DIT PhD/Doctoral Project
Supervisor name & contact details:
Name: Dr James Hanly
Tel: 01 402 3180
Email: james.hanly@dit.ie
Research Centre Name and Website (if
applicable)
School of Accounting and Finance
Funding Agency
College of Business, DIT
Scholarship Details
The stipend is €10,000 per annum. The cost of
EU academic fee will be covered for the
duration of the scholarship. Non-EU applicants
are eligible to take up the scholarships, but
they may be required to fund the fee
differential. Schools will make available a desk
space, PC along with a modest bursary for
travel, conferences and some limited materials.
Subject Area
Energy Economics, Econometrics
Title of the Project
Volatility and risk management in European
electricity markets
Project Description (max 300 words)
Following the deregulation and liberalisation of electricity markets in Europe a number of
exchanges have developed to facilitate the trading of electricity. This process has resulted in the
power companies shouldering the risk of adverse price movements as regulators no longer
automatically allow them to transfer risk to their customers through price increases. In turn this
has generated a demand for derivative products to allow for hedging those price risks. However,
given the innate volatility characteristic of electricity prices, it can be difficult to obtain
reasonably risk management outcomes using existing products.
This project will address the uncertainty about electricity risk management by first analysing and
quantifying the associated volatility while placing it in a broader framework of energy
commodities which themselves are a part of the electricity generational mix. Further work will
be done based on a comparative analysis of the risk management tools available to power
suppliers including futures and options based hedging strategies. The work will also address the
Irish context and in particular the ability of renewables to act as a hedge against energy price
uncertainty.
Please indicate the student requirements for this project
Masters Degree in Relevant Discipline
Interest in doing research in Energy and the Environment
Familiarity with Quantitative Modelling
Deadline to submit applications (only for
funded projects)
October 23, 2015
Please choose College as appropriate
Arts & Tourism
Business
Engineering and Built Environment
Sciences & Health
X