Technological and societal developments over recent decades have introduced an increasing amount 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 its limits. This led to E-Price.
E-Price is a three-year European research project aiming to develop a reliable, an efficient and a societal-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, meeting European Union policy. This will bring about a market and control concept that gives incentives to all participants to follow their own interests and still satisfying the societal requirements on reliability, efficiency and transparency. It certainly affects the way electricity will be produced and used in the future, thus bringing about a structural change.