This discussion paper aims to address the policy implications of emerging large language models such as ChatGPT. As academic researchers active in the field of AI research, we are uniquely positioned to understand the technology involved and to consider its potential implications. Given the...

Electricity system models are widely used to study future designs of power markets. They are commonly used to represent electricity dispatch decisions but struggle to reproduce realistic variation in prices. We show that current assumptions of generators bidding their average variable cost (AVC)...

Active Buildings (ABs) can supply some of the flexibility required by a high-renewable power system by shifting the operation of their (electric) heating and electric vehicle (dis)charging in response to grid conditions, without affecting the users’ comfort or convenience. The reduction in...

Starting in 1998, the electricity market in England and Wales will be opened up to full competition, and all consumers will be allowed to choose their electricity supplier. This promises to result in lower prices, but there will be additional transactions costs exceeding £100 million a year for...

Approaches to the specification of demand systems and the estimation of demand parameters have expanded considerably during recent years (Blundell, 1988). Available empirical estimates have been based on time-series, cross-section, and time-series of cross-section data on individuals, households...