Part-time Student Project: Statistical Modelling of Power Prices

About the role

NTE Energi is looking for a fourth-year master's student to help improve and develop MCPN, an in-house model for simulating power prices and wind power production. The position is 20% (about one day per week) for six months, with possible extension, and suits someone who wants to combine studies with a professionally relevant quantitative problem. The work is done in close dialogue with experts in NTE's Power Management department.

Key responsibilities

• Learn the current method for combining weekly price curves with hourly variation within the week
• Set up criteria and tests to judge how realistic the hourly price scenarios are
• Analyse model results across different price levels and seasons
• Test a limited set of alternative methods and assess their impact on pricing and risk calculations
• Document findings and recommend a further direction
• Work with historical spot prices, wind data and market price data

Required profile

• Fourth-year master's student in statistics, mathematics, data science, social/economic or financial economics, industrial economics, energy or another quantitative field
• Interest in statistical modelling, time series and uncertainty
• Structured, reproducible work style
• Able to learn an existing model and challenge its assumptions constructively
• Able to explain technical findings simply

Required skills

• Experience with Python or good potential to work with it
• Knowledge of BVAR, Bayesian statistics or the power market is an advantage but not required

The project can also serve as the basis for a master's thesis with NTE, and further collaboration after graduation may be possible. Applications should state your studies, interests and working style; candidates are reviewed continuously, with the aim of finishing before the new year.