Adapting to the uncertainties and risks of climate change: Advanced methods and models for energy systems and markets
The aim of the project is to develop new mathematical models and computational methods that help the private and public sector to adapt energy systems and markets to high uncertainties and risks derived from climate change. To achieve this goal, the research addresses three research objectives:
(1) Model and classify the different types of uncertainties and risks associated with climate change;
(2) Develop energy planning models in conditions of uncertainty due to climate change; and
(3) Design new market models and energy regulation with risk-averse agents. The project aims to combine operations research techniques, climate models and financial economics to develop an integrated approach to the problem.