Since the early 1990s, an increasing number of countries worldwide have liberalized their electricity power sectors. Contrary to before, when power sectors were not open to competition and prices were set by regulators according to the cost of generation, transmission and distribution, electricity prices are now determined by an equilibrium of supply and demand. On one hand, electricity contrac...

In most real options models for evaluating power plants, it is assumed that the price fluctuates stochastically such as a geometric Brownian motion. In actual electricity market, the prices are determined by supply and demand, and the supply and demand balance may cause the price spike. Especially, the supply characteristics, which depend on the type and number of power plants in electricity ma...

The development of smart grids makes possible the introduction of dynamic electricity rates, with prices changing each hour. Dynamic rates can reflect the temporal dependency of supply and demand for electrical power and network capacity, thus avoiding load peaks and promoting the use of fluctuating renewable energy sources. We present a simulation model that studies the electricity demand for ...

Although many studies of electricity generation use national or state average generation mix assumptions, in reality a great deal of electricity is transferred between states with very different mixes of fossil and renewable fuels, and using the average numbers could result in incorrect conclusions in these studies. We create electricity consumption profiles for each state and for key industry ...

This article focuses on the electricity industry and electricity consumption of population and industrial enterprises in Russia is analyzed. Economic factors that affect energy consumption are studied by the Vector Autoregression Analysis (VAR). The relationship between variables is defined by Granger test, and it also considers scenarios of reactions of electricity consumption on exogenous sho...

We use survey data for 139,517 individuals in 26 European Countries, 2002-2011, to estimate the relationship between subjective well-being (SWB) and production shares of various types of electricity generation. The estimated relationships are taken to represent preference relationships over attributes of electricity supply systems (costs, safety, environmental friendliness etc.). Controlling fo...

Dynamic resource supply is a complex issue to resolve in a cyber-physical system (CPS). In our previous work, a resource model called the dynamic resource supply model (DRSM) has been proposed to handle resources specification, management and allocation in CPS. In this paper, we are integrating the DRSM with service-oriented architecture and applying it to a smart grid (SG), one of the most com...

industrial energy consumption lies between 30% and 70% of the total energy consumed in selected countries. cement production is one of the most energy intensive industries all around the world. this paper deals with an energy audit analysis in a cement plant in iran. in all recent works, after performing an energy audit, different strategies are offered to reduce energy losses. generally, these...