Energy market simulation for students and practitioners
- 03.05.2023
- General
In the Energy Next workshop, 45 participants led eight fictitious companies to success.
In the Energy Next workshop, participants simulated the energy market in a virtual planning game. Students from the University of Applied Sciences Kufstein Tirol and employees of partner companies steered fictitious companies to success.
During a workshop, participants simulated trading mechanisms in the energy industry from different perspectives and in different phases from a company perspective. The business game Energy Next from ProAccom GmbH served as a basis. Participants included students from the Bachelor's and Master's degree programs in Energy & Sustainability Management together with employees from partner companies in the energy industry, Energie Südbayern GmbH, TIWAG, Elektrizitätswerke Reutte AG, Stadtwerke Wörgl GmbH, Stadtwerke Kufstein GmbH and Stadtwerke Dorfen GmbH.
EIGHT FICTITIOUS COMPANIES IN COMPETITION
The participants, divided into eight fictitious companies, took on various roles from the value chain – power plant operation, energy trading and sales. Over a period of 15 years, the participants developed strategies for their companies and then implemented them in competition and under the conditions of the regulatory and economic environment.
This included lobbying and negotiating credit terms for new investments in power plants to ensure the survival and growth of the companies. Equally important were generation and sales planning, as well as the development of sales strategies to maintain target group satisfaction.
EVENT SIMULATES REAL SITUATION
The simulation game has been an integral part of the curriculum at the University of Applied Sciences Kufstein Tirol for many years. The simulation game enables participants to experience the complex processes and interactions of the energy market and politics in a realistic way. The core tasks lie in power plant operation, the decommissioning of fossil fuel power plants and the expansion of renewable energies, electricity trading, negotiations with government and banks, and customer acquisition.
Two trainers from ProAccom GmbH coached the energy market simulation as experts and supported the participant groups in conducting the simulation. Financial support came from the companies Energie Südbayern GmbH, TIWAG, Elektrizitätswerke Reutte AG, Stadtwerke Wörgl GmbH, Stadtwerke Kufstein and Stadtwerke Dorfen GmbH.