Prize-winning research will develop the energy markets of the future

Priyanka Shinde, a researcher who recently completed her doctoral degree at the Division of Electric Power and Energy Systems, has been awarded the "European Energy Exchange Excellence Award" for her research work. The research focuses on developing capacity calculation methods, specifically flow-based and available transfer capacity, to facilitate the integration of electricity trading across borders and maximize social welfare while incorporating renewable energy sources into the energy system.

Shinde aims to create an open-source agent-based model that simulates and studies the daily behavior and interaction of market actors in the continuous cross-border electricity market. This model serves as a valuable tool for policymakers, regulators, and economists to improve intraday market design and address important policy design issues.

The recognition from the European Energy Exchange Group highlights the significance of the research in studying the evolving energy landscape and addressing crucial energy market questions. Shinde emphasizes the need for a holistic approach to combat climate change and the importance of developing energy markets tailored to specific regions' requirements.

The open-source models developed in this research will offer transparency and can be customized for different regions, considering their unique characteristics related to production, consumption, and grid infrastructure. The goal is to provide general frameworks that assist market participants in making optimal decisions that benefit both individual actors and society as a whole. This includes removing market entry barriers for smaller actors and facilitating coordination between various resources to achieve decarbonization goals.

Shinde is optimistic about reaching decarbonization goals and foresees changes in the roles of different actors in the energy market, including the emergence of new actors like energy storage. The recognition and award are seen as an honor and validation of the research work, which aimed to push boundaries and contribute to the energy transition.