Search results for "Hourly electricity price"
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Economic feasibility of a customer-side energy storage in the Italian electricity market
2015
Electricity prices show significant short-term variations during the day due to the need of balancing supply and demand in real time. Normally, customers are not exposed to these variations but pay a constant electricity price. In an attempt to reduce the volatility of the wholesale prices, several utilities are moving from conventional fixed-rate pricing schemes to new market-based models, where the electricity price can fluctuate during the day depending on the market conditions. Examples of time-dependent pricing schemes are Time-Of-Use (TOU) tariffs, where the electricity price can take two or three price levels during the day, or Real-Time Pricing (RTP) tariffs, where the energy price …
A Simple Operating Strategy of Small-Scale Battery Energy Storages for Energy Arbitrage under Dynamic Pricing Tariffs
2015
Price arbitrage involves taking advantage of an electricity price difference, storing electricity during low-prices times, and selling it back to the grid during high-prices periods. This strategy can be exploited by customers in presence of dynamic pricing schemes, such as hourly electricity prices, where the customer electricity cost may vary at any hour of day, and power consumption can be managed in a more flexible and economical manner, taking advantage of the price differential. Instead of modifying their energy consumption, customers can install storage systems to reduce their electricity bill, shifting the energy consumption from on-peak to off-peak hours. This paper develops a deta…