Step 1

Heat the olive oil in a large wide pot over medium-high heat. Add the onion and bell pepper and cook, stirring occasionally, until tender, about 5 minutes. Add the garlic and cook, stirring, until softened, about 30 seconds. Add the potatoes and stir to coat. Add the chicken broth, bay leaves, 3/4 teaspoon salt, the saffron and red pepper flakes. Bring to a boil, then reduce the heat to maintain a steady simmer. Cover the pot and cook until the potatoes are mostly tender, 8 to 10 minutes.

Step 2

Season the cod with salt, then add to the pot; submerge about halfway in the broth, with the top of the fish exposed. Cover and simmer until the fish is cooked through, 8 to 10 minutes. Carefully remove with a spatula and transfer to shallow bowls.

Step 3

Gently stir the lemon juice into the pot; season with salt and more red pepper flakes. Spoon the vegetables and broth over the fish, sprinkle with the parsley and serve with the lemon wedges.