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A PhD Studentship in AI Applications in Future Energy Markets: Market Implications and Regulatory Requirements

   Department of Electrical and Electronic Engineering

   Sunday, July 31, 2022  Funded PhD Project (Students Worldwide)

About the Project

Position Summary:

Applications are invited for a PhD studentship, to be undertaken at Imperial College London (Electrical and Electronic Engineering Department). This studentship is part of the London Interdisciplinary Social Science Doctoral Training Partnership https://liss-dtp.ac.uk/. This is an exciting interdisciplinary collaboration between King’s College London, Imperial College London and Queen Mary University of London to enable research students to join and develop a research community that springs from the interface between the social science disciplines with health and medicine, the natural and physical sciences, engineering, and the arts and humanities.

Summary of Project:

EU’s transparency regulations are providing a growing repository of publicly accessible market and physical system data. AI tools, such as algorithmic trading and reverse-engineering algorithms, present a promising avenue for market participants and system operators to increase gross margin, reduce trading efforts, and increase accessibility. Despite these potential benefits, the impact of the changing market dynamics is not fully understood and in other industries similar changes have led to collusive outcomes. In particular, having in depth knowledge of competitors’ bidding strategies through reverse engineering could allow an agent to exercise market power. Reverse-engineering other market actors’ trading strategies also raises important questions regarding the ethics of AI and its implications for intellectual property rights.

In order to understand these impacts on electricity markets, this PhD studentship, under the joint supervision of Dr Fei Teng (EEE Department) and Prof Richard Green (Imperial College Business School), proposes to answer the questions “to what extent publicly available data on the energy system can be used to reverse-engineer trading strategies?”, “how agents may behave in a market with varying conditions to today’s market”, “what impact having such information would have on the functioning of the market?” and “how regulation needs to be developed to facilitate the applications of AI”. The student will investigate the AI techniques for energy market applications, develop a multi-agent assessment framework, quantify the market impact of AI applications and inform the development of market and regulatory framework.

Duties and responsibilities

The responsibilities include studying the relevant literature, defining the research problems based on the project descriptions, conducting independent research, regularly reporting progress and results in both oral and written format, collaborating with other team-members, and writing reports/papers of the research outcomes when appropriate. The successful candidate will be based at Imperial but will have the opportunity to visit Baringa Partners to attend meetings and for a summer placement.

Essential Requirements:

Applicants should have a good first degree (usually a first-class degree) or a Master’s degree (or other equivalent experience) in Electrical/Electronic Engineering, Computing, Mathematics, or related areas. They should be highly motivated individuals with a keen interest in conducting interdisciplinary research. Students must also meet the eligibility requirements for Post Graduate Studies at Imperial College London.

Further Information and application:

For informal enquiries, please contact Dr Fei Teng ().

Please click HERE to apply. The application should also include a covering letter, and your CV.

Full guidance on application process is available HERE. Any further queries regarding the application process should be directed to Ms Emma Rainbow  

Closing Date: 31st July 2022 (early application is highly recommended as position will be filled as soon as a suitable candidate is found, which might be before closing date)

About Imperial College London

Imperial College London is the UK’s only university focussed entirely on science, engineering, medicine and business and we are consistently rated in the top 10 universities in the world.

Additional information on the PhD programme in the Department of Electrical and Electronic Engineering can be found here.

Funding Notes

This PhD studentship is jointly funded by LISS DTP and Imperial College London. The full studentship award is available for Home* students and includes Imperial College home tuition fees and a stipend of approximately £17,609 per annum (tax-free). The PhD studentship must start before 1 October 2022.
*Nationality and residency requirements for both Home and International students can be found in UKRI-170321-InternationalEligibilityImplementationGuidance.pdf

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