Ari Peskoe talks with Bill Hogan, Professor of Global Energy Policy at the Harvard Kennedy School. After laying out fundamental principles of wholesale market design, Bill discusses the recent proposal filed by PJM about reforming price formation in its reserve market. Bill explains why the Federal Energy Regulatory Commission should find that prices in the market are currently unjust and unreasonable and how the proposed market redesign will result in a more efficient market. Bill and his colleague Susan Pope wrote a paper in support of PJM’s proposal https://sites.hks.harvard.edu/fs/whogan/Hogan_Pope_PJM_Report_032119.pdf.

Transcript available here https://eelp.law.harvard.edu/wp-content/uploads/2025/05/CleanLaw-18-Ari-Hogan-PJM.pdf