Coordinated decision-making policies for urban energy systems

These activities are centred around a novel research project with a leading scholar at Stockholm University that aims at demonstrating how coordinated decision-making policies between operators of district heating networks can be used for effective decarbonisation of urban energy systems. The specific tasks to be carried out will be carefully selected and conducted in close collaboration between the lead applicant at UCL and the partner at Stockholm University to ensure the development of high-quality work and impactful outcomes as well as to strengthen the relationship with the Stockholm-based partner, supporting a sustainable partnership and long-term collaboration.

The specific research activities focus on developing a novel “game-theoretic real options portfolio” approach to support decentralised decision-making policies favouring low-carbon urban energy systems and on an illustrative application to the Bunhill Heat and Power Network in London. Combining the complementary expertise within the team, this approach will internalise previously neglected coordinating mechanisms that reflect the reality of most deregulated industries, especially in the energy sector. This project builds upon the outcomes of three previous projects and can be expected to offer direct and indirect opportunities for student involvement.

Area

Statistical Science

UCL leads

• Dr Sebastian Maier, Department of Statistical Science