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Christoph Graf
Senior economist and research scholar at NYU's Institute for Policy Integrity focusing on energy and climate policy, electricity market design, and power sector reform.
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Nov 24, 2025
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How capacity markets broke—and what it takes to fix them
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Christoph Graf, a Senior Economist at NYU's Institute for Policy Integrity, dives into the crisis surrounding capacity markets. He explores the effects of rising auction prices in PJM and questions if these markets can adapt to modern demands like data center growth and decarbonization efforts. Graf contrasts existing reliability models, suggests strategies to enhance grid performance, and advocates for innovations spurred by high prices. With a focus on practical steps for utilities, his insights shed light on balancing affordability and reliability in an evolving energy landscape.
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