Abstract
The main objective of electricity regulators when establishing electricity markets is to decrease the cost of electricity through competition. However, this scenario cannot be achieved without the full participation of the electricity demand. The aim of this paper is to propose a procedure, through the detection of electricity-price patterns based on what happened in the energy markets the previous day, which could help customers and aggregators to take decisions in electricity markets. In this way, the capacity of a methodology (statistical Ward's linkage) to classify and forecast high electricity market prices is analyzed. Besides, some price-patterns were found in the abovementioned clusters. The knowledge contained within these patterns supplies customers with market-based information on which to focus its energy use decision to improve the usefulness of demand response Initiatives. (7 pages)
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
