, Kathleen Spees, Johannes P. Pfeifenberger, Quincy Liao, Christopher D. Ungate, and John Wroble
Prepared for PJM Interconnection, L.L.C.
Report
Third Triennial Review of PJM’s Variable Resource Requirement Curve
May 15, 2014
Johannes P. Pfeifenberger, Samuel A. Newell, Kathleen Spees, Ann Murray, and Ioanna Karkatsouli
Prepared for PJM Interconnection, L.L.C.
Report
Estimating the Economically Optimal Reserve Margin in ERCOT
January 31, 2014
Samuel A. Newell, Kathleen Spees, Johannes P. Pfeifenberger, Ioanna Karkatsouli, Nick Wintermantel, and Kevin Carden
Prepared for The Public Utility Commission of Texas
Report
Developing a Market Vision for MISO - Supporting a Reliable and Efficient Electricity System in the Midcontinent
January 27, 2014
Prepared for the Midcontinent Independent System Operator, Inc. (MISO)
Article
Capacity Markets — Lessons Learned from the First Decade
September 2013
Published in Economics of Energy & Environmental Policy, Vol. 2, No. 2
Report
Potential Implications of the AUC TCM Decision (2013-135) on the Alberta Electricity Market’s Economic Efficiency
May 2013
Johannes P. Pfeifenberger, Judy Chang, and Michael DeLucia
Prepared for Alberta Electric System Operator
Report
Evaluation of Market Fundamentals and Challenges to Long-Term System Adequacy in Alberta’s Electricity Market: 2013 Update
March 2013
Prepared for the Alberta Electric System Operator