Forecasting, Risk, and Resilience in Renewable Electricity Markets

The Institute for Advanced Studies (IAS) – UM6P, in collaboration with the Laboratory of Inorganic Materials for Sustainable Energy Technologies (LIMSET), hosted a seminar by Prof. Giuseppe Orlando, marking the conclusion of his residency at the IAS.

Entitled Forecasting, Risk, and Resilience in Renewable Electricity Markets: An Integrated Framework with an Empirical Application to the Italian Power System, the seminar was held at the FATIMA Al Fihria Auditorium on the UM6P Campus Benguerir. The session presented a comprehensive analytical framework combining advanced stochastic modeling, synchrony analysis, and risk-based validation to address volatility, price jumps, and timing challenges in electricity markets with high shares of renewable energy.

Drawing on empirical data from the Italian power system, Prof. Orlando demonstrated how this integrated approach improves forecasting accuracy, reduces balancing costs, and enhances grid resilience. The presentation highlighted practical implications for system operation in renewable-rich contexts, offering insights relevant to both market design and infrastructure planning.

The seminar concluded with a discussion on broader applications of the proposed framework beyond the energy sector, comparisons with machine-learning–based approaches, and the implications for transmission system operators (TSOs) and policymakers seeking to strengthen the reliability and efficiency of future energy systems.

The IAS warmly thanks Prof. Giuseppe Orlando and LIMSET for this rigorous and insightful contribution, which underscored the value of interdisciplinary research in addressing the challenges of the energy transition.