When electricity becomes deregulated the price of electricity is not determined by a regulatory authority but by market demand and supply conditions. Electricity cannot be stored and needs to be produced at the same rate at which it is produced. Thus, if any of the cheaper generating units fails a more expensive unit needs to be brought into operation in order to meet the demand. This increased...

Standard methods for forecasting electricity loads are not robust to cyberattacks on demand data, potentially leading severe consequences such as major economic loss or a system blackout. Methods required that can handle under these conditions and detect outliers would otherwise go unnoticed. The key challenge is remove many possible while maintaining enough clean data use in the regression. In...

We describe a method to generate statistical models of electricity demand from Commercial and Industrial (C&I) facilities including their response to dynamic pricing signals. Models are built with historical electricity demand data. A facility model is the sum of a baseline demand model and a residual demand model; the latter quantifies deviations from the baseline model due to dynamic pricing ...

We consider interruptible electricity contracts issued by a distributor of electricity, that allow for interruptions to electric service in exchange for either an overall reduction in the price of electricity delivered, or for financial compensation at the time of interruption. We provide an equilibrium model to determine electricity prices, based on stochastic models of supply and demand. In t...

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 current economic, resource and carbon constrained climate, it is imperative that power distribution companies invest in only necessary network augmentation. However, with electricity demand growth over recent years doubling the electricity consumption growth, capital expenditure is following in a similar fashion relative to operational expenditure [1]. The need for greater infrastructure...

Remarkably higher expected shares of variable renewable energy sources for electricity generation (RES-Electricity) than those available today will be a great challenge for the European power system. Bulk electricity storage technologies— that is, pumped hydro energy storage—are considered a key component while facing these future challenges. The conducted analysis is based on the modeling resu...