PhD position / Early-Stage Researcher (R1) in AI and Electricity Price Forecasting

About PHAETHON CoE

The PHAETHON Centre of Excellence (CoE) at the University of Cyprus is a rapidly growing European research hub in intelligent, efficient and sustainable energy systems.

Established under the EU “Teaming for Excellence” programme, PHAETHON collaborates strategically with internationally recognised institutions including:

Technical University of Denmark (DTU).

University of Groningen (UG).

Through these partnerships, selected PhD candidates have the opportunity to pursue a joint or co-supervised PhD degree, benefiting from the academic excellence, international reputation, and research infrastructure of these leading European universities.

The Centre develops cutting-edge research in renewable energy systems, smart grids, energy storage, artificial intelligence for energy, and digital energy systems, contributing to Europe’s transition toward climate neutrality. PHAETHON provides a dynamic and international research environment, with strong links to industry, European research projects, and emerging energy innovation ecosystems.

Position Overview

This Early-Stage Researcher (R1) position is intended for highly motivated graduates who wish to pursue a PhD at the intersection of artificial intelligence and electricity-market economics. The successful candidate will work towards a doctoral degree on short-term electricity price forecasting, combining advanced machine-learning methods with an economic understanding of how prices are formed in liberalised electricity markets. Electricity prices are becoming increasingly volatile, with abrupt movements, extreme spikes and negative prices driven by renewable generation, demand, fuel and carbon costs, and market design. Beyond forecasting accuracy, the research will assess the economic value of improved forecasts for market participants, consumers and system operators. The researcher will work within a multidisciplinary team addressing energy transition challenges, while receiving structured doctoral training and supervision in a supportive academic environment

Research Areas

Candidates are encouraged to apply if their background or interests relate to one or more of the following areas:

• Electricity markets (Day-Ahead, Intraday and Balancing);
• Energy economics and electricity price formation;
• Electricity market design and regulation;
• Impact of renewable energy integration on electricity prices;
• Price volatility, extreme price events and negative prices;
• Electricity price forecasting;
• Machine learning and deep learning, including Transformer-based models;
• Time-series analysis and econometrics;
• Trading, bidding strategies and risk management in electricity markets;
• Economic valuation of flexibility, energy storage and demand response

What the PhD Covers

The fully funded PhD includes:

• Monthly financial support corresponding to a gross annual rate of €18,000–€30,000, including the 13th salary, for a full-time position (residency in Cyprus is required).
• Coverage of PhD tuition fees for up to four years, corresponding to the standard period of PhD completion.
• Research support and access to state-of-the-art laboratory infrastructure.
• Opportunities for funded mobility and research visits to Technical University of Denmark and/or University of Groningen.
• Participation in international conferences and scientific training.

Key Responsibilities

• Conduct doctoral research leading to a PhD thesis, within European and nationally funded projects;
• Develop artificial intelligence models for short-term electricity price forecasting, including the classification of negative, normal and extreme price regimes;
• Analyse the economic drivers of electricity prices, such as renewable generation, demand, fuel and carbon prices, and market rules;
• Evaluate the economic value of forecasts for market participants, for example in bidding, trading, storage operation and risk management;
• Collect, process and analyse electricity-market, weather and economic data;
• Prepare scientific publications in international peer-reviewed journals and conferences;
• Present research findings at scientific conferences and project meetings;
• Collaborate with academic and industrial partners across Europe;
• Contribute to research proposals, dissemination, open science practices and research impact activities;
• Support VET programmes and related educational activities, as appropriate

Career Development

• Mentorship and supervision by internationally recognised senior researchers.
• Opportunities to develop academic, professional and transferable skills.
• Progression pathway to Recognised Researcher (R2).
• Participation in national and European research networks.

Required Qualifications

• Honours Degree in Engineering, Economics, Data Science, Applied Mathematics, Statistics or a closely related field;
• Good programming skills in Python and/or MATLAB;
• Basic knowledge of machine learning, time-series analysis or econometrics;
• Fluency in English (written and spoken).

Desirable Skills and Experience

The following will be considered an advantage but are not mandatory:

• Coursework or experience in energy economics, electricity markets or microeconomics;
• Experience with deep-learning frameworks (e.g., PyTorch, TensorFlow or similar tools);
• Knowledge of statistical and econometric methods for time-series data;
• Experience in handling and analysing large datasets;
• Prior research experience (e.g., a Master’s thesis or publication) in a related area;
• Strong analytical and problem-solving skills;
• Excellent communication skills and ability to work in multidisciplinary teams;

Conditional Offer

The award of the PHAETHON PhD Studentship is conditional upon formal admission and enrolment in a PhD programme at the University of Cyprus (UCY).

Selected candidates must submit a separate application to the relevant UCY PhD programme through the UCY Graduate School and satisfy all applicable academic admission requirements.

The successful candidate is expected to commence the PhD programme during the January intake. Applicants must therefore ensure that they apply within the relevant UCY application period and comply with all applicable deadlines. The studentship will be activated only upon official confirmation of admission and enrolment.

Application Documents

Interested candidates should submit:

• Letter of motivation (including proposed research interests)
• Full CV
• Copies of Bachelor’s degrees and transcripts
• Contact details of two academic referees
• Any relevant publications (where available)

Application Deadline

Friday 20th of November 2026

If you have previously applied for any position at PHAETHON CoE, a new application is required. Screening of applications will begin immediately after this deadline.

Equal Opportunities & Data Protection

PHAETHON CoE is an Equal Opportunities Employer and encourages applications regardless of gender, nationality, or background.

All personal data will be processed in accordance with the EU General Data Protection Regulation (EU 2016/679).

Apply online