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Benjamin Hobbs

Benjamin Hobbs

Professor Benjamin F. Hobbs, Schad Professor of Environmental Management at Johns Hopkins University specializing in electricity market design and power systems economics.

Jun 24, 2026

0:55
What topic is most intriguing to
0:57
you? So in the, let's see, I've been working in this industry since 1974.
1:05
And a lot has changed in that half century, but some things haven't.
1:10
So I'm going to talk about something that has changed and hasn't changed.
1:14
So when Fred Schweppe, who was a professor at MIT, electrical engineer, conceptualized in the late 70s the idea of coordinating consumer decisions and generator decisions with locational marginal prices.
1:29
So using security-constrained unit commitment and dispatch and looking at the marginal costs and then settling transactions based on that.
1:40
That was a revolution.

24 MINS LATER

25:43
I think, Ben, you've done some thinking on this, obviously, for a long time, maybe.

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