The transformation of the European energy system and efforts towards a single European electricity market are drivers of a changing energy system. The rapidly increasing share of intermittent feed-in from renewable energy sources, the decline of conventional power plants and new types of consumers and storage facilities are influencing events on the wholesale and control reserve markets, for example with regard to power plant inputs, exchanges and market prices. In addition, the intention of coupling energy sectors will result in new influences and mutual dependencies. Challenges in that context include the integration of decentralised plants and the adequacy of regulatory and economic incentives to ensure an efficient energy supply.
The research group Energy Markets focuses on modelling, simulating and evaluating the European energy system, focusing on energy markets. Here, economic and business evaluations are relevant. In business studies, portfolio revenues on different electricity markets can be optimised. A central element of economic studies is the deterministic or stochastic simulation and evaluation of centralised European bidding zones, coupled via NTC or flow-based market coupling. The feed-in of centralised and decentralised renewable, conventional and sector-coupled power generation plants and new, conventional and flexible consumers are determined in detail. The consideration of technical restrictions is also of particular importance. This includes, in addition to flexibility, the spatial distribution of plants and the implications of resulting transmission or distribution grid congestions on market outcomes. Results of the analyses can be market prices, welfare assessments or power plant deployments, which in turn can also be used for subsequent economic assessments or grid analyses.
Key research topics
- Economic and business evaluation of unit commitment and market results
- (Flow-based) simulation of the European electricity market
- Feed-in simulation and unit commitment for centralised and decentralised plants considering technical restrictions as well as decentralised, innovative, sector-coupling and flexible systems and consumers
- Assessment of regulatory and economic incentives for the integration of (decentralised) units and steps towards a single European electricity market