PhD Scholarship in Energy Economics and Auction Design

DTU Management Engineering
Wednesday 27 Jun 18

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Apply no later than 22 July 2018
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In recent years, auction schemes for the allocation of support for renewable energy sources have been advancing rapidly across Europe. A variety of auction designs are still being tested and introduced. There is a need for further assessment and improvement of national auction applications to ensure the future success of RES auctions in Europe. One important aspect of auctions is their effect on financing and cost of capital in renewable energy investments.
The Energy Economics and Regulation group at DTU Management offers a position as PhD student in the area of energy economics.

The Energy Economics and Regulation group is part of the Systems Analysis Division, which is placed within the Department of Management Engineering at DTU. The division conducts basic and applied research within the area of energy system analysis, policy instruments, regulatory issues, energy demand, geography, economics, and climate science.

Responsibilities and tasks
We are looking for a PhD student who can contribute to analysis and implementation of future auction designs and regulatory initiatives for the promotion of renewable energies.
The PhD project will focus on energy policy analysis from a micro-economic perspective and will involve empirical data analysis, quantitative modelling as well as stakeholder interviews. The project will include methodological development on risk assessment approaches. The research will be embedded in a European research project and shall contribute to identifying auction elements that affect financing, and analyse related implications on market participants and stakeholders.

Your research focus in the PhD project will include:

  • Impact analysis of auctions on cost of capital, quality of project revenues and bankability of projects
  • WACC analysis for different countries in the EU
  • Cash-flow simulations
  • Integration of risk assessment in policy design processes
  • Case work on offshore wind auctions and technology-neutral auctions
The PhD student will have to make use of micro-economics and finance, incl. financial modelling, stochastic risk analysis, contract theory, game theory, as well as regulatory economics and policy analysis. Focus will be on quantitative methods which require solid modelling skills.

We are seeking candidates with a master's degree in economics, science or engineering, who have relevant experience in the area of the research topic of auctions and financing of energy projects.
We value knowledge sharing and cross-functionality. Therefore, you are expected to cooperate and be eager to build relations with colleagues in DTU Management Engineering, with other departments of DTU, and our international cooperation partners. In addition, you may expect to participate in research-based public sector services, teaching and other research projects.

Candidates should have a master's degree in economics, science or engineering or a similar degree with an academic level equivalent to the master's degree in engineering.

In addition to the above, the following further qualifications will be considered in the assessment:
  • Strong background and interest in sustainable energy and energy systems
  • Strong analytical background
  • Relevant financial modelling skills
  • Experience within energy policy analysis from an economic perspective
  • Experience with investment and financing of energy projects
  • A longer-term interest in pursuing a research career
  • Excellent writing and communication skills in English
  • Independent worker with good planning and project management skills
  • Ability to work in an interdisciplinary and international context

Approval and Enrolment
The scholarship for the PhD degree is subject to academic approval, and the candidate will be enrolled in one of the general degree programmes at DTU. For information about our enrolment requirements and the general planning of the PhD study programme, please see the DTU PhD Guide.

The PhD student will be selected through a competitive application process. Online applications will be screened against a set of criteria and a shortlist of candidates will be assessed in more detail by a technical committee, consisting of the supervisor team.

We offer
DTU is a leading technical university globally recognized for the excellence of its research, education, innovation and scientific advice. We offer a rewarding and challenging job in an international environment. We strive for academic excellence in an environment characterized by collegial respect and academic freedom tempered by responsibility.

Salary and appointment terms
The appointment will be based on the collective agreement with the Danish Confederation of Professional Associations. The allowance will be agreed upon with the relevant union. The period of employment is 3 years.

Systems Analysis Division, DTU Management Engineering, DTU, Produktionstorvet 426, 2800 Kgs. Lyngby, Denmark

You can read more about career paths at DTU here.

Further information
Further information may be obtained from Lena Kitzing, Researcher in Energy Economics and Regulation: +45 2465 9064 or from Klaus Skytte, head of Energy Economics and Regulation: +45 9351 1085.

You can read more about Systems Analysis Division on and about our most recent project on auction design on

Please submit your online application no later than 22 July 2018. Applications must be submitted as one pdf file containing all materials to be given consideration. To apply, please open the link "Apply online," fill in the online application form, and attach all your materials in English in one pdf file. The file must include:
  • A letter motivating the application (cover letter)
  • Curriculum vitae
  • Grade transcripts and BSc/MSc diploma
  • Excel sheet with translation of grades to the Danish grading system (see guidelines and Excel spreadsheet here)

Candidates may apply prior to obtaining their master's degree, but cannot begin before having received it.

All interested candidates irrespective of age, gender, race, disability, religion or ethnic background are encouraged to apply.

DTU Management Engineering contributes actively to the development of management tools and optimisation of processes by using and re-thinking theoretical engineering perspectives, models and methods. Through our research and teaching we ensure an innovative, competitive and sustainable organisation and use of technologies within areas such as energy and climate, transportation, production and health both domestic and abroad.

DTU is a technical university providing internationally leading research, education, innovation and scientific advice. Our staff of 6,000 advance science and technology to create innovative solutions that meet the demands of society, and our 11,200 students are being educated to address the technological challenges of the future. DTU is an independent academic university collaborating globally with business, industry, government and public agencies.