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Renewable sources of energy are the future due to the environmental problems caused by non-renewable sources to produce energy. The biggest issue with renewable energy sources is that the power produced by devices such as PV solar panels…
Electricity markets are changing, driven by large-scale renewable integration and rising demand from electrification and digitalisation. This raises fundamental questions about how electricity prices form as the relationships among key…
Our paper aims to model and forecast the electricity price by taking a completely new perspective on the data. It will be the first approach which is able to combine the insights of market structure models with extensive and modern…
As the European countries strive to meet their ambitious climate goals, renewable hydrogen has emerged to aid in decarbonizing energy-intensive sectors and support the overall energy transition. To ensure that hydrogen production aligns…
Future greenhouse gas neutral energy systems will be dominated by renewable energy technologies providing variable supply subject to uncertain weather conditions. For this setting, we propose an algorithm for capacity expansion planning: We…
Electricity is traded on various markets with different time horizons and regulations. Short-term intraday trading becomes increasingly important due to the higher penetration of renewables. In Germany, the intraday electricity price…
In our paper we analyze the relationship between the day-ahead electricity price of the Energy Exchange Austria (EXAA) and other day-ahead electricity prices in Europe. We focus on markets, which settle their prices after the EXAA, which…
Integrating renewable energy production into the electricity grid is an important policy goal to address climate change. However, such an integration faces economic and technological challenges. As power generation by renewable sources…
The energy transition is expected to significantly increase the share of renewable energy sources whose production is intermittent in the electricity mix. Apart from key benefits, this development has the major drawback of generating a…
Renewable energies are deployed worldwide to mitigate climate change and push power systems towards sustainability. However, the weather-dependent nature of renewable energy sources often hinders their integration to national grids.…
As the European countries strive to meet their ambitious climate goals, renewable hydrogen has emerged to aid in decarbonizing energy-intensive sectors and support the overall energy transition. To ensure that hydrogen production aligns…
Analysing dependent risks is an important task for insurance companies. A dependency is reflected in the fact that information about one random variable provides information about the likely distribution of values of another random…
This work studies synergies arising from combining industrial demand response and local renewable electricity supply. To this end, we optimize the design of a local electricity generation and storage system with an integrated demand…
In the transition toward a sustainable power system, renewable-based Virtual Power Plants (RVPPs) have emerged as a promising solution to the challenges of integrating renewable energy sources into electricity markets. Their viability,…
In Europe, Germany is taking the lead in the switch from the conventional to renewable energy. This poses new challenges as wind and solar energy are fundamentally intermittent, weather-dependent and less predictable. It is therefore of…
Due to globalization and relaxed market regulation, we have assisted to an increasing of extremal dependence in international markets. As a consequence, several measures of tail dependence have been stated in literature in recent years,…
The participation of consumers and producers in demand response programs has increased in smart grids, which reduces investment and operation costs of power systems. Also, with the advent of renewable energy sources, the electricity market…
The high temporal variability of wind power generation represents a major challenge for the realization of a sustainable energy supply. Large backup and storage facilities are necessary to secure the supply in periods of low renewable…
Weather, technological and regulatory uncertainties expose actors in highly renewable electricity markets to substantial price and volume risks. Two-way Contracts for Difference (CfDs) can mitigate these risks. They stipulate payments…
There is an increasing interest to understand the dependence structure of a random vector not only in the center of its distribution but also in the tails. Extreme-value theory tackles the problem of modelling the joint tail of a…