Dr. Martin Densing

photo of Martin Densing

Scientist

Paul Scherrer Institute
Forschungsstrasse 111
5232 Villigen PSI
Switzerland

2008 Dr.sc.ETH Institute for Operations Research and Mathematical Methods in Economics (IOR), University of Zurich, together with Institute for Operations Research (IFOR), Department of Mathematics, ETH, Zurich
1996 MSc ETH Physics Theoretical Physics. ETH, Zurich
2009- Today Scientist Energy Economics Group, Paul Scherrer Institute, Switzerland
2008- 2009 Consultant Owner of company MathOpt (Risk Management). Customers: Retail Banks in Switzerland and Liechtenstein, Risk IT provider
2006- 2008 Consultant FIS Corp. (financial risk management)
2000- 2006 Research Assistant Institute for Operations Research and Management Science, University of Zurich
1997- 2000 Consultant Wolters-Kluwer Corp. (financial risk software)

Peer Reviewed Articles

Densing, M. (2019). The value of flexible selling: Power production with storage for spinning reserve provision. European Journal of Operational Research, in press, 2019. https://doi.org/10.1016/j.ejor.2019.08.012.

Panos, E., Densing, M. (2019). The future developments of the electricity prices in view of the implementation of the Paris Agreements: Will the current trends prevail, or a reversal is ahead? Energy Economics, in press. https://doi.org/10.1016/j.eneco.2019.104476

Yazdanie, M., Densing, M., Wokaun, A. (2018). The nationwide characterization and modeling of cal energy systems: quantifying the role of decentralized generation and energy resources in future communities, Energy Policy, Vol. 118, pp. 516-533, doi: 10.1016/j.enpol.2018.02.045

Yazdanie, M., Densing, M., Wokaun, A. (2017). Cost optimal urban energy systems planning in the context of national energy policies: A case study for the city of Basel, Energy Policy, Vol. 110, pp. 176–190, doi: 10.1016/j.enpol.2017.08.009

Welsch, M., Volkart, K., Densing, M., et al. (2017). The Role of Fuel Cells and Hydrogen in Stationary Applications, Europe's Energy Transition - Insights for Policy Making (Ch. 23), pp. 189-205, ELSEVIER, ISBN 978-0-128098-06-6 link

Yazdanie, M., Densing, M., Wokaun, A. (2016). The Role of Decentralized Generation and Storage Technologies in Future Energy Systems Planning for a Rural Agglomeration in Switzerland, Energy Policy, Vol. 96, pp. 432-445, doi: 10.1016/j.enpol.2016.06.010

Densing, M., Panos, E., Hirschberg, S. (2016). Meta-Analysis of Energy Scenario Studies: Example of Electricity Scenarios for Switzerland, Energy, Vol. 109, pp. 998-1015, doi: 10.1016/j.energy.2016.05.020

Panos E., Densing M., Volkart K. (2016). Access to electricity in the World Energy Council's global energy scenarios: An outlook for developing regions until 2030, Energy Strategy Reviews, Vol. 9, pp. 28-49, Elsevier doi:10.1016/j.esr.2015.11.003

Panos E., Turton H., Densing M., Volkart K. (2015). Powering the growth of Sub-Saharan Africa: The Jazz and Symphony scenarios of World Energy Council, Energy for Sustainable Development, Vol. 26, pp. 14-33, Elsevier doi:10.1016/j.esd.2015.01.004 ISSN 0973-0826

Densing, M. (2014). Stochastic programming of time-consistent extensions of AVaR, SIAM Journal on Optimization, Vol. 24(3), pp. 993-1010, DOI:10.1137/130905046, pdf-Version

Densing, M. (2013). Price-Driven Hydropower Dispatch Under Uncertainty In Kovacevic, R.; Pflug, G. & Vespucci, M. T. (ed.), Chapter 4, Risk Management in Energy Production and Trading, pp. 73-98, DOI: 10.1007/978-1-4614-9035-7_4

Densing, M. (2013). Dispatch Planning using Newsvendor Dual Problems and Occupation Times: Application to Hydropower, European Journal of Operational Research, Vol. 228, pp. 321-330, DOI: 10.1016/j.ejor.2013.01.033

Densing, M., H. Turton and G. Bäuml (2012). Conditions for the successful deployment of electric vehicles - a global energy system perspective, Energy, Vol. 47, pp. 137-149, DOI: 10.1016/j.energy.2012.09.011

