Expert-Driven Assessment of Sustainability for Electricity Market Changes

Abstract

Securing sustainable power systems requires understanding how regulatory frameworks and technological advancements interact with economic, social, environmental, and legal sustainability aspects. This study explores these relationships by analyzing expert opinions from academia, industry, and policy sectors from Europe and the Americas. The interview data is used to generate concept maps, revealing key interrelations and externalities within electricity markets. Additionally, Natural Language Processing (NLP) techniques, including cosine similarity metrics, quantifies the alignment between expert discussions and Key Performance Indicators (KPIs) for smart markets. The findings highlight the need to select specific KPIs for each sustainability dimension, including environmental impact, economic efficiency, social equity, and security of supply. This research demonstrates the value of integrating expert insights with advanced analytical methods to assess market transformations and support sustainable policy decisions.