III LAMPS/PUC-Rio Workshop on Market Design: The Introduction of Hourly Price in the Brazilian Power Sector
Last Tuesday, June 25th, LAMPS held its III Workshop on Market Design, this time online, with the virtual presence of over 600 participants.
Watch the whole event here, at the LAMPS channel on youtube. (It is worth mentioning that the presentations and the debate that followed are in Portuguese.)That evening, Alexandre Zucarato (Planning Director, ONS), Luiz Augusto Barroso (CEO, PSR-Consultoria), Marcelo Loureiro (Advisor, CCEE), and Alexandre Street (assistant professor at PUC-Rio and LAMPS coordinator) promoted a necessary and very productive debate on the hourly price and its impacts on the electricity market.
The introduction of the hourly price in the operation of the Brazilian electricity market is scheduled for January 2021. As Prof. Street highlights, this is a crucial discussion subject for the country right now. “The price formation process is the cornerstone in the design of any functional short-term market. The introduction of the hourly price will foster the creation of new products and impact all other segments, directly affecting the attractiveness of the sector and the incentives for the agents.”
The debate covered the subject in an applied manner, and the speakers discussed topics ranging from short-term operation and bid-based price formation to new contract formats and new business opportunities.
See you next time!