Markets are a central platform in the way energy systems are operated, while they are expected to provide the right signals for investment. With the significant penetration of renewable energy generation and the rapid changes in the sector brought by electric vehicles, home automation, storage, new control paradigms, etc, the traditional vision of energy markets is challenged.
We may indeed need to substantially rethink the design and operation of such markets to better value energy, services, capacity, with their contribution to system reliability and security of supply. As the energy transition may require increased awareness and commitment of final electricity consumers, the markets should also evolve to incentivize and reward higher flexibility in energy consumption, either to better synchronize with the availability of renewable energy generation, or for investment in asset making consumption more flexible by nature e.g. with residential storage.
Our research there concentrates on proposal radically new market designs for a future with fully renewable energy systems and a central role of consumers. Such market designs are to accommodate uncertainty and variability on both production and consumption side, also rewarding flexibility and support to system operation to ensure reliable operation of the energy system. These are also to evolve towards truly consumer-centric energy market, allowing prosumers to readily exchange with each other, or to organize in energy cooperatives. In parallel, emphasis is placed on resilience and how it may be accounted for in markets, in order to yield anti-fragile multi-energy systems.
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