LBS energy expert shares in £800,000 grant

Professor Derek Bunn wants to make energy markets more competitive. 

Derek Bunn, Professor of Management Science and Operations, and Dr Jesus Nieto Martin, Senior Research Fellow, MSO, as part of a consortium research project, with University College London, University of Cambridge and University of Strathclyde funded by the Engineering and Physical Sciences Research Council have been awarded £899,374 for an 18-month project. The project will seek to evaluate the electricity market arrangements and technologies that can facilitate the emergence of digital aggregators.

Professor Bunn said: “The so-called energy transition manifests renewable technologies, greater consumer engagement and digitalisation. Our new project on digital aggregators formulates how groups of small generators, local energy resources and customers with demand flexibility can be integrated by new service providers. With most power trading now done by algorithms, we aim to see how digital aggregation of local resources can bring extra competition into the market”. 

Professor Bunn has been involved in research related to the energy sector throughout his academic career. He is currently chairman of the Government panel for electricity security and an independent member of the industry board that oversees electricity trading.