archimedes-Artificial Intelligence, Data Science, Algorithms-greece

 
Artificial Intelligence
 
Data Science
 
Algorithms

[Archimedes Talks] Welfare Benefits of Co-optimization of Energy and Reserves in Europe

Dates
2025-03-28 17:00 - 18:30
Venue
Artemidos 1 - Amphitheater
Title: Welfare Benefits of Co-optimization of Energy and Reserves in Europe
 
Speaker: Prof. Papavasiliou Antony (National Technical University of Athens, Greece)

Abstract: The joint scheduling of energy and reserves is an important step towards future-proof electricity market design dominated by the large-scale integration of renewable energy sources, where ancillary services are to gain increasing importance. The current European market design separates the procurement of reserve and energy in the day-ahead markets. This introduces inefficiencies, since both energy and reserve compete for finite generation capacity, and finite network capacity needs to be allocated for accommodating both energy trades as well as the potential activation of reserve. We develop a two-stage model that represents the status quo of European day-ahead market clearing followed by real-time market operation which is compared to a co-optimization benchmark. We further compare both setups to a regime of so-called market-based allocation of network capacity across European bidding zones, which is based on Article 41 of the European Commission Electricity Balancing Guideline. Market-based allocation maintains a separate clearing of energy and reserves in the day-ahead markets, and is the main contender to co-optimization in the European market design debate. These models are compared to each other on a realistic benchmark of the so-called Core region of Europe, which comprises the majority of Central Europe. Co-optimization is shown to yield substantial gains relative to the status quo, translating to € 955 million per year for the Core region, with market-based allocation reaping merely € 162 million of these potential efficiency gains. The results of the analysis provide a sound argument for advancing the implementation of co-optimization of energy and reserves in the European electricity market.
 
Short Biography
Anthony Papavasiliou is an assistant professor at the department of Electrical and Computer Engineering at the National Technical University of Athens. Formerly, he was an associate professor at the Center for Operations Research and Econometrics (CORE) at the Université catholique de Louvain, where he held the ENGIE Chair and a Francqui Research Professorship. He completed his PhD and post-doctoral research at the department of Industrial Engineering and Operations Research at UC Berkeley, working with Professor Shmuel Oren. He completed his undergraduate studies at the National Technical University of Athens, Greece, in the department of Electrical and Computer Engineering with a focus on electric power systems and power electronics.
In 2021 he received the Bodossaki Foundation Distinguished Young Scientist award in Applied Sciences. He is a recipient of an ERC Starting Grant under the 2019 funding cycle. He is currently serving as an associate editor for Operations Research and has served as an associate editor for the IEEE Transactions on Power Systems, Operations Research, as well as in the technical program committees of the Power Systems Computation Conference (2016, 2018, 2020), PowerTech (2019), the ACM Workshop on Energy Market Engineering (2018, 2019), and EnergyCon (2016). He has received the 2015 INFORMS best publication award in energy and the 2021 INFORMS best publication award in energy runner-up. He has served as a consultant for transmission system operators, regulatory authorities, power exchanges, and utilities on a number of topics related to electricity markets and power system operations.
 
 
 
________________________________________________________________________________
Microsoft Teams Need help?
Meeting ID: 352 609 855 584
Passcode: PJ6Xx6vS

For organizers: Meeting options
________________________________________________________________________________
 


 
 

Vision

To position Greece as a leading player in AI and Data Science

image
image

Mission

To build an AI Excellence Hub in Greece where the international research community can connect, groundbreaking ideas can thrive, and the next generation of scientists emerges, shaping a brighter future for Greece and the world

 

Welcome to ARCHIMEDES, a vibrant research hub connecting the global AI and Data Science research community fostering groundbreaking research in Greece and beyond. Its dedicated core team, comprising lead researchers, affiliated researchers, Post-Docs, PhDs and interns, is committed to advancing basic and applied research in Artificial Intelligence and its supporting disciplines, including Algorithms, Statistics, Learning Theory, and Game Theory organized around 8 core research areas. By collaborating with Greek and Foreign Universities and Research Institutes, ARCHIMEDES disseminates its research findings fostering knowledge exchange and providing enriching opportunities for students. Leveraging AI to address real-world challenges, ARCHIMEDES promotes innovation within the Greek ecosystem and extends its societal impact. Established in January 2022, as a research unit of the Athena Research Center with support from the Committee Greece 2021, ARCHIMEDES is funded for its first four years by the EU Recovery and Resilience Facility (RRF).

 
 

NEWS

 
Archimedes and the Biomedical Research Foundation Share Latest Findings in AI and Medicine

Archimedes and the Biomedical Research Foundation Share Latest Findings in AI and Medicine

Archimedes and the Biomedical Research Foundation of the Academy of Athens successfully hosted a special collaborative session at the Panhellenic Working Group Seminars of the Hellenic Society of Cardiology. This session focused on innovative applications of artificial intelligence in medicine, with a particular emphasis on advancements in cardiology. Held on Friday, February 7, 2025, in Room MC2 of the Megaron Athens International Conference Centre, the event brought together leading experts to explore how artificial intelligence is transforming cardiovascular medicine.

Archimedes Reaches Milestone of 200 Publications

Archimedes Reaches Milestone of 200 Publications

Archimedes is proud to announce that its researchers have published over 200 scientific publications in top-tier conferences (NeurIPS, ICLR, ICML) and journals.Archimedes maintains a vibrant scientific community of over 130 researchers, including more than 60 senior researchers (faculty members from Greece and abroad), 12 postdoctoral fellows, and 55 PhD students, along with over 20 undergraduate interns from various disciplines.

Happy International Greek Language Day!

Happy International Greek Language Day!

Today, we celebrate the historical, cultural, and linguistic significance of the Greek language. While Standard Modern Greek often takes center stage, we at Archimedes - AI and Data Science Research Hub recognize the impressive diversity and great cultural significance of its numerous dialects. These dialects present both exciting opportunities and complex challenges for AI and Large Language Models (LLMs) because each one of them presents unique linguistic features and all of them are low resourced. That’s why we’re using cutting-edge AI to document, digitize, and analyze these invaluable linguistic treasures, ensuring their preservation and accessibility for generations to come.

Two Research Positions in Data Stream Management Systems & Big Data Management

Two Research Positions in Data Stream Management Systems & Big Data Management

We are pleased to announce the availability of two research positions in data stream management systems and big data management, to be co-supervised by Assistant Professor Odysseas Papapetrou from the Eindhoven University of Technology (TU/e) in the Netherlands and Professor Minos Garofalakis from the Technical University of Crete in Greece.

 
 

The project “ARCHIMEDES Unit: Research in Artificial Intelligence, Data Science and Algorithms” with code OPS 5154714 is implemented by the National Recovery and Resilience Plan “Greece 2.0” and is funded by the European Union – NextGenerationEU.

greece2.0 eu_arch_logo_en

 

Stay connected! Subscribe to our mailing list by emailing sympa@lists.athenarc.gr
with the subject "subscribe archimedes-news Firstname LastName"
(replace with your details)