Title: Designing Processes and Products for an Evolving Electricity System: An Introduction to Flexibility Options

Abstract: Policy goals that promote clean energy and energy equity have spurred a fundamental transformation of electricity systems. The success of this transformation depends not only on technological advances but also on a profound evolution of processes and optimization models that aid power system planning and operations. New processes and models need to effectively integrate new resources, manage the impact of evolving uncertainties, and consider usually overlooked social factors. In this talk, Elina will highlight her past research on design, modeling, and analysis of novel processes and market solutions. She will also introduce “flexibility options”, a proposed electricity market product that addresses previously overlooked short-term hedging needs of uncertain and flexible resources. She will discuss key features of the flexibility options, the anticipated benefits for buyers and sellers, and the implications of their potential introduction for market operations. The talk will conclude by outlining future research areas.

Bio: Elina Spyrou is a research engineer at the Power Systems Engineering Center of the National Renewable Energy Laboratory. At NREL, she collaborates with experts in control and data analytics to develop holistic solutions for the integration of emerging and renewable resources in power system operations. Her research at NREL is funded by ARPA-E and other Department of Energy programs. Her research in power system planning in fragile areas was featured in the April 2019 cover of Nature Energy and was supported by an Onassis Foundation scholarship. She is an active member of INFORMS, IEEE, and ESIG (Energy Systems Integration Group).  Elina received her PhD in Geography and Environmental Engineering from the Johns Hopkins University (’19), her MSc in Environmental Science and Policy from the Johns Hopkins University (’16), and her Diploma in Electrical and Computer Engineering from the National Technical University of Athens (’12).