Electricity price forecasting is becoming more important in everyday business of power utilities. Good forecasting models can increase effectiveness of producers and buyers playing roles in electricity market. Price is also a very important element in investment planning process. This paper presents a forecasting technique to model day-ahead spot price using well known ARIMA model to analyze an...

Regardless of the form of restructuring, deregulated electricity industries share one common feature: the absence of any significant, rapid demand-side response to the wholesale (or, spot market) price. For a variety of reasons, electricity industries continue to charge most consumers an average cost based on regulated retail tariff from the era of vertical integration, even as the retailers th...

Combined cooling, heating, and power (CCHP) systems produce electricity, cooling, and heat due to their high efficiency and low emission. These systems have been widely applied in various building types, such as offices, hotels, hospitals and malls. In this paper, an economic and technical analysis to determine the size and operation of the required gas engine for specific electricity, cooling, ...

abstract in this study, we applied recently developed panel unit root and cointegration techniques to examine the long-run real income per capita and price elasticities for demand of electricity in selected middle east and north african (mena) countries using an annual data series from 1990 to 2011.our main finding from the panel analysis is that the demand for electricity is highly price elast...

" …the price of electricity was found to be a significant determinant of electricity demand in most cases with the expected inverse relationship (higher prices mean less consumption).The results provided no evidence that the responsiveness of Ontario industrial demand to the price of electricity during time periods when demand is the strongest has strengthened since market opening except, perha...

Electricity price predictions have become a major discussion on competitive market under deregulated power system. But, the exclusive characteristics of electricity price such as non-linearity, non-stationary and time-varying volatility structure present several challenges for this task. In this paper, a new forecast strategy based on the iterative neural network is proposed for Day-ahead price...

Regardless of the form of restructuring, deregulated electricity industries share one common feature: the absence of any significant, rapid demand-side response to the wholesale (or, spot market) price. For a variety of reasons, most electricity consumers still pay an average cost based regulated retail tariff held over from the era of vertical integration, even as the retailers themselves are ...

In the electricity market, spark-spread options are increasingly used for hedging purposes and for valuing natural gas power plants. A spark-spread option gives the buyer the right but not the obligation to buy the price difference between electricity and natural gas adjusted for power plant efficiency. Pricing these options requires stochastic process models for the electricity price and the g...

In this paper we demonstrate the efficacy of a stochastic modelling approach involving both diffusion and a jump processes to describe the evolution of spot electricity prices in New South Wales. The model allows a deterministic time trend component and an unobserved process driven by both time varying volatility and occasional jumps. The structure allows us to cast the problem in a state space...