Electricity Economics and Digital Transition
Launched in 2018, this Chair, supported by the AFI (Association pour la Formation dans l'Industrie), is entirely devoted to two of the most important and stimulating topics facing the energy industry today: electricity and digitalization. The electricity sector has undergone many changes since the beginning of its market liberalisation. We are seeing intense developments and new trends in terms of transmission (transmission and distribution) and generation in a carbon-constrained world.
The Chair and its associated research and training activities will provide a better understanding and analysis of these new trends and developments.
The aim of the Chair is to address not only the electricity sector and related issues, but also the techno-economic impact of digitalization trends in the electricity industry. Large-scale data, real-time information, artificial intelligence and machine learning methods are increasingly an integral part of future electrical systems.
Teaching, research and outreach: the 3 objectives of the Chair
The EETD Chair operates in three main areas:
The Chair aims to promote the teaching of digitalization, economics and electricity management at IFP School. In doing so, the Chair will seek to stimulate the interest of our graduate students in research on the economics of power systems and digital transitions.
In terms of research, the Chair's ambition is two-fold: on the one hand, to catalyze the development of research in the fields of digitalization, economics and power management, and on the other hand, to establish a dialogue between industry and the School with the aim of directing research activities in this field towards the most prominent topics.
The Chair strives to make research results known through publications, the organization of conferences and participation in scientific associations.
Dr Arash Farnoosh, Supervisor of the Executive Master of Management in Energy, taught in partnership with the BI Norwegian Business School.
The steering committee of the EETD Chair is composed of the following members:
- IFP School: Dr. Christine Travers, Dr. Maxime Schenckery, Dr. Arash Farnoosh
- IFP Energies nouvelles: Dr. François Kalaydjian
It also relies on external scientific advisors: Dr. Ramteen Sioshansi (Ohio State Univ., USA), Dr. Albert Banal-Estanol (Univ. Barcelona, Spain; Univ. of London, UK), Dr. Alain Haurie (Univ. of Geneva, Switzerland; HEC Montréal, Canada).
From research areas to concrete achievements...
In terms of teaching at the School, the work of the Chair has already allowed to:
- create a teaching unit "Digitalization in electricity sector" for the Petroleum Economics and Management (PEM) and Energy and Markets (ENM) programs, in May 2019;
- integrate case studies on the economics and optimization of electricity networks in the teaching units related to the technico-economics of the electricity sector, within the ETEM and ENM programs and the EEET research-oriented master's degree, since September 2018.
A doctoral thesis on the analysis of the economic and technical challenges associated with the integration of renewable energies into electricity grids, in partnership with the Economix laboratory at the University of Paris Nanterre, began in January 2019.
The PhD candidate is Pierre Cayet, who is under the co-direction of Dr. Arash Farnoosh and Dr. Lionel Ragot, a researcher at the Economix laboratory, holder of the Economic Transitions
Chair and scientific advisor to the CEPII (Centre d'Études Prospectives et d'Informations Internationales).
The thesis work focuses on the economic stakes associated with the integration of renewable energies (ENR) into the network. These lead to an interest in the collective surplus associated with this integration and its distribution among the different actors involved, network, producers, distributors and consumers of electricity. They thus concern the impact of the modes of integration and management of intermittent RE on the determination of electricity prices in the market.
In parallel of this thesis work, in the second half of 2019, we welcomed Professor Peter Cowling (Univ. of York, UK), a specialist in optimization and algorithms, as a "Visiting Researcher". The aim of this collaboration was to develop courses and research work in decision sciences and mathematical programming applied to the energy sector.
Publications in journals such as ENERGY, Energy Policy, Sustainability:
- GIS-Based Multi-Objective Particle Swarm Optimization of charging stations for electric vehicles (ENERGY, Zhang, Farnoosh, Chen & Li), January 2019
- Analyzing the Dynamic Impact of Electricity Futures on Revenue and Risk of Renewable Energy in China (Energy Policy, Farnoosh & Zhang), May 2019
- Projections and Recommendations for Energy Structure and Industrial Structure Development in China through 2030: A System Dynamics Model (Sustainability, Farnoosh, Song et al.), September 2019
- Market Induced Carbon Leakage in China's Certified Emission Reduction Projects (Journal "Mitigation and Adaptation Strategies for Global Change", Springer, Farnoosh & Huiying), November 2019
- Weather forecast methodologies for long-term modeling of renewable electricity generation (Journal of Forecasting, Cayet, Farnoosh et al.), under review.
Highlights of the Chair are also listed in the « Handbook of International Energy Economics », in the Chapter entitled « Economics of Power Generation » (Palgrave Macmillan; under review).
IFP School also organizes conferences within the scope of the Chair:
- Assessing the possible future of Paris Agreement “a meta-modeling approach” (February 2019)
Prof. Alain Haurie (Univ. of Geneva, Switzerland; Univ. of Montréal, Canada)
Dr. Marc Vielle (École Polytechnique Fédérale de Lausanne, Switzerland)
- The transformation of the electricity sector and the role of intelligent distributed generation & storage (May 2019)
Dr. Fereidoon P. Sioshansi (CEO of Menlo Energy Economics and editor of EEnergy Informer Journal, USA).
Finally, some papers are shared/presented at conferences organized by:
- the International Association of Energy Economists (IAEE), Canada, June 2019
- the European Association of Energy Economists (EAEE), Slovenia, August 2019
- the Johns Hopkins Center - Workshop on « Electricity in Europe », Nanjing – China, November 2019.
- Organization of conferences and workshops;
- New papers and articles presented at international conferences;
- Development of training modules and projects regarding electricity and digitalization dedicated to our Master programs…
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