Pricing options on electrical power is important because of the worldwide trend toward deregulated electricity markets. It is fascinating because of the exotic nature of most power derivatives and because of the many unique features of electricity markets. One of these unique features is that electrical power cannot, in appreciable quantities, be stored. While this plays havoc with arbitrage-fr...

With the aim of reducing cost of electricity consumption and peak load reduction, tools requirement for better managing electricity consumption have become inevitable in recent years. Smart home has some equipment which are controllable and this ability is used for increasing comfort and minimizing electricity cost for residence. As a key component of smart home , Electric Vehicle(EV) ,increase...

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...

Dynamic partial adjustment models of residential electricity demand account for the fact that households may not adjust electricity consumption immediately in response to changes in prices, income, and other relevant factors, because of behavioral habits or adjustment costs for the capital stock of appliances. However, forward-looking behavior is generally neglected. Expectations about future p...

In Australia, as electricity prices have increased, driven mainly by increases in peak demand, electricity use has decreased every year since 2008/09. The factors most responsible for these decreases include increased electricity costs, energy efficiency, solar water heaters and photovoltaics. Further increases in electricity prices and uptake of these technologies could result in further reduc...

This paper proposed a novel model for short term load forecast (STLF) in the electricity market. The prior electricity demand data are treated as time series. The model is composed of several neural networks whose data are processed using a wavelet technique. The model is created in the form of a simulation program written with MATLAB. The load data are treated as time series data. They are dec...

A major cause for many of the problems that have afflicted wholesale electricity markets is the unrealized potential for the demand-side to be a full participant. Ironically, when Fred Schweppe first envisioned an electricity market in which prices efficiently coordinated the actions of market participants, he focused on the potential for improved efficiency in power consumption, not generation...

Prior to the deregulation trend, electricity prices were highly regulated and were usually fairly predictable generators and wholesalers knew their production costs and revenues, and consumers knew their electricity costs. However, deregulation has caused electricity to become the most volatile of the commodities. Not only is the demand for electricity highly variable, but the inability to stor...