This episode covers what motivated the piece and how the vulnerabilities exposed in 2022 persist as we enter another energy shock. It also discusses the marginal pricing of electricity that most people now know about and how the same logic applies to gas, the seven or eight months of 2022 when NBP detached from TTF by as much as 70%, why that happened a…
The Steady State Audio Notes
Audio Notes: The 2022 Energy Crisis: Fixing Everything but the Price
Audio Notes: The 2022 Energy Crisis: Fixing Everything but the Price
For seven months of 2022, British gas traded substantially below European prices. We took no lessons from it.
The Steady State Audio Notes
Companion commentary to each piece in The Steady State, a publication on prices, power, and the institutional design of modern economies. Author's notes on what inspired each piece, where the argument is going, and what didn't fit in the written form.
Companion commentary to each piece in The Steady State, a publication on prices, power, and the institutional design of modern economies. Author's notes on what inspired each piece, where the argument is going, and what didn't fit in the written form.Listen on
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