What keeps our lights on? Strategic interactions in the electricity market | with Peter Cramton

In this episode, we talk to Peter Cramton about the electricity market. We discuss the 2021 Texas electricity crisis that left millions of Texans without electricity for four extremely cold days. Peter explains how understanding the crisis is important for markets everywhere. He shares with us that a reliable gas supply is essential for resilient electricity and Europe must reduce its dependence on Russian gas. Peter Cramton is Professor of Economics at the University of Cologne and the University of Maryland. His research is focused on auctions and market design. Applications include communications, electricity, and financial markets. His innovative market designs are seen worldwide.