NextENERGEIA
Financiado
Simulating the effects of low-carbon investments in electricity markets
NextENERGEIA plans to develop and test a proof-of-concept prototype of an analytical tool for simulating the social and private impact on power markets of low-carbon investments (renewable energies, energy storage, electric vehicl...
NextENERGEIA plans to develop and test a proof-of-concept prototype of an analytical tool for simulating the social and private impact on power markets of low-carbon investments (renewable energies, energy storage, electric vehicles, and hydrogen production). The tool would shed light on issues central to the energy transition’s success, making it precious for regulators, policymakers, energy-intensive consumers, and energy firms. In particular, the tool would be instrumental in informing the current policy debate on the electricity market reform. The tool would build on state-of-the-art game-theoretical models developed by the PI through her ERC Consolidator Grant ELECTRIC CHALLENGES, providing the basis to simulate firms’ competitive and strategic behavior in electricity markets with large shares of renewable energies and energy storage. Those models also serve to assess the low-carbon investments’ impact on several metrics reflecting electricity market outcomes (prices, market shares, emissions, etc.) and firms’ financial profitability (pay-back period, NPV, IRR, etc.) The algorithm would be programmed in Python, and an internet-based interface would be developed for ease of use. Data from the Spanish electricity market would be used to test the tool, which would be further extended to other European power markets. Relevant stakeholders in the sector have already shown their support and willingness to participate in the training and testing stages.
The team comprises the PI (Natalia Fabra), postdocs at EnergyEcoLab (the research lab she created under her ERC grant), and software programmers who would carry out the programming activities. The team combines a deep knowledge of the power sector and the energy transition policies, a deep understanding of the relevant economic questions, and a deep command of the methods for modeling and quantifying the performance of electricity markets.
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Duración del proyecto: 18 meses
Fecha Inicio: 2024-02-23
Fecha Fin: 2025-08-31
Fecha Fin: 2025-08-31
Línea de financiación: concedida
El organismo HORIZON EUROPE notifico la concesión del proyecto el día 2024-02-23
Línea de financiación objetivo
El proyecto se financió a través de la siguiente ayuda:
ERC-2023-POC:
ERC PROOF OF CONCEPT GRANTS
Cerrada
hace 1 año
Presupuesto
El presupuesto total del proyecto asciende a
150K€
Líder del proyecto
UNIVERSIDAD CARLOS III DE MADRID
No se ha especificado una descripción o un objeto social para esta compañía.
Total investigadores
1332
Total investigadores
1332