From Enron with love: imperfect competition and the boom bust cycleWebinar organised in the context of the online course The Regulation of the Power Sector and in cooperation with Jean Tirole’s Toulouse School of Economics.
Missed the webinar? Watch the recording:https://youtu.be/4JA-Uaz5FhM For a variety of structural reasons, the power industry is at high risk of exercise of market power by producers. Furthermore, accurately detecting and effectively correcting market power is technically and politically challenging. Policy makers have tried a variety of mechanisms, with varying success. This webinar will illustrate the potential (and real) exercise of market power, and discuss various corrective mechanisms. Thomas-Olivier Léautier is professor of management at the University of Toulouse, where he is responsible for the Master in Risk Management, and Research Director at Toulouse School of Economics. His research interests include restructuring of the electric power industry, and risk management strategy and operations. He has written academic articles on long-term incentives for investments in electric power generation and transmission, regulation of transmission companies, capacity mechanisms, the value of smart meters, demand response, and renewables subsidies.
Additional sources:– Quis custodiet ipsos custodies? Article by Thomas-Olivier Lautier and Claude Crampes
– The smartest guy in the room Documentary film on the so-called Enron scandal