Tech@Lunch - How to benefit from the electricity market as a consumer: opportunities for industrial partners

The topic of the second Tech@Lunch session of 2023 is "How to benefit from the electricity market as a consumer: opportunities for industrial partners". With the current pricing and remuneration mechanisms in the electricity market, the skyrocketing and highly volatile natural gas prices led to unprecedently high electricity bills which will eventually jeopardize the financial situation and therefore the competitiveness of industrial companies. Inexorably, the increasing renewable energy penetration (including residential solar panels) and the trend of electrification in almost all sectors will blur the boundary between suppliers and consumers. In accommodating the transition, challenges on security of supply, system resilience, and market liquidity have to be addressed, which calls for both technical upgrade and economic mechanism reform in the power electric system. This transition creates new opportunities for the manufacturing industrial partners to be actively involved in the electricity market and trade in their flexibility in various time frames.

During this presentation, underpinned by an introduction to the electricity market design transition, Zhenmin Tao will elaborate quantitatively on how and why small & medium enterprises (SMEs) can profit from actively participating in the electricity market. After the presentation, it should be clear that partnering with Flanders Make in a new research project to discover your potential benefit is promising.