The team representing the Econometric Institute of Erasmus School of Economics finished second in the annual Econometric Game, just behind University of Warsaw and ahead of University of Amsterdam and 27 other prestigious universities, including Harvard, Oxford, and Cambridge.
The Econometric Game, hosted annually by University of Amsterdam, is a prestigious competition that brings together 30 of the world's top universities. Teams of four students, including up to two PhD candidates, tackle complex, real-world problems through thought-provoking cases designed by leading academics and industry experts. The competition spanned several intense days from 9 to 11 April, with the first case being tackled over the first two days. Following this, ten finalists were selected to work on the second case on April 11. Afterwards, the Econometric Game Congress took place, where various lecturers discussed the case and the econometric methods necessary for solving it. The solutions were reviewed by a jury of qualified and independent professors.
Working on Forecasting Grid Congestion
This year's case focused on Forecasting Grid Congestion. The goal was to create a model that predicts congestion events in the German electricity network, specifically for TenneT DE.
Grid stability is usually maintained through congestion management or redispatch, aiming to minimise the reduction of renewable energy feed-in while using the network's flexibility. Transmission system operators (TSOs) ensure grid stability by integrating distribution grids into the congestion management framework. Understanding congestion management patterns helps in developing models that can predict potential bottlenecks, allowing for pre-emptive actions. Better forecasting accuracy can reduce costs by enabling targeted mitigation measures.
Teams were tasked with constructing a predictive model for such events and examining the relationship between congestion management and relevant exogenous variables, including electricity demand, electricity supply, and electricity prices. The second case built upon the first, incorporating more complex modelling and extensive policy recommendations.
The Erasmus School of Economics team
The Erasmus School of Economics team comprised Simon Donker van Heel (PhD candidate), Bernhard van der Sluis (PhD candidate), Joshua Rooijakkers (master's student), and Sem van Embden (master's student). Their dedication and expertise were evident throughout the competition.
- More information
For more information, please contact Ronald de Groot, Media and Public Relations Officer at Erasmus School of Economics, rdegroot@ese.eur.nl, or +31 6 53 641 846.