Densing, M. (2012). Occupation times of the Ornstein–Uhlenbeck process: Functional PCA and evidence from electricity prices, Physica A, Vol. 391 (23), pp. 5818-5826, DOI: 10.1016/j.physa.2012.07.040

Densing, M. and H. Turton (2011). Contribution to the World Energy Council, Global Transport Scenarios 2050, Project Partners: IBM Corporation and Paul Scherrer Institute, ISBN 978-0-946121-14-4/978-0-946121-13-7

Technical reports and working papers

Zimmermann, F., Densing, M., Keles, D., Dehler, J., Hack, F., Fichtner, W. (2019). Impact of different market designs in the CWE market area on electricity prices and on the competitiveness of Swiss hydropower (PowerDesign). KIT/PSI. Report for the SFOE (Swiss Federal Office of Energy). Link: ARAMIS Research database

Panos, E., Densing, M., Schmedders, K. (2017). Oligopolistic capacity expansion with subsequent market-bidding under transmission constraints (OCESM), Report of SFOE-EWG Research Programme Alternative download (ZORA Archive of University of Zurich): DOI: 10.5167/uzh-151127

Shivakumar, A., Anjo J., Miller, M., Pye, S., Rouelle, P.B., Densing, M., Kober, T. (2017). Smart energy solutions in the EU: State of play and measuring progress, INSIGHT_E Policy Report, Abstract and Download

Volkart K., Densing M. et al. (2016). Assessments of the Merit of Different Hydrogen and Fuel Cell Pathways for Energy Applications, INSIGHT_E Policy Report 6, Abstract and Download

Campbell D., Densing M., Panos E., et al. (2015). New Zealand Energy Scenarios – Navigating energy futures to 2050, World Energy Council, BusinessNZ Energy Council. Project Partners: Paul Scherrer Institute, PricewaterhouseCoopers, Sapere Research Group. full reportproject webpage

Densing M., Panos E., Hirschberg S. (2015). Meta-Analysis of Energy Scenario Studies: Example of Electricity Scenarios for Switzerland, Social Science Research Network (SSRN) link

Densing, M., Hirschberg, S., Turton, H. (2014). Review of Swiss Electricity Scenarios 2050, PSI-Report 14-05, Paul Scherrer Institute (PSI), ISSN 1019-0643, Download (3MB), Presentation (English), Praesentation (Deutsch), Data Charts, updated (Microsoft Excel)

Frei C., Turton H., Densing M., Panos E., Volkart K. et al. (2013). World Energy Scenarios – Composing energy futures to 2050, Project Partner Paul Scherrer Institute (PSI), Switzerland. World Energy Council, London, ISBN 978-0-946121-33-5

Turton H., Panos E., Densing M., Volkart K. (2013). Global Multi-regional MARKAL (GMM) model update: Disaggregation to 15 regions and 2010 recalibration, PSI Bericht 13-03, Download (4MB)

Conference contributions

Densing, M. (2019). Modelling of dispatch of stored hydropower. Swiss Competence Centre of Energy Research - Supply of Electricity,  Annual conference. 3-4 Sep., EPFL Lausanne.

Wan, Y., Densing, M. (2019). Nonlinear Inverse Demand Curves in Electricity Market Modeling. Swiss Competence Centre of Energy Research - Supply of Electricity,  Annual conference. 3-4 Sep., EPFL Lausanne.

Wan, Y., Densing, M. (2019). Non-Linear Demand Curves in Electricity Markets: Impact on Market Power Estimation.  16th European IAEE Conference, 25-28 Aug, Lubliana.  https://iaee2019ljubljana.oyco.eu/download/contribution/abstract/226/226_abstract_20190315_145537.docx

Panos, E., Densing, M., Kober, T. (2018). Langfristige Preisentwicklungen im Strommarkt, SWISSCLEANTECH Tutorial, Zürich, 23. Oktober 2018

Densing, M. (2018). Explicit solutions of stochastic energy storage problems, 29th European Conference on Operational Research (EURO2018), Valencia, Spain, 8-11 July 2018

Panos, E., Densing, M. (2018). The future development of the electricity prices in view of the implementation of the Paris Agreements in 2030: will the current trends prevail or reverse is ahead?, The 37th International Energy Workshop, Gothenburg, Sweden, 19-21 June 2018, Download Presentation

Densing, M., Panos, E. (2018). Electricity Market Prices under Long-Term Policy Scenarios, 41st International Association of Energy Economics (IAEE) International conference, Groningen, Netherlands, 10-13 June 2018, Download Presentation

