Towards an Effective Electrical Market Design: Identifying and Defining Key Criteria for Decision-Making

In our changing energy landscape, electricity is taking a major role in achieving decarbonization goals. Electricity can be a clean and efficient source of energy, and it is well-suited to help countries meet their climate goals. However, the electrical market is complex and constantly evolving, and it is important to carefully choose the design elements of the market to ensure that it is meeting its objectives. In this context, evaluating an electrical market's effectiveness requires a multifaceted approach that takes into account a range of elements, from environmental impact to economic viability. This paper provides an overview of several evaluation methods for different objectives to finally select the key criteria to consider in assisting decision-makers, regulators, and stakeholders in developing an electricity market that is not only effective but also reliable and sustainable.