How does the price of electricity come about? (Part 1)

"We all have to deal with it: high prices for electricity and gas. As the price of gas has skyrocketed, the price of electricity has also risen sharply. But at the same time, there are still times when electricity is very cheap. How exactly does that work, and how does that electricity price actually come about?

This will be explained by Joost Greunsven, who will explain the functioning of the electricity market and the price mechanism, but will also discuss the roles of different parties in the system and the 'rules of the game' of the electricity market

We will also briefly consider whether this system is sustainable given the energy transition, or whether the market model will need to be adjusted."

Speaker:

Joost Greunsven Lead Market Analysis NL - Energy System Planning TenneT and TU Eindhoven

Speakers Bio

"After studying Electrical Engineering at TU Eindhoven, Joost worked for 4 years as a trainee and analyst at RWE/Essent. Since December 2016, as 'Electricity Market Developer' at TenneT, Joost was heavily involved in several projects focused on European market integration. Here, he was responsible for the development of European market rules and the elaboration of methodologies within market-related network codes. Joost was also twice project leader of the annual TenneT Annual Market Update and internal project leader of the ongoing Bidding Zone Review.

Currently, Joost is team leader of the Dutch team of TenneT's market analysis department. This team is responsible for building scenarios and carrying out studies such as security of supply monitoring, market calculations for the TenneT Investment Plan and the European Bidding Zone Review. In doing so, the team makes an important contribution for strategic decisions of TenneT and the Dutch government for the development of the energy system of the future."

Links:

Upcoming - A paradigm shift in the electricity market coupling: Flow-Based Plain

Documents