| KEYWORD |
Analysis of market power in Italian electricity markets based on data analytics
Reference persons TAO HUANG
Description Market power is the ability of a company to increase the market price above a certain level for some period. The execution of the market power is profitable to some companies in sacrifices of market efficiency and benefits of other participants. Therefore, regulators need to have proper tools and methods to monitor such behaviours to guarantee a fair and efficient market.
As a fundamental and critical product, electricity is evitably decisive for the achievement of the smart society, especially at the economic level. The electricity market is the way to guarantee affordable and secure electricity to all the end-users. Even though it is important, the tools the policy decision-makers have to quantify the market power is quite limited in reality. Most of them resort to static indices, such as market shares, market concentration factors, etc. Therefore, the results cannot refect the execution of market power but only quantify the potential of the market participants.
In this thesis, we are going to design a framework to monitor the market power of the Italian electricity markets based on big data and data analytics. Market behavioural analysis via historical data using machine learning techniques will be used to set a baseline pattern and construct identifiers for regulators to monitor the electricity market power in (quasi) real-time. Traditional methods from microeconomics will be also employed as well to benchmark the analysis.
The candidate should have the knowledge of database, familiar with spark based on Hadoop architecture for Big data analysis, appropriate machine learning algorithms for predictions, pattern recognition, as well as Pthyon, SQL, Matlab, etc.
Deadline 05/03/2021
PROPONI LA TUA CANDIDATURA