Academy of Finland
Funding decision
Name Svento, Rauli
Organisation OY
Project title
Regulation and dynamic pricing for energy systems
Decision No. 288957
Decision date 05.06.2015
Funding period 01.09.2015 - 31.08.2018
Funding 204 038
WebFOCUS Report
Project description
The objective of this project is to understand how future flexible energy system changes the requirement for regulation, pricing rules on the market models and how the value is created. First we derive optimal pricing structure and required market models such that the flexibility of the system is efficiently maximized. This is done by modeling the energy system as a two-sided market and finding out the fundamentals behind the distributed energy system. This includes maximization of joint economic, environment and social targets. Next we integrate our theoretical distributed market model into the empirical Nord Pool power market model in order to perform policy analysis and impact assessments of the dynamic market models. The underlying simulation model is going to be structured so that it includes all parts of the ecosystem. Third we derive a dynamic regulation framework and regulation model to make the transition to a flexible and efficient future energy system possible.