Panagiotis Andrianesis awarded ERC Starting Grant for his work on the resilience of electricity markets to crises in decarbonized power systems

CRISP” project wins ERC Starting Grants 2024 award

Each year, the European Research Council (ERC) awards grants of excellence worth up to €1.5 million to young scientists and academics based in Europe to support cutting-edge research in a wide range of fields, from the life and physical sciences to the social sciences and humanities.

On September 5, the European Research Council awarded 494 grants worth a total of €780 million as part of the Starting Grants 2024 call, to support brilliant researchers at the start of their careers and help them launch their own projects, build their teams and dig deeper into their most promising ideas. Panagiotis Andrianesis’ CRISP project “Crisis-Resilient Price Discovery in Decarbonized Power Systems” is one of the 49 winners of the ERC Starting Grants 2024 in France.

His research focuses on the optimization and economics of power systems, the integration of renewable and distributed energy sources, and electricity markets. His “CRISP” project focuses on the development of disruptive theories, innovative methodologies and new mechanisms for crisis-resilient pricing, with the virtuous effect of minimizing the gap between market-driven outcomes and decisions made by system operators. One of the key associated objectives is to promote deep, fair and equitable decarbonization.

The idea gradually took shape, culminating in a proposal for an ERC start-up grant, following the heated debates sparked by extreme events in Europe (the energy crisis) and the USA (winter storm Uri in Texas). These crises have blurred the boundaries between systems and markets, revealing a “wind of change” in the design of electricity markets and the price formation process, although the direction of this evolution is still uncertain.

Panagiotis Andrianesis

About Panagiotis Andrianesis

A graduate of the National Polytechnic University of Athens in Electrical and Computer Engineering, the National and Capodistrian University of Athens in Economics and the Hellenic Army Academy, he went on to complete a Master’s degree in Production Management and a PhD in Operations Research at the University of Thessaly.

Panagiotis Andrianesis began his career as a post-doctoral fellow and then associate research professor at Boston University. He continued his career at the Technical University of Denmark before joining the PERSEE Center at Mines Paris – PSL as a teacher-researcher.