Abstract
Since the liberalization and deregulation of the electricity markets throughout the world are in full swing, the number of market participants, as well as their diversity, is sharply increasing. In the traditional monopolistic market model, all the processes that occur in a power system have been supervised by vertically integrated companies. Since market logic is changing from that oriented toward minimizing generation costs for electrical energy to the trend of maximizing profit, the risk is being distributed among all the market participants uniformly and is no longer entirely borne by the final consumers. Under such uncertain conditions, in which the prices of electrical energy change from hour to hour, each market participant wants a reliable tool to facilitate optimal and quality decisions and strategic performance.
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