D. (Derck) Koolen MSc

Derck Koolen
Rotterdam School of Management (RSM)
Erasmus University Rotterdam
ERIM PhD Candidate
Field: Logistics & Information Systems
Affiliated since 2014

Derck Koolen is a PhD Candidate at the Technology and Operations Management department of Rotterdam School of Management, Erasmus University and currently a visiting research fellow at London Business School. His research focuses on the risks and challenges for electricity market design in integrating sustainable energy sources. Following a multi-method approach, the impact of a larger integration of intermittent renewable energy sources is assessed in terms of market efficiency, strategic bidding decisions and risk behavior in relation to the design of electricity markets. Derck has been a visiting scholar at Haas School of Business, University of California Berkeley and Warrington College of Business, University of Florida.

Derck is involved in teaching courses for MBA and MSc students and has supervised over 20 master thesis projects with practical relevance. He has served as an advisor for RSM teams in international business case competitions and has experience as freelance writer and consultant offering expertise in commodity market design, electricity regulation, and technology & innovation policy. Derck holds a Master's degree in Energy Engineering from the University of Leuven and has worked as an energy economist for a German grid operator. 


PhD Track Risks and Challenges for Electricity Market Design in Integrating Sustainable Energy Sources

With the growing share of sustainable energy sources, electricity markets experience increasing uncertainty and volatility. As with other financial markets, information flows are seen to play a key role in the decision making process and hedging activities with forward contracts serving as a mean for risk reduction in liberalized electricity markets. Furthermore as electricity storage is not yet economically viable, markets experience a range of producing technologies with different constraints. Forward price models can however not be universally applied across all electricity markets and with the ongoing decarburization of the electricity sector, there is not yet a definitive view on how decision making, expectations and risk premiums vary over markets and over time.

We contribute to the discussion on the design of the future electricity market and raise challenges and conditions for integrating larger shares of renewable energy sources via a multi-method approach. The work builds on equilibrium pricing models in a heterogeneous technology agent setting. Next, we simulate various conditions in an experimental market setting and validate empirically. This allows us to spur innovation as it allows market structures to be evaluated under various real-world conditions and alter market design both from market and individual perspective. Analyzing these systems, relationships between market participants, technology adaption and changes to market behavior provide ingredients of key importance for devising a robust well-functioning electricity market, its design and its governing policies.

Keywords
Market Design, Environmental Sustainability, Energy Informatics, Risk Premiums, Electricity Pricing
Time frame
2014 -
  • D. Koolen, W. Ketter, L. Qiu & A. Gupta (2017). The Sustainability Tipping Point in Electricity Markets. In Proceedings of the 2017 International Conference On Information Systems. Seoul, South Korea
  • D. Koolen, R. Huisman & W. Ketter (2017). The Electricity Forward Price with Increasing Intermittent Supply. In 2017 International Conference on Energy Finance. Hangzhou, China
  • D. Koolen, L. Qiu, W. Ketter & A. Gupta (2017). Market Efficiency and Design in Electricity Markets Integrating Renewable Energy: Theory and Simulation. In 2017 Winter Conference on Business Analytics (WCBA). Snowbird, Utah
  • D. Koolen, R. Huisman & W. Ketter (2016). Risk and Decision Making for Electricity Forward Markets with Volatile Resources. In Energy and Commodity Finance Conference 2016. Paris, France
  • D. Koolen, L. Qiu & W. Ketter (2016). Decision Making under Information Revelation Policies in Electricity Markets. In 2016 Winter Conference on Business Intelligence (WCBI). Snowbird, Utah

Address

Visiting address

Office: Mandeville Building T09-07
Burgemeester Oudlaan 50
3062 PA Rotterdam

Postal address

Postbus 1738
3000 DR Rotterdam
Netherlands