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Electricity market Hawkeye - An online surveillance tool to detect distortions in the supply-side of electricity markets

Objective

While electricity is a basic commodity that underpins industrialization, progress and the quality of life of human beings, its production, storage and transmission is strongly constrained by physical laws and its demand is utterly inelastic. All of this together exacerbates the vulnerability of a sector that is vital to modern societies. A critical and vulnerable sector is not only easily affected by external supply shocks, but also susceptible to manipulation and abuse. Spurred by the conviction that Science must serve the people, in this project we plan to develop and demonstrate the efficacy and usefulness of a tool to automatically alert about atypical distortions in the supply-side of electricity markets, such as those caused by the exercise of market power by energy companies with a dominant position. The tool combines such features that make it unique and the only one of its kind: it runs online and automatically, is purely data-driven, only fed with publicly available information, computationally cheap and able to learn and explain the context under which the distortion is more likely to occur. The scientific heart of the tool is Functional Statistics, and to build it, we will exploit novel notions and techniques for the identification of functional outliers that we developed within the framework of the ERC-STG project FlexAnalytics – Advanced Analytics to Empower the Small Flexible Consumers of Electricity. Our ambition is to equip market regulators and operators with a powerful instrument that not only brings benefits in terms of money saved for consumers, reduced time and effort in supervision and monitoring, and shorter delays in detecting potential offenders, but also and above all, allows regulators to fulfill their most sacred obligation more effectively and efficiently: to protect the weak.

Fields of science (EuroSciVoc)

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Programme(s)

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Topic(s)

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Funding Scheme

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HORIZON-ERC-POC - HORIZON ERC Proof of Concept Grants

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Call for proposal

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(opens in new window) ERC-2025-POC

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Host institution

UNIVERSIDAD DE MALAGA
Net EU contribution

Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.

€ 150 000,00
Address
AVDA CERVANTES, NUM. 2
29016 MALAGA
Spain

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Region
Sur Andalucía Málaga
Activity type
Higher or Secondary Education Establishments
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Total cost

The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.

No data

Beneficiaries (1)

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