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Filippos Ioannidis, Kyriaki Kosmidou, Kostas Andriosopoulos and Antigoni Everkiadi
The European Union Target Model aims to integrate European energy market by removing barriers to trade and align markets. The most important goals of the Target Model are to provide consistent prices, enhance liquidity, support cross boarder trading, fac...
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Huiru Zhao, Yuwei Wang, Sen Guo, Mingrui Zhao and Chao Zhang
An important goal of China?s electric power system reform is to create a double-side day-ahead wholesale electricity market in the future, where the suppliers (represented by GenCOs) and demanders (represented by DisCOs) compete simultaneously with each ...
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Emilio Ghiani, Marco Galici, Mario Mureddu and Fabrizio Pilo
At the moment of writing, in Italy, there is an ongoing pandemic of coronavirus disease 2019 (COVID-19), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). Its outbreak is leading to severe global socioeconomic disruptions impacting ...
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Orhan Altug Karabiber and George Xydis
In this paper day-ahead electricity price forecasting for the Denmark-West region is realized with a 24 h forecasting range. The forecasting is done for 212 days from the beginning of 2017 and past data from 2016 is used. For forecasting, Autoregressive ...
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Zora Luburic, Hrvoje Pand?ic and Tomislav Plav?ic
The aim of this paper is to compare the operational pattern of an energy storage system (ESS) in a vertically-integrated utility and in a deregulated market environment for different levels of wind integration. As the main feature of a vertically-integra...
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Cristina Ballester and Dolores Furió
The change in the generation mix from conventional electricity sources to renewables has important implications for bidding behaviour and may have an impact on prices. The main goal of this work is to discover the role played by expected wind production,...
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Agustín A. Sánchez de la Nieta, Virginia González and Javier Contreras
Deregulated electricity markets encourage firms to compete, making the development of renewable energy easier. An ordinary parameter of electricity markets is the electricity market price, mainly the day-ahead electricity market price. This paper describ...
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Haifeng Zhang, Feng Gao, Jiang Wu, Kun Liu and Xiaolin Liu
Wind Power Producers (WPPs) seek to maximize profit and minimize the imbalance costs when bidding into the day-ahead market, but uncertainties in the hourly available wind and forecasting errors make the bidding risky. This paper assumes that hourly wind...
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Haifeng Zhang, Feng Gao, Jiang Wu, Kun Liu and Xiaolin Liu
Wind Power Producers (WPPs) seek to maximize profit and minimize the imbalance costs when bidding into the day-ahead market, but uncertainties in the hourly available wind and forecasting errors make the bidding risky. This paper assumes that hourly wind...
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Hasnain Iftikhar, Josue E. Turpo-Chaparro, Paulo Canas Rodrigues and Javier Linkolk López-Gonzales
Over the last 30 years, day-ahead electricity price forecasts have been critical to public and private decision-making. This importance has increased since the global wave of deregulation and liberalization in the energy sector at the end of the 1990s. G...
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Claudio Monteiro, L. Alfredo Fernandez-Jimenez and Ignacio J. Ramirez-Rosado
This paper presents the analysis of the importance of a set of explanatory (input) variables for the day-ahead price forecast in the Iberian Electricity Market (MIBEL). The available input variables include extensive hourly time series records of weather...
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Nika Nizharadze, Arash Farokhi Soofi and Saeed Manshadi
Predicting the price gap between the day-ahead Market (DAM) and the real-time Market (RTM) plays a vital role in the convergence bidding mechanism of Independent System Operators (ISOs) in wholesale electricity markets. This paper presents a model to pre...
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Christopher Kath, Weronika Nitka, Tomasz Serafin, Tomasz Weron, Przemyslaw Zaleski and Rafal Weron
Motivated by a practical problem faced by an energy trading company in Poland, we investigate the profitability of balancing intermittent generation from renewable energy sources (RES). We consider a company that buys electricity generated by a pool of w...
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Huiru Zhao, Yuwei Wang, Mingrui Zhao, Qingkun Tan and Sen Guo
In this paper, considering real time wind power uncertainties, the strategic behaviors of wind power producers adopting two different bidding modes in day-ahead electricity market is modeled and experimentally compared. These two different bidding modes ...
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Ima O. Essiet and Yanxia Sun
This paper examines the role of demand response aggregators in minimizing the cost of electricity generation by distribution utilities in a day-ahead electricity market. In this paper, 2500 standard South African homes are considered as end users. Five c...
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Ryusuke Konishi, Akiko Takeda and Masaki Takahashi
In deregulated electricity markets, minimizing the procurement costs of electricity is a critical problem for procurement agencies (PAs). However, uncertainty is inevitable for PAs and includes multiple factors such as market prices, photovoltaic system ...
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Hasnain Iftikhar, Josue E. Turpo-Chaparro, Paulo Canas Rodrigues and Javier Linkolk López-Gonzales
In the present liberalized energy markets, electricity demand forecasting is critical for planning of generation capacity and required resources. An accurate and efficient electricity demand forecast can reduce the risk of power outages and excessive pow...
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Rishikesh Joshi, Michiel Kruijff and Roland Schmehl
In the current auction-based electricity market, the design of utility-scale renewable energy systems has traditionally been driven by the levelised cost of energy (LCoE). However, the market is gradually moving towards a subsidy-free era, which will exp...
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Stephen Haben, Julien Caudron and Jake Verma
The energy sector is moving towards a low-carbon, decentralised, and smarter network. The increased uptake of distributed renewable energy and cheaper storage devices provide opportunities for new local energy markets. These local energy markets will req...
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Radhakrishnan Angamuthu Chinnathambi, Anupam Mukherjee, Mitch Campion, Hossein Salehfar, Timothy M. Hansen, Jeremy Lin and Prakash Ranganathan
Forecasting hourly spot prices for real-time electricity markets is a key activity in economic and energy trading operations. This paper proposes a novel two-stage approach that uses a combination of Auto-Regressive Integrated Moving Average (ARIMA) with...
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