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Energy markets differ from markets for ordinary products, and often they are applied in environments where energy was considered a public service, rather than a commercial product. In effect, energy markets need to be able to deliver both from a technical point of view, where planning and central control have a long record of reliability, and from an economic point of view, where although political or other interventions have distorted planning, prices have remained at relatively low levels for a part of final consumers.

For us, an energy market is not an end in itself, but rather an instrument to achieve clear objectives that relate to the benefit of final consumers and economies. Through our work in developing energy markets we aim to ensure that the consumer is not forgotten or sacrificed at the altar of fancy models, or of copies of markets that may have succeeded in other social and economic environments. We employ economics, but we remember that economics is about the activity of real people, and that models rely on assumptions; so we focus a lot on the background and the underlying structure. In effect, we are pragmatic and simple, rather than “original” and incomprehensible.

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