EuroGrid

The purpose of this project is to develop a new platform for collecting minute-accurate data that describes the market situation and supply/demand in the power grid to then produce an accurate forecast for the price of electricity. Based on this platform, commercial products will be developed that can contribute to balance-of-plant, sector coupling, and more efficient integration of renewable energy into the power grid. The main deliverable of this project is improved software for more accurate forecasts.

Challenge

The amount of renewable energy in the energy systems of European countries is increasing with each year. Given the use of fluctuating energy sources, such as wind, as one of several supporting energy sources, there is a particular challenge in balancing energy systems across countries because their energy output is not constant.

This applies to both uncertain data on the supply of energy and transmission as well as the prices at which it can be traded. The challenge, then, is to guarantee a stable supply of power — and a stable energy price — as green forms of energy constitute a growing share of the pan-European energy system.

Solution idea

The EuroGrid project will first and foremost develop a digital platform capable of offering better forecasts for the supply of renewable energy, electricity supply, and electricity prices across European countries. The platform will be able to describe the current market situation and energy supply down to the minute, such that the individual countries’ energy systems can be streamlined. The first phase will target the Nordic region, with the goal of later expanding the platform to Central, Eastern, and Southern Europe.

Overall, Eurogrid will optimize security of supply through better digital forecasts for energy supply.

Project deliverables

Development of new data streams for adapting existing models used for weather forecasts throughout Europe.

Problem owner

Problem solvers

Project timeline

PHASE 1: Conceptualisation
PHASE 2: Development and testing
PHASE 3: Demonstration and validation
PHASE 4: Commercialisation

Financed by

Facts

Start: September 2019
End: March 2021
Grant: DKK 2.683.901

Contact person

Christian Boysen

Christian Boysen
COO
Tlf: +45 6171 8663
E-mail