BELIEVE – Building Enhanced financial resiLience by Integrating Environmental Variability into Economic dispatch

The BELIEVE project will develop an enhanced electricity market modelling framework based on improving the simulation of weather and climate variability on market dynamics in future generation scenarios. This is currently not well characterised and is increasingly a concern for investor confidence as markets evolve with increased renewable energy penetration.

The modelling will better account for changes in demand and generation and deliver the new insights needed by energy market participants.

The project is led by the Institute for Environmental Analytics, an applied R&D centre specialising in weather and climate analytics at the University of Reading.