The Critical Role of Mathematical Optimisation in the Energy Transition

Speaker: Justin Xiao
Affiliation: Endgame Economics 

Abstract

The energy industry is underpinned by mathematical modelling at different scales – from keeping the lights on by dispatching generators every five minutes to determining optimal investment portfolios over the next few decades. As power systems around the world, including Australia, are rapidly transitioning towards renewable energy sources, challenges and questions revolving around long-term planning under such a new system arise.

In this talk, we will take a deep dive into the future state of the power system under net zero and what we need to do to get there. In addition, we will also discuss the critical role mathematical optimisation plays in guiding us through this journey and the key questions it can help us answer.

Biography:

Justin is a Consultant at Endgame Economics based in Sydney and has completed a BAdvSc(Honours) from the University of Queensland with a focus in Operations Research. His role focuses on energy market modelling, which includes techno-economic modelling of investment portfolios, assessing system resilience under certainty, simulating market dynamics and optimising operations of a fleet of assets. He has been involved in providing quantitative advice to aid in investment strategies for both private and public entities at different scales. Justin is an advocate for applying quantitative methods to decision-making processes.