
<p>Electrifying nearly everything is necessary as the world transitions to net zero carbon emissions. Electricity demand will double with rapid innovation in supply and demand. As the share of intermittent renewables, primarily solar and wind, grows and extreme weather events become more frequent, balancing supply and demand every second becomes more challenging. Restructured wholesale markets provide real-time balancing. The market determines clearing prices that balance supply and demand, motivating operations to maximize social welfare.</p><p>Prices vary by time and place. Electricity prices, typically about $40 per megawatt-hour, may be negative when renewable production is high and thousands of dollars during extreme weather. Participants attempt to manage this risk with forward trade, but several market failures limit risk management and undermine efficient investment. Electricity markets have struggled with these challenges for decades.</p><p>Our market platform addresses the cr