Search results for "ELECTRICITY"
showing 10 items of 1225 documents
On the Non-Intrusive Load Monitoring in dwellings: a feasibility perspective
2021
The oncoming modernization process of the power grids, driven above all by decarbonisation objectives and the continuous improvement of digital technologies, is encouraging active participation in the electricity market by consumers through the Demand-Response mechanism. From this perspective, the introduction of smart meters and energy consumption monitoring devices plays a fundamental role, being able to give benefits to consumers, suppliers and the electricity grid itself. This paper proposes a supervised method of non-intrusive load monitoring (NILM) based on the recognition of patterns in the time domain with the Dynamic Time Warping algorithm which is suitable for low-cost smart meter…
The macroeconomic effects of electricity-sector privatization
2021
Abstract We examine the macroeconomic effects of privatizing the ownership structure of the electricity market, using a novel indicator of privatization which covers 90 advanced, emerging market, and developing economies, since 1974. Privatization reforms, on average, improve outcomes in the provision of electricity and have positive macroeconomic effects: output and employment increase in the years following electricity-sector privatization reforms. Reforms are also associated also with an increase in income inequality, but the effects are small, on average. These impacts vary according to the business cycle, quality of institutions, and a country's development status, with macroeconomic a…
Market efficiency and price discovery relationships between spot, futures and forward prices: the case of the Iberian Electricity Market (MIBEL)
2016
ABSTRACTThis paper analyses the relationships between prices from three different markets within the Spanish zone of the Iberian Electricity Market (MIBEL), namely futures, spot and over the counter (OTC) forward markets. The study focuses on three items: (i) contrasting the Weak-form efficiency hypothesis of the markets involved in the study, (ii) analysing the Semi-strong-form efficient market hypothesis (EMH) of the MIBEL futures market and (iii) examining the price discovery relationships between the series of prices of the considered markets.The empirical results confirm that 1-month-, 1-quarter-, 1-year-ahead futures and spot markets satisfy, generally, the Weak-form efficiency hypoth…
The energy communities in Greece
2020
Grecia ha dado un importante impulso a la Economía Social y Solidaria a partir de 2011 con la aprobación de diversas normas que regulan este sector. Entre otras, y siguiendo de cerca los trabajos llevados a cabo por las instituciones europeas, Grecia ha regulado por vez primera en Europa, las comunidades energéticas. Estas se definen como cooperativas civiles que tienen como objeto exclusivo promover la economía social y solidaria y la innovación en el sector energético; la lucha contra la pobreza energética y la promoción de la energía sostenible, la producción, almacenamiento, autoconsumo, distribución y suministro de energía; aumentar la autosuficiencia energética y la seguridad en los m…
Liquidity and dirty hedging in the Nordic electricity market
2012
Abstract Hedging involves tradeoffs in incomplete markets because the number of hedging instruments is limited. Even when an extensive set of hedging instruments is available, the ease with which these instruments can be traded may be highly variable. This study finds systematic variations in liquidity in different segments of the Nordic electricity swap market and analyzes the potential for replacing low-liquidity, delivery-period-matched hedging instruments with more liquid, delivery-period-mismatched hedging instruments. When the costs of implementing such dirty hedging strategies are lower than those of the replaced hedging instruments and the loss of hedge effectiveness is small, dirty…
Renewable electricity producing technologies and metal depletion: A sensitivity analysis using the EROI
2015
International audience; More and more attention is being paid to renewable technologies because they are seen as a great opportunity to disengage our society from its dependence on fossil fuels. Such flow-based energy resources that rely on solarenergy are supposed to lead us toward a sustainable energy future. However, because of their high capitalintensity, renewable technologies require large amounts of matter, including both common and rare metals.These metals require energy for their production, and more specifically for their extraction. The energy costassociated with metal extraction is linked to mineral ore grade, meaning that as depletion progresses, energycost increases. In additi…
On the risk premium in Nordic electricity futures prices
2011
Abstract This paper examines empirically the relationship between electricity spot and futures prices, by analysing a decade of data for a set of short term-to-maturity futures contracts traded in the Nordic Power Exchange. It is found that, on average, there are significant positive risk premiums in short-term electricity futures prices. The significance and size of the premiums, however, varies seasonally over the year; whereas it is greatest during winter, it is zero in summer. It is also found that time-varying risk premiums are significantly related to unexpectedly low reservoir levels. Furthermore, before the unprecedented supply-shock that hit the market around the end of year 2002, …
Modeling Term Structure Dynamics in the Nordic Electricity Swap Market
2010
We analyze the daily returns of Nordic electricity swaps and identify significant risk premia in the short end of the market. On average, long positions in this part of the swap market yield negative returns. The daily returns are distinctively non-normal in terms of tail-fatness, but we find little evidence of asymmetry. We investigate if the flexible four-parameter class of normal inverse Gaussian (NIG) distributions can capture the observed stylized facts and find that this class of distributions offers a remarkably improved fit relative to the normal distribution. We also compare the fit with that of the four-parameter class of stable distributions; the NIG law outperforms the stable la…
Temperature and seasonality influences on Spanish electricity load
2002
Abstract Deregulation of the Spanish electricity market in 1998 and the possible listing of electricity or weather derivative contracts have encouraged the study of the relationship between electricity demand and weather in Spain. In this paper, a transfer function intervention model is developed for forecasting daily electricity load from cooling and heating degree–days. The influence of weather and seasonality is proved, and is significant even when the autoregressive effects and the dynamic specification of the temperature are taken into account. The estimated general model shows a high predictive power. The results and information presented in this paper could be of interest for current…
Analysis and design of bi-directional DC-DC converters for ultracapacitors management in EVs
2018
The on-board energy-storage system of an electric vehicle (EV) should be able to collect large amounts of energy and to deal with fast load variations. The use of hybrid power sources as storage devices is an attractive solution, aiming at maximizing both energy and power density. The battery/ultracapacitors (UCs) combination promises to provide significant benefits. An accurate design of bi-directional converters, capable of proplery managing the charge/discharge of the UCs from/to a voltage bus, is essential. In this paper, a bi-directional DC-DC converter connected to a bank of UCs is described and the simulation results are given as well. The designed converter is a buck-boost type, abl…