diff --git a/pyproject.toml b/pyproject.toml
index 44d6538d..109806b6 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -3,9 +3,9 @@
 
 [build-system]
 requires = [
-  "setuptools == 75.6.0",
-  "setuptools_scm[toml] == 8.1.0",
-  "frequenz-repo-config[lib] == 0.11.0",
+  "setuptools == 75.8.2",
+  "setuptools_scm[toml] == 8.2.0",
+  "frequenz-repo-config[lib] == 0.12.3",
 ]
 build-backend = "setuptools.build_meta"
 
@@ -49,10 +49,10 @@ email = "floss@frequenz.com"
 # TODO(cookiecutter): Remove and add more optional dependencies if appropriate
 [project.optional-dependencies]
 dev-flake8 = [
-  "flake8 == 7.1.1",
+  "flake8 == 7.1.2",
   "flake8-docstrings == 1.7.0",
   "flake8-pyproject == 1.2.3",  # For reading the flake8 config from pyproject.toml
-  "pydoclint == 0.5.9",
+  "pydoclint == 0.6.2",
   "pydocstyle == 6.3.0",
 ]
 dev-formatting = ["black == 24.10.0", "isort == 5.13.2"]
@@ -63,36 +63,36 @@ dev-mkdocs = [
   "mkdocs-gen-files == 0.5.0",
   "mkdocs-literate-nav == 0.6.1",
   "mkdocs-macros-plugin == 1.3.7",
-  "mkdocs-material == 9.5.47",
-  "mkdocstrings[python] == 0.27.0",
-  "mkdocstrings-python == 1.12.2",
-  "frequenz-repo-config[lib] == 0.11.0",
+  "mkdocs-material == 9.6.6",
+  "mkdocstrings[python] == 0.28.2",
+  "mkdocstrings-python == 1.16.2",
+  "frequenz-repo-config[lib] == 0.12.3",
 ]
 dev-mypy = [
-  "mypy == 1.13.0",
+  "mypy == 1.15.0",
   "grpc-stubs == 1.53.0.5",
-  "pandas-stubs == 2.2.2.240807",
+  "pandas-stubs == 2.2.3.241126",
   "types-Markdown == 3.7.0.20241204",
-  "types-protobuf == 5.28.3.20241030",
+  "types-protobuf == 5.29.1.20250208",
   # For checking the noxfile, docs/ script, and tests
   "frequenz-client-electricity-trading[dev-mkdocs,dev-noxfile,dev-pytest]",
 ]
 dev-noxfile = [
   "nox == 2024.10.9",
-  "frequenz-repo-config[lib] == 0.11.0",
+  "frequenz-repo-config[lib] == 0.12.3",
 ]
 dev-pylint = [
-  "pylint == 3.3.2",
+  "pylint == 3.3.4",
   # For checking the noxfile, docs/ script, and tests
   "frequenz-client-electricity-trading[dev-mkdocs,dev-noxfile,dev-pytest]",
 ]
 dev-pytest = [
   "pytest == 8.3.4",
-  "frequenz-repo-config[extra-lint-examples] == 0.11.0",
+  "frequenz-repo-config[extra-lint-examples] == 0.12.3",
   "pytest-mock == 3.14.0",
-  "pytest-asyncio == 0.24.0",
+  "pytest-asyncio == 0.25.3",
   "async-solipsism == 0.7",
-  "deepdiff == 8.0.1",
+  "deepdiff == 8.2.0",
 ]
 dev = [
   "frequenz-client-electricity-trading[dev-mkdocs,dev-flake8,dev-formatting,dev-mkdocs,dev-mypy,dev-noxfile,dev-pylint,dev-pytest]",