Forecasting of electricity demand has assumed a lot of importance to provide sustainable solutions to the electricity problems. LEAP has been used to forecast electricity demand for the target year 2030, for the state of Maharashtra (India). Holt’s exponential smoothing method has been used to arrive at suitable growth rates. Probable projections have been generated using uniform gross domestic...

In the last decade some countries decided to undertake a deregulation process of the electricity sector in order to bring competition to the previously monopolistic market. In all those countries electricity is now a traded commodity and its price is determined according to the rule of supply and demand. The empirical analysis reveals that market prices are variable and unpredictable with jumps...

The increase in energy prices combined with the environmental impact of energy production has made energy efficiency a key component towards the development of smart homes. An efficient energy management strategy for smart homes results in minimized electricity consumption leading to cost savings. Towards this goal, we investigate the impact of environmental factors on home energy consumption. ...

We consider a two-stage generation scheduling problem comprising forward dispatch and real-time re-dispatch. The former must be conducted facing an uncertain net demand that includes non-dispatchable electricity consumption renewable power generation. latter copes with the plausible deviations respect to schedule by making use of balancing during actual operation system. Standard industry pract...

In today’s liberalized electricity markets, modeling and forecasting demand data are highly important for the effective management of power system. However, is a challenging task due to specific features it exhibits. These include presence extreme values, spikes or jumps, multiple periodicities, long trend, bank holiday effect. addition, forecasts required complete day as decided before physica...

As the transition to wind and solar progresses, the integration of renewable energy sources makes electricity production increasingly fluctuating, also causing volatility in electricity prices on energy markets. In order to guarantee power grid stability, utilities need to balance volatile supply through shifting demand. This measure of demand side management creates flexibility, being enabled ...

Electricity is one of the most important sources for economic and social development of a country. The growth in energy consumption is basically linked with the growth in economy. Energy demand increases due to different reasons, including higher Gross Domestic Product (GDP) growth, higher per capita consumption, the population growth and rapid development of industrial & commercial sectors. In...