Electricity Markets, Stochastic Storage Optimization

Energy Markets

The energy industry has seen significant changes in recent years due to factors like liberalization, regulation, and the growth of renewable energy. Challenges such as market competition, sector consolidation, security of supply, renewable energy integration, and energy efficiency targets have emerged. These changes have major implications for energy companies and regulators, requiring further evolution of business models and organizational structures.

We use game-theoretic models to analyze the investment and production behavior on European electricity and gas markets. Furthermore, we use multi-stage stochastic programming methods to optimize the dispatch of pumped-storage energy units against exogenous electricity prices.