Open-Source Market Model

This innovative project aims to develop an open-source market model that empowers external stakeholders to conduct their own sensitivity analyses. By exclusively using data and code from the public domain, the model will complement NESO reports without replacing proprietary models and data. The project will begin with a comprehensive review of existing open-source models over three months, followed by the development of an initial prototype in six months. The final release will provide a robust and scalable model. The primary challenge lies in producing reliable results without access to commercially sensitive data, but this also presents an opportunity to showcase the potential of open-source solutions in data-driven decision-making. 

Benefits

By releasing open-source supplements, NESO aims to improve transparency in its decision-making, which will build trust with stakeholders and the public. The project encourages early and ongoing engagement with the supply chain and other stakeholders, fostering collaboration on infrastructure projects. Making data more accessible will allow more stakeholders to participate in energy planning. Open-source models will be useful for educational institutions and researchers, promoting innovation in energy infrastructure. Successfully implementing this project will boost NESO’s reputation as a transparent and forward-thinking organisation. 

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