Technological and societal developments over recent decades encouraged the use of an increasing quantity of renewable energy sources (wind, solar) for the production of electric energy. People are starting to generate their own energy, becoming producers themselves. At the same time the predictability of both production and consumption of electric energy will decrease, introducing larger imbalances in the electricity network. The current energy production system inadequately copes with this unpredictability and will soon reach the limit for secure and reliable operation. This is the main motivation for E-Price.
E-Price is a three-year European research project aiming to develop a reliable, an efficient and a societally-acceptable control concept for the EU energy market. E-Price sets a new standard by introducing a feasible price-based control strategy. Its ambition is to be at the very heart of future developments that fully facilitate the increasing amounts of less-predictable renewable energy sources.
E-Price uses expertise to develop innovative products and methods in co-creation with private and public parties. The interdisciplinary team of specialists from European universities and industry will look beyond present boundaries and fixed structures.
E-Price will offer an integral solution as the standard framework for trade in electrical energy, satisfying European Union policy goals. This will bring about a market and control concept that gives incentives to all participants to follow their own interests while still satisfying the societal requirements on reliability, efficiency and transparency. It will bring about a structural change in the way electricity will be produced and used in the future.