Title:
Show me your forecasts, I'll show you mine! Are we moving towards energy data markets?
Abstract:
Integrating renewable power generation into power systems and electricity markets has revealed the need for advanced analytics in various forms, e.g. analysing large streams of data for dynamic community detection, renewable power forecasting from small to large setups, but also design of new market setups allowing to coordinate players in that complex energy system. I will argue that we are going towards a number of ICT-enabled disruptive ideas in the electric energy field, triggered by this renewable integration challenged, with inherent variability and uncertainty in throughput, latent dependencies in the weather fields, distributed setups, etc. Through the streams of data that we get today, can we then price uncertainty, as well as variability?
A number of mechanisms using proper scoring rules and for cost attributions will be discussed. In parallel, a number of interesting challenges in analytics and markets for demand response will be reviewed, also based on our practical experience with the island of Bornholm. Eventually, recent initiatives for the design and deployment of peer-to-peer electricity markets will be presented, covering both theoretical developments and practical experiments.
A peer-to-peer paradigm will allow to localize and "colour" electric energy exchanges (e.g., "I buy solar within 50kms of my house", "I buy from my cousin's farm in Brittany", etc.). In that context, why should we stop with peer-to-peer exchange of energy only and not start trading data? Motivations and expectations from energy data markets will close the talk.
Bio:
Presented by Pierre Pinson, Professor, Centre for Electric Power and Energy (CEE), Electrical Engineering, Technical University of Denmark.
Pierre Pinson is a Professor at the Centre for Electric Power and Energy (CEE) of the Technical university of Denmark (DTU, Dept. of Electrical Engineering), and also heads a group focusing on Energy Analytics & Markets. He holds a M.Sc. In Applied Mathematics from INSA Toulouse and a Ph.D. In Energy Engineering from Ecole de Mines de Paris (France). He acts (or has acted) as an Editor for the IEEE Transactions on Power Systems, the International Journal of Forecasting and Wind Energy. His main research interests are centered around the proposal and application of mathematical methods for electricity markets and power systems operations, including forecasting. He has published extensively in some of the leading journals in Meteorology, Power Systems Engineering, Statistics and Operations Research. He has been a visiting researcher at the University of Oxford (Mathematical Institute) and the University of Washington in Seattle (Dpt. of Statistics), as well as a scientist at the European Center for Medium-range Weather Forecasts (ECMWF, UK) and a visiting professor at Ecole Normale Superieure (Rennes, France). In 2019 he will be a Simons Fellow at the University of Cambridge, Isaac Newton Institute ("The mathematics of energy systems"). He is leading a number of initiatives aiming to profoundly rethink electricity markets for future renewable-based power systems and with a more proactive role of consumers. This focus on consumer-centric and community-driven electricity markets translates into proposals for peer-to-peer energy exchange, from mathematical framework to actual demonstration in Denmark.