Electricity Markets

Efficient operation of electricity markets is essential for the development of society. Integration of large amounts of renewable intermittent energy sources brings new challenges on the operation of power systems and design of electricity markets.

Research on electricity markets covers a large range of topics and application areas. Recent research addresses challenges resulting from integration of renewable energy sources, operation and planning under uncertainty, electricity market design and energy forecasting as well as new trends like demand response, multi-energy system operation and electric vehicle fleet management.

We perform theoretical research and numerical analysis using tools from optimization theory, game theory, econometrics, machine learning, pattern recognition, etc. Our results attempt to optimize the allocation of assets in power systems and facilitate the integration of renewable resources.

Keywords: Operation planning, transmission and distribution system planning, electricity market design, energy forecasting, electricity price forecasting, renewable energy sources integration, demand response, energy storage allocation, regulation