Current students

Electricity spot markets are marketplaces where electricity is exchanged between electricity producers and retailers in near real time. In practice, there are three main types of markets: Day-Ahead Markets (DAM), Intra-Day Markets (IDM), and Balancing Markets (BM).

In DAM, electricity is exchanged between production units and retailers the day before delivery and consumption.

In IDM, both producers and retailers can change their position within the day of delivery, given production and consumption forecast updates, by either increasing or decreasing offered/purchased quantity.

Finally, in BM, producers offer services to the network operator (TSO) such as injection increase, decrease, switch-on, or switch-off for the real-time balancing of injection and withdrawal, necessary for network integrity.

The increasing penetration of renewables challenges the way these markets were originally designed. Increasing uncertainty in production profiles, non-programmable character of renewable plants, and hybrid injection/withdrawal units (such as batteries) call for extensive studies on the potential evolution of market regulations.

The objective of the research is to extract knowledge from raw market data (hourly-level offers and demand bids from different producers/retailers) using statistical methods.