The TradeRES project focuses on designing and testing innovative electricity market structures to meet the demands of a society transitioning to a (near) 100% renewable energy system. This initiative aims to create a long-term, sustainable market design that fosters efficient operational and investment incentives for electricity systems heavily reliant on variable renewable energy sources, such as solar and wind.
A key feature of this project is its emphasis on integrating renewable energy systems with other sectors, including home heating, cooling, and transportation, while ensuring equitable participation for all demand groups—from households to industrial consumers. Central to this is maintaining the security of supply by leveraging controllable electricity generation capacity, all while avoiding excessive costs and limiting market risks for investors and consumers. By addressing these challenges, the project aims to stabilise energy prices, protect consumers from cost swings, and keep the cost of capital manageable for investors.
To achieve these goals, TradeRES is developing and testing a cutting-edge market design within a sophisticated simulation environment. This simulation incorporates real-world complexities, such as limited foresight, risk aversion, and stakeholder behaviour. The performance of this design will be evaluated using critical indicators such as supply security, cost efficiency for consumers, and investment recovery.
The project also emphasizes collaboration by engaging all key stakeholders, including consumers, large and small energy producers, network operators, and government representatives, throughout the design, optimisation, and evaluation process. This inclusive approach ensures the development of socially acceptable solutions and maximizes the potential impact of the research outcomes.
By addressing these pressing challenges, the TradeRES project is paving the way for efficient, reliable, and socially inclusive energy markets that support Europe’s renewable energy transition.
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