Abstract
Decarbonization of the Danish electricity sector has recently been sought
achieved through the introduction of a novel retail electricity market, named
EcoGrid, designed to create price responsive consumers. By following the
market design process undertaken by engineers at the Technical University of
Denmark, the analysis addresses the question: how do engineers make
markets? The answer to this question as presented here is: engineers design
control systems. By tracing the origins of EcoGrid, this paper documents the
governing of electricity consumers through a ‘synthetic market’, i.e. a market
artifact devised to attain specified objectives within a specific task
environment. It is shown that EcoGrid has been designed by modelling a retail
electricity market on three different concepts from control systems engineering.
These findings are used as a springboard to discuss the implications of
introducing synthetic markets as means of governance.
achieved through the introduction of a novel retail electricity market, named
EcoGrid, designed to create price responsive consumers. By following the
market design process undertaken by engineers at the Technical University of
Denmark, the analysis addresses the question: how do engineers make
markets? The answer to this question as presented here is: engineers design
control systems. By tracing the origins of EcoGrid, this paper documents the
governing of electricity consumers through a ‘synthetic market’, i.e. a market
artifact devised to attain specified objectives within a specific task
environment. It is shown that EcoGrid has been designed by modelling a retail
electricity market on three different concepts from control systems engineering.
These findings are used as a springboard to discuss the implications of
introducing synthetic markets as means of governance.
| Original language | English |
|---|---|
| Publication date | 2016 |
| Number of pages | 29 |
| Publication status | Published - 2016 |
| Event | The 6th Latin American and European Meeting on Organizational Studies. LAEMOS 2016 - Vina del Mar, Chile Duration: 6 Apr 2016 → 9 Apr 2016 Conference number: 6 http://www.egosnet.org/laemos_2016 |
Conference
| Conference | The 6th Latin American and European Meeting on Organizational Studies. LAEMOS 2016 |
|---|---|
| Number | 6 |
| Country/Territory | Chile |
| City | Vina del Mar |
| Period | 06/04/2016 → 09/04/2016 |
| Internet address |