Search results for "electricity market"
showing 10 items of 49 documents
Pricing of electricity futures based on locational price differences : The case of Finland
2018
We find that the pricing of Finnish electricity market futures has been inefficient during the latest 10 years, when the trading volumes of Electricity Price Area Differentials (EPADs) have more than doubled. Even though the calculated futures premium on EPADs is related to some risk measures and the variables capturing the demand and supply conditions in the spot electricity markets, there has been a significant positive excess futures premium in the Finnish market, and financial market participants should have been able to utilize this also in economic terms. This finding is new and relevant for the participants of the Nordic electricity markets also in the future, because both the specul…
Daily air temperature and electricity load in Spain
2001
Abstract Weather has a significant impact on different sectors of the economy. One of the most sensitive is the electricity market, because power demand is linked to several weather variables, mainly the air temperature. This work analyzes the relationship between electricity load and daily air temperature in Spain, using a population-weighted temperature index. The electricity demand shows a significant trend due to socioeconomic factors, in addition to daily and monthly seasonal effects that have been taken into account to isolate the weather influence on electricity load. The results indicate that the relationship is nonlinear, showing a “comfort interval” of ±3°C around 18°C and two sat…
Economic impact of medium-scale battery storage systems in presence of flexible electricity tariffs for end-user applications
2012
This article addresses the question if it is cost-effective to use medium-scale battery storage systems for time-of-use (TMO) energy cost applications at a consumer level, assuming flexible electricity tariffs in the Italian electricity market. TMO application allows customers to reduce their electricity bill charging the storage when off-peak time periods are applied and discharge it during on-peak periods, when electricity energy prices are high. The analysis is carried out taking into account three different electrochemical storage technologies. The economical comparison shows that, at the current costs of storage technologies and at the electricity tariffs currently offered in Italy, th…
Energy market segmentation for distributed energy resources implementation purposes
2007
The new power market scene has made its actors aware of the importance of offering customers a set of products according to their specific needs. At the same time, a desirable massive deployment of distributed energy resources would require that the products be designed for specific purposes for each type of customer. For these reasons, it is essential to identify the energy behaviour of different customer segments existing in the electricity market. This paper presents a segmentation methodology that allows the identification of different types of customers in accordance with their energy use. This segmentation is conceptually different from the one that is currently performed by the utili…
The Southern African Power Pool: An Electrifying Project with Untapped Potential
2017
This chapter turns to infrastructure and gives an outstanding analysis of regional electricity cooperation in the SADC within the framework of the Southern African Power Pool (SAPP). The author illustrates the regional power imbalances in terms of national electricity generation and consumption which fuel the SADC countries’ demand for a regional electricity market and an interconnected regional power grid. It becomes clear that the SAPP’s institutional design is strongly influenced by South Africa as the hub of the existing power network and largest electricity producer. Influence by external actors is supportive of regional electricity cooperation since the EU provides funding for the SAP…
Evaluation of the Administrative Phase-Out of Coal Power Plants on the Italian Electricity Market
2020
Although decarbonisation is one of the most important macro-trends of this century, electricity generation from coal power plants is still broadly common. The main goal of this study is to evaluate the impact of a premature coal power plants phase-out on the Italian day-ahead electricity market. For this purpose, two electricity price forecasts, related to different scenarios between 2019 and 2030, and two different hypotheses for the creation of electricity spot price, were compared. The results from the different scenarios show that coal power plants phase-out determines a small variation in electricity price when bid-up is not considered
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…
New High Voltage Interconnections with Islands in the Mediterranean Sea: Malta and Sicily. Analysis of the Effects on Renewable Energy Sources Integr…
2018
The present paper shows the benefits coming from the operation of the recent electrical high voltage (HV) interconnections between Sicily, Malta and mainland Italy. These new interconnections allow zonal prices of electricity considerably lower than in the past, ensuring greater flexibility to the system and a better integration of Renewable Energy Sources (RES). After briefly illustrating the two high-voltage electrical systems (Sicily and Malta), and having provided a description of the interconnection cable with Malta and its protection devices, the authors hypothesized two modes of operation (Sicily-Malta system islanded or interconnected to the rest of Europe). For the first case (isla…
New dispatching strategy for the integration of active-demand and distributed storage in the electricity market
2015
The proliferation of Distributed Generation (DG) in power systems calls for a redesign of electricity network management, which should be able to accommodate large amounts of intermittent generation. This issue requires a discussion about the current dispatching regulation, giving distributed storage systems and qualified electricity consumption the opportunity to provide ancillary services to the distribution grid. In this work, a new dispatching strategy for the integration of active-demand and distributed storage in the Italian electricity market is presented. The strategy is focused on a distribution Smart Grid (SG), where customers can indirectly participate to the Day-Ahead (DA) and t…
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…