Projects

Job Market Paper

Who benefits from the energy transition? Market power and flexibility in retail electricity markets
with Elise Viadere (ULB)

Abstract: The energy transition widens intraday spot price spreads — the difference between the most and least expensive hours of the day — raising the value of consumers' flexibility. We study a monopolist retailer offering contracts to consumers with heterogeneous, privately known intraday flexibility. In equilibrium, the retailer screens consumers through the contracts' price spread, and extracts surplus through the price level. Only the most flexible face the full spot price spread and consume efficiently; less flexible consumers face compressed price spreads. This distortion increases with the share of flexible consumers. The retailer captures most flexibility gains; low-flexibility consumers retain none.

Work in progress

Vertical arrangements and market power with real-time pricing: Evidence from the Spanish electricity markets

Electricity market architecture, contracts and real-time price exposure of large industrial consumers
with Estelle Cantillon (ULB, CEPR)

Policy work

La transition énergétique en Belgique: Etat des lieux
with Estelle Cantillon, in Cantillon, E., S. Brunet, J. Eyckmans, A. Gautier, M. Muûls, F. Venmans (eds), Réussir la transition vers une économie zéro carbone, November 2023, Editions de l'Université Ouverte

Study on cost pass-through in energy retail markets
with Estelle Cantillon, Stefan Lamp, Mar Reguant, Isabelle Méjean, Mattia Nardotto and Elise Viadere, for the European Commission – DG ENER