Methods for Energy Market Analysis
The transformation towards climate neutrality leads to rapid evolvements in energy markets. In addition, emerging technologies induce a much higher degree of market integration. Hence, to address contemporary research questions with regard to energy market design, market models are required that account for these more complex aspects. The research focus in “Methods for Energy Market Analysis” is on the development of respective (multilevel) market equilibrium models. Moreover, mathematical theory and solution methods for these models are derived in order to enable an economic analysis of energy markets.
Group members
| Head of research area | ||
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| Dr. Julia Grübel | ||
| Research associates | ||
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| Martin Loy | ||
| Student assistants | ||
| Dennis Strempler | ||
News
t.b.a.
Publications
2022
- Ambrosius, M., Egerer, J., Grimm, V., & van der Weijde, A.H. (2022). Risk aversion in multilevel electricity market models with different congestion pricing regimes. Energy Economics, 105, 105701. https://dx.doi.org/10.1016/j.eneco.2021.105701
- Boettger, T., Grimm, V., Kleinert, T., & Schmidt, M. (2022). The cost of decoupling trade and transport in the European entry-exit gas market with linear physics modeling. European Journal of Operational Research, 297(3), 1095-1111. https://dx.doi.org/10.1016/j.ejor.2021.06.034
- Egerer, J., Grimm, V., Grübel, J., & Zöttl, G. (2022). Long-run market equilibria in coupled energy sectors: A study of uniqueness. European Journal of Operational Research, 303(3), 1335-1354. https://dx.doi.org/10.1016/j.ejor.2022.03.028
- Grübel, J., Huber, O., Hümbs, L., Klimm, M., Schmidt, M., & Schwartz, A. (2022). Nonconvex equilibrium models for energy markets: exploiting price information to determine the existence of an equilibrium. Optimization Methods & Software. https://dx.doi.org/10.1080/10556788.2022.2117358
- Grübel, J., Krug, R., Schmidt, M., & Wollner, W. (2022). A Successive Linear Relaxation Method for MINLPs with Multivariate Lipschitz Continuous Nonlinearities with Applications to Bilevel Optimization and Gas Transport.
2021
- Egerer, J., Grimm, V., Kleinert, T., Schmidt, M., & Zöttl, G. (2021). The Impact of Neighboring Markets on Renewable Locations, Transmission Expansion, and Generation Investment. European Journal of Operational Research, 292(2), 696 - 713. https://dx.doi.org/10.1016/j.ejor.2020.10.055
- Grimm, V., Hintermüller, M., Huber, O., Schewe, L., Schmidt, M., & Zöttl, G. (2021). A PDE-Constrained Generalized Nash Equilibrium Approach for Modeling Gas Markets with Transport.
- Grimm, V., Nowak, D., Schewe, L., Schmidt, M., Schwartz, A., & Zöttl, G. (2021). A tractable multi-leader multi-follower peak-load-pricing model with strategic interaction. Mathematical Programming. https://dx.doi.org/10.1007/s10107-021-01708-0
- Kleinert, T., Grimm, V., & Schmidt, M. (2021). Outer Approximation for Global Optimization of Mixed-Integer Quadratic Bilevel Problems. Mathematical Programming. https://dx.doi.org/10.1007/s10107-020-01601-2
2020
- Ambrosius, M., Egerer, J., Grimm, V., & van der Weijde, A.H. (2020). Uncertain bidding zone configurations: The role of expectations for transmission and generation capacity expansion. European Journal of Operational Research, 285(1), 343 - 359. https://dx.doi.org/10.1016/j.ejor.2020.01.024
- Ambrosius, M., Grimm, V., Kleinert, T., Liers, F., Schmidt, M., & Zöttl, G. (2020). Endogenous Price Zones and Investment Incentives in Electricity Markets: An Application of Multilevel Optimization with Graph Partitioning. Energy Economics. https://dx.doi.org/10.1016/j.eneco.2020.104879
- Grimm, V., Orlinskaya, G., Schewe, L., Schmidt, M., & Zöttl, G. (2020). Optimal design of retailer-prosumer electricity tariffs using bilevel optimization. Omega-International Journal of Management Science. https://dx.doi.org/10.1016/j.omega.2020.102327
- Grimm, V., Grübel, J., Rückel, B., Sölch, C., & Zöttl, G. (2020). Storage investment and network expansion in distribution networks: The impact of regulatory frameworks. Applied Energy, 262. https://dx.doi.org/10.1016/j.apenergy.2019.114017
- Grübel, J., Kleinert, T., Krebs, V., Orlinskaya, G., Schewe, L., Schmidt, M., & Thürauf, J. (2020). On Electricity Market Equilibria with Storages: Modeling, Uniqueness, and a Distributed ADMM. Computers & Operations Research, 114. https://dx.doi.org/10.1016/j.cor.2019.104783
2019
- Grimm, V., Kleinert, T., Liers, F., Schmidt, M., & Zöttl, G. (2019). Optimal price zones in electricity markets: a mixed-integer multilevel model and global solution approaches. Optimization Methods & Software, 34(2), 406-436. https://dx.doi.org/10.1080/10556788.2017.1401069
- Grimm, V., Schewe, L., Schmidt, M., & Zöttl, G. (2019). A multilevel model of the European entry-exit gas market. Mathematical Methods of Operations Research, 89(2), 223–255. https://dx.doi.org/10.1007/s00186-018-0647-z
- Grimm, V., Grübel, J., Schewe, L., Schmidt, M., & Zöttl, G. (2019). Nonconvex Equilibrium Models for Gas Market Analysis: Failure of Standard Techniques and Alternative Modeling Approaches. European Journal of Operational Research, 273(3), 1097-1108. https://dx.doi.org/10.1016/j.ejor.2018.09.016
2017
- Grimm, V., Schewe, L., Schmidt, M., & Zöttl, G. (2017). Uniqueness of market equilibrium on a network: A peak-load pricing approach. European Journal of Operational Research, 261(3), 971 - 983. https://dx.doi.org/10.1016/j.ejor.2017.03.036
2016
- Grimm, V., Martin, A., Schmidt, M., Weibelzahl, M., & Zöttl, G. (2016). Transmission and generation investment in electricity markets: The effect of market splitting and network fee regimes. European Journal of Operational Research, 254(2), 493-509. https://dx.doi.org/10.1016/j.ejor.2016.03.044