Master Thesis: Data-Driven Stack Models for Electricity Price Forecasting

Baden - Switzerland

Monthly Salary: Not Disclosed

Posted on: 30+ days ago

Vacancies: 1 Vacancy

Job Summary

Extending Data-Driven Merit Order Models for Multi-Country Electricity Price Forecasting with Flow and Storage Integration

The recent paper by Ghelasi and Ziel (2025) proposes a hybrid approach that learns fundamental electricity market parameters from historical data bridging the gap between classical fundamental models and pure data-driven methods like machine learning. However its current scope is limited to a single-country market and does not explicitly model cross-border flows or storage operation.

About the thesis:

Objectives

This project aims to extend the existing framework in two key directions:

Multi-Country Modelling: Include multiple EPEX SPOT SDAC countries; shift from regression-based import/export to implicit flow modelling.
Storage Integration: Add pumped hydro and other storage as market players; use deterministic/stochastic optimization with a price-forward curve.

Research Questions

Can the hybrid model outperform Axpos operational model on price and flow forecasts
How accurate can it capture inter-country flows and storage operation without explicitly modelling FBMC like EUPHEMIA
What is the value-add of integrated storage optimization for forecast accuracy and realism

Methodology

Extend to a multi-node framework with transmission constraints and flow variables.
Integrate storage dispatch via optimization using price-forward curves.
Benchmark against Axpos operational model used in asset-backed trading with out-of-sample backtests and error metrics for prices and flows.

Expected Impact

Demonstrate feasibility and benefits of the models for interconnected European markets.
Provide actionable insights for Axpos traders and analysts on price and flow forecasting.

Your profile:

Masters student with experience in Energy Markets or a related field (e.g. Engineering Mathematics Energy Science Data Science) enrolled at a Swiss university or university of applied sciences (FH)
Proficient in Python
Solid understanding of optimization methods

Starting Date: As soon as possible

Extending Data-Driven Merit Order Models for Multi-Country Electricity Price Forecasting with Flow and Storage Integration The recent paper by Ghelasi and Ziel (2025) proposes a hybrid approach that learns fundamental electricity market parameters from historical data bridging the gap between classi...

Extending Data-Driven Merit Order Models for Multi-Country Electricity Price Forecasting with Flow and Storage Integration

About the thesis:

Objectives

This project aims to extend the existing framework in two key directions:

Multi-Country Modelling: Include multiple EPEX SPOT SDAC countries; shift from regression-based import/export to implicit flow modelling.
Storage Integration: Add pumped hydro and other storage as market players; use deterministic/stochastic optimization with a price-forward curve.

Research Questions

Can the hybrid model outperform Axpos operational model on price and flow forecasts
How accurate can it capture inter-country flows and storage operation without explicitly modelling FBMC like EUPHEMIA
What is the value-add of integrated storage optimization for forecast accuracy and realism

Methodology

Extend to a multi-node framework with transmission constraints and flow variables.
Integrate storage dispatch via optimization using price-forward curves.
Benchmark against Axpos operational model used in asset-backed trading with out-of-sample backtests and error metrics for prices and flows.

Expected Impact

Demonstrate feasibility and benefits of the models for interconnected European markets.
Provide actionable insights for Axpos traders and analysts on price and flow forecasting.

Your profile:

Masters student with experience in Energy Markets or a related field (e.g. Engineering Mathematics Energy Science Data Science) enrolled at a Swiss university or university of applied sciences (FH)
Proficient in Python
Solid understanding of optimization methods

Starting Date: As soon as possible

Key Skills

Dermatology
Communication
Excel
Furniture
Airlines
Jboss

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About Company

Axpo Group

Axpo's ambition is to provide society with a sustainable future through innovative energy solutions. Axpo is the largest Swiss producer of renewable energy and an international pioneer in energy trading and the marketing of solar and wind power. More than 7,000 employees combine exper ... View more

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