Sustainability database

Research

Optimal prediction in local electricity markets

Optimal prediction in local electricity markets

Stochastic modelling of local energy markets. Focus on modelling the community scale, in order to achieve the maximum welfare benefit from the design of these markets.

http://gow.epsrc.ac.uk/NGBOViewGrant.aspx?GrantRef=EP/K00557X/1

Budget: 
£569,611.00
Project date: 
Friday, February 1, 2013 to Tuesday, January 31, 2017

Connections

Person

Dr John Moriarty

The current focus of our group is the application of probability theory at the interface between mathematical finance and power systems engineering. From 2013 to 2017 I have an EPSRC Early Career Research Fellowship titled Optimal prediction in local electricity markets focusing on the pricing and hedging of risk in electricity demand, for better balancing of future power systems.

Keywords: 
Mathematics, Applied research, Energy planning, Risk, Power system, Electric and electronics, Energy supply, Economy, Sustainability, Energy networks, Networks