Efficient representation of supply and demand curves on day-ahead electricity markets
نویسندگان
چکیده
We model the supply and demand curves of electricity day-ahead auctions in a parsimonious way by building an appropriate algorithm to present information about prices with far fewer parameters than existing algorithm. represent each curve using mesh-free interpolation techniques based on radial basis function approximation. describe results this method for IPEX spot price Italy then use these representations forecast find intersection predicted order obtain market clearing price.
منابع مشابه
Impacts of Premium Bounds on the Operation of Put Option and Day-ahead Electricity Markets
In this paper, the impacts of premium bounds of put option contracts on the operation of put option and day-ahead electricity markets are studied. To this end, first a comprehensive equilibrium model for a joint put option and day-ahead markets is presented. Interaction between put option and day-ahead markets, uncertainty in fuel price, impact of premium bounds, and elasticity of con...
متن کاملModeling and Detecting Bidding Anomalies in Day-ahead Electricity Markets
Virtual bids were introduced in U.S. wholesale electricity markets to exploit arbitrage opportunities arising from expected price differences between day-ahead and real-time energy markets. These financial instruments have interactions with other elements of the electricity market design. For instance, virtual bids could affect day-ahead market-clearing prices so as to enhance the value of Fina...
متن کاملAn empirically based model of the supply schedule in day-ahead electricity markets
The first part of this paper establishes some new pieces of evidence on the dynamics of prices and volumes in wholesale electricity day-ahead markets (NordPool, APX, Powernext). The growth of prices is more strongly autocorrelated than the growth of volumes; it is more more heavy-tailed; and its conditional standard deviation decays like the reciprocal of the price level (1/P scaling). In the s...
متن کاملConstructing Offering Curves for a CSP Producer in Day-ahead Electricity Markets
In many countries, the installation and operation of concentrated solar power plants has been promoted with high feed-in tariffs and other incentives. However, as this technology is becoming more mature and the installation costs are being reduced, the incentives are minimized or totally abolished. Under these new economic conditions, there is an increased need for operation planning and power ...
متن کاملDay-ahead Price Forecasting of Electricity Markets by a New Hybrid Forecast Method
Energy price forecast is the key information for generating companies to prepare their bids in the electricity markets. However, this forecasting problem is complex due to nonlinear, non-stationary, and time variant behavior of electricity price time series. Accordingly, in this paper a new strategy is proposed for electricity price forecast. The forecast strategy includes Wavelet Transform (WT...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The journal of energy markets
سال: 2021
ISSN: ['1756-3615', '1756-3607']
DOI: https://doi.org/10.21314/jem.2020.218