Electricity Markets
Research into the development of electricity markets
The aim of our research in the area of "electricity markets" (EM) is to make academically and practically relevant analyses available for a wide variety of issues in relation to the German, European and international electricity market. To this end, technological and economic aspects are being combined in order to enable an extensive analysis of these markets.
Our research work is currently focusing on the following aspects:
We mainly use mathematical optimization models to answer the research questions arising from these aspects. The European Electricity Market Model (ELMOD) and the European Electricity Transshipment Market Model (ELTRAMOD) are two models that are being developed in the Sub-Department of Energy Management.
ELMOD is a European energy market model that provides a representation of both power plants and the transmission network (DC load flow approach). The model has been developed with a view to investigating various issues in relation to investment decisions, bottlenecks in the transmission network and market design, focusing on Germany and Continental Europe. ELMOD is a bottom-up energy market model: the target function is welfare maximization, taking technological and ecological restrictions into account. The model represents the electricity market with an hourly resolution, taking into account fluctuations in demand, feed-in of wind energy, power plant use, journey costs, pump storage and other details.
ELTRAMOD is a bottom-up electricity market model that comprises the electricity markets of the 27 EU Member States, Norway, Switzerland and the entire Balkan region and takes the net transfer capacities (NTC) between these countries into account. Each country is regarded as a nodal point in the model, with country-specific, hourly time series for demand and feed-in of renewable energies being taken into account. The country-specific and technology-specific parameters as well as the temporal resolution of 8760 hours allow a detailed analysis of the numerous challenges that the future European electricity market will bring. This makes it possible, for example, to analyze interdependencies between network expansion and investments in energy storage systems within Europe.
Members: David Gunkel, Hannes Hobbie, Dominik Möst, Theresa Müller, Alexander von Selasinsky, Michael Zipf