On July 7-10, PESD Director Frank Wolak delivered two, two-day electricity market workshops in Santiago, Chile with Juan Ricardo Inostroza and Ignacio Alarcón Arias from Cursos Estratégia Mercado Eléctrico (Me³).

The workshops delved into electricity market design topics particularly relevant to Latin American countries including administrative cost-based versus offer-based markets, day-ahead and real-time markets, fixed-price and fixed-quantity forward financial contracts, economic consequences of intermittent renewable generation, and single versus multi-settlement markets.

More than fifty energy professionals from across Chile had the opportunity to put their understanding of these concepts to the test in PESD’s Energy Market Game, where they refined their strategies in different simulated markets.

Participants also completed PESD’s suite of e-learning modules before the workshops, enabling all to come to workshops with a shared understanding of market concepts that allowed them to gain deeper understanding of concepts taught during the workshop sessions.

PESD is excited about the success of this partnership with Me³ and is eager to continue partnering with educators around the world to increase understanding of electricity market design concepts by market participants, energy industry regulators, system operators and energy ministry staff. 

Frank Wolak, Juan Ricardo Inostroza, and Ignacio Alarcón Arias