When Bruce Springsteen decided to do a run of shows at a Broadway theater with fewer than a thousand seats, he appeared to reject the laws of economics — or at least what would seem to be in his financial best interest. He limited ticket prices to between $75 and $850 and has been allocating … More Surge pricing like a boss
Recently the Illinois Commerce Commission kicked off its “utility of the future” initiative, called NextGrid. This 18-month stakeholder study will gather ideas to map out a strategic direction for electricity in Illinois. I spoke on a panel at the kickoff event that focused on platforms and transactive energy; here’s a summary of the panel from … More Illinois NextGrid, platform economics, and a new working paper
Recently I spoke at the Surge Summit event of the Illinois Science & Engineering Innovation Foundation (ISEIF). ISEIF’s mission is customer education, awareness, and engagement as Illinois implements policies enabling a digital distribution grid and transactive energy. I am honored to serve as a peer reviewer on ISEIF’s Peer Review Committee. As a lead-up to … More Three little questions about behavioral energy economics and transactive energy
This article in the OECD Observer by Chris Pike provides a concise overview of some of the current issues and challenges that innovation is creating for existing business and regulatory models in electricity (and cites Kiesling & Munson 2016, thank you for that!). The main argument is that digital innovation is disrupting the traditional regulated retail … More OECD on competition and new electricity business models
Many of the prospects for a cleaner and prosperous future — autonomous vehicles, economical renewable energy, more efficient electronics — are made more likely and/or more affordable with improvements in energy storage. Tesla’s advances in the technology, form factor, and scale of production of lithium ion batteries are well known (and in fact I think … More How cool is this liquid battery?
At the fantastic economic history website EH.net, I recently reviewed John Neufeld’s new book, Selling Power: Economics, Policy, and Electric Utilities Before 1940. TL;DR: if you’re interested in the electricity industry you should read this book, even if you aren’t an academic. You’ll gain an important historical perspective on how we got to where we are, … More John Neufeld’s Selling Power: Economics, Policy, and Electric Utilities Before 1940
The electric power network is becoming increasingly digital. I started working on digital technology and smart grid topics in 2004, and served on the GridWise Architecture Council 2005-2009, focusing on enhancing understanding and use of interoperability principles in business and regulatory decisions. One of the important partners in expanding awareness of interoperability and its importance … More NIST Smart Grid Advisory Committee