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Challenges in stochastic equilibrium modeling for energy markets

I will present a stochastic multi-fuel energy market model considering uncertainty on different time horizons and a gas market model which considers risk aversion (CVAR). I will discuss mathematical formulations, present some results and highlight challenges concerning data sets, calibration and numerical stability of the PATH solver.

Type of Seminar:
IfA Seminar
Prof. Ruud Egging
Norwegian University of Science and Technology
Sep 10, 2015   14:15

Contact Person:

John Lygeros
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Biographical Sketch:
Rudolf Gerardus ("Ruud") Egging is an Associate Professor in Managerial Economics at the Department of Industrial Economics and Technology Management of the Norwegian University of Science and Technology in Trondheim. He has a part-time position with the Applied Economics and Operations Research group of research institute SINTEF in Trondheim and is a research affiliate with the German Institute for Economic Research (DIW Berlin).

He holds a master’s degree in Business Econometrics from the Free University in Amsterdam (1997) and a PhD in Civil and Environmental Engineering from the University of Maryland, College Park, USA (2010).

Previously, he has worked as an operations research consultant with ORTEC (The Netherlands) and as a scientific researcher at the Energy Research Center of the Netherlands. His main research and publication area is energy markets and infrastructure, with a topical focus on natural gas markets and the liquefied natural gas supply chain and a functional focus on stochastic and risk modeling.

The energy-related projects he has worked concern topics like: Natural gas supply security (EC Framework Progr. 5), Biofuel supply chains (EC FP 5), Evaluation of the Natural Gas Market Module of the DOE’s National Energy Modeling System (Resources For the Future, Washington DC), Regional Energy Policy and Effects (Norw. Res. Council), Strategic planning under uncertainty in the global LNG markets (N.R.C), Energy-efficiency & risk management in public buildings (EC FP 7), Biomass supply chains (EC FP 7).