Kober, T., Panos, E., Densing, M. Kannan, R. (2018). Zukünftige Rolle der Schweizer Wasserkraft im Gesamtenergiesystem, VSE Fachtagung “Zukunft der Wasserkraft", Olten, 27. June 2018, Program

Densing, M. (2017). Modeling of electricity markets and hydropower dispatch, SCCER - Supply of Electricity Annual Conference, Birmensdorf, Switzerland, 14-15 September 2017, Download Presentation

Kober, T., Yazdanie, M. Densing, M. (2017). Energiedrehscheibe Basel: Langfristuntersuchungen der zukünftigen Basler Energielandschaft basierend auf einem ökonomischen Optimierungsmodell, in novatlantis Bauforum, Basel, 21. Juni 2017, Presentation

Densing, M., Panos, E., Schmedders K. (2017). Stochastic bi-level electricity market modeling, 2nd Workshop of SET-Nav WP10 Modelling Forum - Modelling of Risk and Uncertainty in Energy System, ETH, Zürich, Switzerland

Yazdanie, M., Densing, M. (2017). The Role of Decentralized Generation and Storage Technologies in the Future Energy Systems of Swiss Communities, INSMART - Integrative Smart City Planning (Final Conference), Brussels, Belgium, Presentation

Yazdanie, M., Densing, M. (2016). Decision-making for energy system planning using TIMES: the uptake of decentralized generation and storage technologies on a community-scale, EURO 2016, Poznan, Poland

Densing, M. (2016). Stopped AVaR: A multiperiod extension of the risk measure AVaR, with application in power optimization, 14th Triannual International Conference on Stochastic Programming (ICSP 2016), Buzios, Brazil, 25 June - 1 July 2016

Volkart K., Densing M., Panos E., Mutel C., Sabio N., Strachan N. (2016). Implementation of multi-objective optimization in the MARKAL framework for simultaneously analysing the economic, societal and environmental performance of the global energy system, wholeSEM Annual Conference 2016, Cambridge, UK, Presentation

Densing, M., Panos, E., Schmedders, K. (2015). Decision making in electricity markets: Bi-level games and stochastic programming, Energy Science Center Workshop, ETH Zurich, Switzerland, Presentation

Densing, M., Panos, E., Schmedders, K. (2015). Bilevel oligopolistic electricity market models: The case of Switzerland and surrounding countries, OR2015, Annual International Conference of the German Operations Research Society, Vienna, Austria

Densing M. (2015). Stochastic programming formulations of coherent multi-period risk measurement, 13th Swiss Operations Research Days, IBM Research, Zurich

Densing, M., Hirschberg, S., Panos, E. (2015). Future Energy Scenarios (keynote), ICOSSE 2015 (4th International Congress on Sustainability and Engineering, Balatonfured, Hungary

Volkart K., Panos E., Densing M. (2015). Review of Global Energy Scenarios, SCCER-SoE Annual Conference 2015, Neuchâtel, Switzerland, Poster

Panos E., Densing M., Volkart K. (2015). Achieving universal electricity access by 2030 in a sustainable way, IEW 2015, Abu Dhabi, UAE, Presentation

Densing, M. (2014). Price-Duration Curves: Decomposition and integration into hydropower optimization models, 3rd Asset Optimization Day (AOD 2014), Bern, Switzerland

Densing, M. (2014). Hydropower optimization against the market: Generalizations of the newsvendor problem, 4th Energy Finance Christmas Workshop (EFC14), St. Gallen, Switzerland

Panos E., Densing M., Turton H., Volkart K. (2014). Choosing a tempo to power Sub-Saharan Africa in 2050: Jazz and Symphony scenarios of the World Energy Council, IEW 2014, Beijing, China, Presentation

Panos E., Densing M., Turton H., Volkart K. (2014). ORCHESTRATING OR IMPROVISING THE GLOBAL ENERGY TRANSITION: SCENARIO MODELLING WITH THE WORLD ENERGY COUNCIL, IEW 2014, Beijing, China, Presentation

Densing, M. (2014). Pumped-storage hydropower optimization: Effects of several reservoirs and of ancillary services, IFORS 2014, Barcelona, Spain, Presentation

Densing, M. (2013). Price-driven hydropower dispatch under uncertainty, Workshop on Risk Management in Energy Production and Trading, Vienna, Austria, External Link

