Related papers: What may future electricity markets look like?
The development of energy systems is not a technocratic process but equally shaped by societal and cultural forces. Key instruments in this process are model-based scenarios describing a future energy system. Applying the concept of…
We propose a research initiative to explore and evaluate end-user technology, infrastructure, business imperatives, and regulatory policy to support the privacy, dignity, and market power of individual persons in the context of the emerging…
In this review article we explore several recent advances in the quantitative modeling of financial markets. We begin with the Efficient Markets Hypothesis and describe how this controversial idea has stimulated a number of new directions…
A driving force for the realization of a sustainable energy supply is the integration of renewable energy resources. Due to their stochastic generation behaviour, energy utilities are confronted with a more complex operation of the…
This article suggests that the worldwide relevance of blockchain technology is motivated by the changes that it is expected to cause in: (i) the way that business is organised and (ii) regulated, as well as (iii) by the way that it changes…
Extreme events, exacerbated by climate change, pose significant risks to the energy system and its consumers. However there are natural limits to the degree of protection that can be delivered from a centralised market architecture.…
Over the past decade, crowdsourcing has emerged as a cheap and efficient method of obtaining solutions to simple tasks that are difficult for computers to solve but possible for humans. The popularity and promise of crowdsourcing markets…
Electricity markets differ in their ability to meet power imbalances in short notice in a controlled fashion. Relatively flexible markets have the ability to ramp up (or down) power flows across interties without compromising their ability…
The energy system is rapidly changing to accommodate the increasing number of renewable generators and the general transition towards a more sustainable future. Simultaneously, business models and market designs evolve, affecting power-grid…
In an electric power system, demand fluctuations may result in significant ancillary cost to suppliers. Furthermore, in the near future, deep penetration of volatile renewable electricity generation is expected to exacerbate the variability…
Prediction problems in finance go beyond estimating the unknown parameters of a model (e.g. of expected returns). This is because such a model would have to include parameters governing the market participants' propensity to change their…
Renewable power sources have low marginal pro-duction costs, but may result in high balancing costs due to the inherent production uncertainty. Current day-ahead markets elicit only point production profiles and neglect the degree of…
The increased digitalisation and monitoring of the energy system opens up numerous opportunities to decarbonise the energy system. Applications on low voltage, local networks, such as community energy markets and smart storage will…
Electricity markets currently fail to incorporate preferences of buyers, treating polluting and renewable energy sources as having equal social benefit under a system of uniform clearing prices. Meanwhile, renewable energy is prone to…
Energy efficiency is at the core of sustainability solutions for 5/6G networks. We argue this is a too narrow perspective on sustainability, as it ignores the effects of the increased traffic demand these networks stimulate and the need for…
Energy market designs with non-merchant storage have been proposed in recent years, with the aim of achieving optimal market integration of storage. In order to handle the time-linking constraints that are introduced in such markets,…
Although the specific structures of electricity markets are diverse around the world, they were all conceived on the premise of predictable, controllable generation with nonnegligible marginal costs. Recent changes, specifically, the…
The sharing economy has disrupted housing and transportation sectors. Homeowners can rent out their property when they are away on vacation, car owners can offer ride sharing services. These sharing economy business models are based on…
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…
In recent years environmental and energy conservation issues have taken the central theme in the global business arena. The reality of rising energy cost and their impact on international affairs coupled with the different kinds of…