Energy Unplugged by Aurora

EP.43 Models and their role in the energy transition: an Aurora perspective

Apr 9, 2021

36:05

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Episode notes

Introduction

3min

Matias' Unique Perspective on Modeling

3min

The Importance of Models in Mathematics

2min

The Differences Between Statistics and Fundamentals

3min

Why Do We Use Models for Building Understanding?

2min

The Differences Between Modeling Complex Physical Systems and Economic Modeling

4min

Building Models for the Energy Transition

2min

Building a Model for the Energy Market

2min

The Importance of Calibration in Forecasting

5min

10.

How to Assess the Quality of Energy Models

4min

11.

The Dangers of Using Models to Critically Evaluate What They Are Producing

2min

12.

The Role of Models in Modeling the New Reality

3min

13.

The Importance of Transparency in Modeling Renewables

2min

14.

The Future of Energy Modelling

2min

This week on Energy Unplugged we have a special episode on modelling energy markets and the broader complexities of modelling for future scenarios.

Our Head of Digital Solutions Mateusz Wronski chats with Jonathan Black, our Head of Modelling. Jonathan’s role is to set the vision and strategy for our market models and their developments. Besides managing our international team of modellers he has extensive experience in modelling for a breadth of physical systems, with a background as a Research Scientist at the National Physical Laboratory and a PhD in Applied Mathematics.

Mateusz and Jonathan discuss:

•Credibility of modelling outside academia
•Our motivation for building our own models
•Modelling role in decarbonisation of the energy sector

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