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Energy Markets

Dr. Hans-Georg Zimmermann (Siemens, München)


Today's primary energy markets are high interrelated and can be understood as large interacting dynamical systems. As all markets they depend on the supply and demand side.

In the past the demand side was the uncertain part in this dynamics and one task in the optimization of the system was the forecast of the demand. With the upcoming renewable energy not only the demand but also the supply side has to be forecasted and the interaction has to be optimized.

Characteristics of energy markets are high dimensionality (because of the interaction of the different energy markets), nonlinearity (because of the decision making of traders) and different time scales of trading behavior and long term makro-economical effects. In this section we want to study techniques and models, that help to optimize energy markets.

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