Exploring the intricacy of real-life energy markets: Skoltech collaborates with the Russian energy consulting company SKM

In March 2024, students pursuing their master’s degree in energy systems had an opportunity to delve into the intricacies of real-life power markets performance and analysis through a collaboration between Skoltech and SKM Market Predictor.

As part of the “Power Markets and Regulations” course, students engaged with representatives from SKM Market Predictor, a frontrunner in providing professional solutions for forecasting, analytics, and consulting in the energy markets of Russia.

Igor Budnikov, the head of analysis at SKM Market Predictor, delivered a guest lecture, shedding light on various facets of simulation modeling and analysis of the Russian day-ahead electricity market. Anastasia Kurnaleeva, an assistant from the Department of Electric Power Systems at Moscow Power Engineering Institute, introduced students to specialized software, allowing imitation of the real-life Russian day-ahead market, developed by SKM Market Predictor.

Marina Dolmatova, an associate professor of the practice at the Energy Center, guided students through a series of hands-on laboratory sessions focused on aspects of locational marginal pricing in the electricity market of Russia, demonstrated through real-life market analysis. Students simulated and analyzed the impact of generating companies’ and consumers’ strategies, as well as the nuances of power grid constraints on market outcomes.

Both industry and academic circles face a growing demand for skilled professionals possessing not only technical expertise in energy systems but also a comprehensive understanding of the economics and regulations governing industry markets, along with insight into the interests of all market participants. This need is fueled by escalating competition in the energy market, the transition to digital technologies, and the advancement of distributed and renewable energy sources.

Of special relevance in this landscape is the acquisition of practical skills and real-world analysis capabilities by students. This unique opportunity was provided to Skoltech students at the “Electricity Markets and Their Regulation” course as part of the collaboration with SKM Market Predictor.