Densing, M., Turton H., Panos E., Volkart K. (2013). Global Energy Scenarios 2050, International Energy Workshop, Paris, France, Presentation

Densing, M., H. Turton and G. Bäuml (2012). Conditions for the deployment of alternative drivetrains: An energy system perspective, 12th IAEE European Energy Conference, Venice, Italy, Presentation

Densing, M., H. Turton and G. Bäuml (2012). Conditions for the successful deployment of electric vehicles, 12th Swiss Transport Research Conference, Ascona, Switzerland, Conference paper

Densing, M. and J. Mayer (2012). Multistage stochastic optimization of power dispatch and multiperiod duality of CVaR, 21st International Symposium on Mathematical Programming (ISMP 2012), Berlin, Germany, Presentation

Densing, M. and J. Mayer (2012). Multiperiod Stochastic Optimization Problems with Time-Consistent Risk Constraints, Operations Research Proceedings 2011, Klatte D., Lüthi H.-J., Schmedders K. (ed.), Springer, 2012, p. 521-526. DOI: 10.1007/978-3-642-29210-1_83

Densing, M. (2012). Stochastic programming formulations of coherent multiperiod risk measurement, 25th European Conference on Operational Research (EURO 2012), Vilnius, Lithuania, Presentation

PhD Thesis

Densing, M. (2007). Hydro-Electric Power Plant Dispatch-Planning - Multi-Stage Stochastic Programming with Time-Consistent Constraints on Risk, ETH, 2007, No.17244, DOI: 10.3929/ethz-a-005464814

  • Densing M, Panos E, Hirschberg S
    Meta-analysis of energy scenario studies: Example of electricity scenarios for Switzerland
    Energy. 2016; 109: 998-1015. https://doi.org/10.1016/j.energy.2016.05.020
    DORA PSI
  • Panos E, Densing M, Volkart K
    Access to electricity in the World Energy Council's global energy scenarios: An outlook for developing regions until 2030
    Energy Strategy Reviews. 2016; 9: 28-49. https://doi.org/10.1016/j.esr.2015.11.003
    DORA PSI
  • Panos E, Turton H, Densing M, Volkart K
    Powering the growth of sub-saharan africa: The jazz and symphony scenarios of world energy council
    Energy for Sustainable Development. 2015; 26: 14-33. https://doi.org/10.1016/j.esd.2015.01.004
    DORA PSI
  • Densing M, Hirschberg S, Turton H
    Review of Swiss electricity scenarios 2050. Report prepared for the group energy perspectives and the Swiss competence center for energy research "supply of electricity" (SCCER SoE)
    Villigen PSI, Switzerland: Paul Scherrer Institut; 2014. PSI Bericht: 14-05.
    DORA PSI
  • Densing M
    Stochastic programming of time-consistent extensions of AVaR
    SIAM Journal on Optimization. 2014; 24(3): 993-1010. https://doi.org/10.1137/130905046
    DORA PSI
  • Densing M
    Dispatch planning using newsvendor dual problems and occupation times: Application to hydropower
    European Journal of Operational Research. 2013; 228(2): 321-330. https://doi.org/10.1016/j.ejor.2013.01.033
    DORA PSI
  • Densing M
    Price-driven hydropower dispatch under uncertainty
    In: Kovacevic RM, Pflug GC, Vespucci MT, eds. Handbook of risk management in energy production and trading. International series in operations research & management science. Boston: Springer; 2013. https://doi.org/10.1007/978-1-4614-9035-7_4
    DORA PSI
  • Densing M, Turton H
    Conditions for the successful deployment of electric vehicles
    Presented at: 12th Swiss Transport Research Conference; 02-04 May 2012; Ascona, Switzerland.
    DORA PSI
  • Densing M, Turton H, Bäuml G
    Conditions for the successful deployment of electric vehicles - A global energy system perspective
    Energy. 2012; 47(1): 137-149. https://doi.org/10.1016/j.energy.2012.09.011
    DORA PSI
  • Densing M
    Multiperiod Stochastic Optimization Problems with Time-Consistent Risk Constraints
    In: Operations research proceedings 2011. ; 2012. https://doi.org/10.1007/978-3-642-29210-1_83
    DORA PSI
  • Densing M
    Occupation times of the Ornstein-Uhlenbeck process: Functional PCA and evidence from electricity prices
    Physica A: Statistical Mechanics and its Applications. 2012; 391(23): 5818-5826. https://doi.org/10.1016/j.physa.2012.07.040
    DORA PSI