Skip to main content

ICMA Centre PhD Candidate awarded best paper prize at CEMA Awards 2018

An academic paper co-written by Georgi Slavov, Head of Research at Marex Spectron and ICMA Centre PhD Candidate, on Optimal Cross Border Electricity Trading has won the General Prize for the best paper at the highly prestigious Annual Commodity and Energy Markets Association meeting, held in Rome on 20-21 June. The other authors were Professor Alvaro Cartea, from the University of Oxford, and Professor Tiziano Vargiolu and Maria Flora from the University of Padova.

Georgi CEM Awards

The paper studies the dynamics of cross-border intra-day European power flows between multiple locations and the reaction of price on such flows. We demonstrate successfully that:

  • Electricity flows between interconnected grids to not only have a direct impact on price, where price spread between two locations reacts on electricity flows between these two location only, but also an indirect effect where electricity flow between two locations affect the price in a third location.
  • The optimal trading strategy is based not only on trivial price spread arbitrage, observed between the selected interconnected locations, but also the impact on the spreads from the flow of electricity among them.

This paper is a valuable contribution to our understanding of the effects from the market coupling process on the wholesale European power sector. Market participants also benefit from the evidence that the optimal trading strategy is the one which is based not only on trivial price spread arbitrage observed between the selected interconnected locations, but also on the impact on the spreads from the flow of electricity among them.

Visit the the CEMA Awards for further information on the paper and prize.

Published 10 July 2018

You might also like

Talk on “Steve Jobs’ last gift and yoga meditation”

1 November 2013
What does yoga meditation have to do with the late Steve Jobs, former CEO of Apple and one of the most creative and innovative entrepreneurs of our time? Before his passing in 2011 he made arrangements that all those attending his memorial service at Stanford University should receive a copy of “Autobiography of a Yogi” by Paramahansa Yogananda, a spiritual classic which he said he had read once a year since he had first become acquainted with the book. “There has been nothing before, written in English or in any other European language, like this presentation of Yoga” writes Columbia University Press, while the New York Times defines it “A rare account”.

CBI’s first Green Bond Treasurer Survey supported by ICMA Centre academics

21 April 2020
Dr Ivan Sangiorgi and Dr Lisa Schopohl from the ICMA Centre at Henley Business School have supported the Climate Bonds Initiative (CBI) by providing data support for its first Green Bond Treasurer Survey.
Business News

Congratulations to the winners of the Chancellor’s Award 2013!

7 November 2013
Many congratulations to four of our ICMA Centre undergraduates who will be honoured at this year's annual celebration hosted by the Chancellor, Sir John Madejski and Vice-Chancellor, Sir David Bell.