Electricity Markets: Theories and Applications

Lin, Jeremy; Magnago, Fernando

doi:10.1002/9781119179382

Cited by 31 publications

(16 citation statements)

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“…Microeconomic drivers include multiple aspects of corporate and consumer behavior. Factors from both areas can influence the SME’s business performance (Lopes et al 2017 ; Lin and Magnago 2017 ; Rusu and Roman 2016 ). One or more of these factors could be the causes of the problem that need further investigation.…”

Section: Research Questions and Hypothesesmentioning

confidence: 99%

Embedding Design Thinking Paradigm in a University’s Business Assistance to Small Business

Suci

Maryanti

Hardi

et al. 2021

Syst Pract Action Res

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Interest gaps exist between the university and the small firms when running a business assistance program, leading to the importance of practical guidance that could accommodate both partners’ interests. However, there is relatively little literature about how the university team should implement business assistance to a small partnering firm. Accordingly, this research used three stages and a mixed-method approach to solve the problem, involving qualitative and quantitative techniques and action research. This study introduced PROSEM, an acronym for problem rooting, solution treatment, and measurement, to guide university business assistance to small firms by adopting the design thinking paradigm. The results revealed a significant impact on the SME’s business performance. The PROSEM process further proved that a measurable and well-planned treatment based on the root causes could increase revenue and production volume and reduce the returned product rate. At the same time, this study enriches researchers’ knowledge and skills in developing the concept and guidelines of a systematic problem-solving method using unique, real cases in the small business community. As such, the PROSEM affirms that design thinking is an open and adjustable concept which can be embedded and modified in various problem-solving procedures.

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Section: Research Questions and Hypothesesmentioning

confidence: 99%

Embedding Design Thinking Paradigm in a University’s Business Assistance to Small Business

Suci

Maryanti

Hardi

et al. 2021

Syst Pract Action Res

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“…In Europe, this trading is operated on various different spot-markets such as the European Energy Exchange Power Spot (EPEX SPOT), which covers countries in Western and Central Europe. The resulting dispatch changes are commonly scheduled for discrete time intervals of one hour, 30 and 15 minutes [26], [27]. The mismatch between the step-like behaviour of the generation and the continuous behaviour of the load leads to regular frequency jumps at the beginning of these trading intervals [3], [5], [10].…”

Section: B Characteristics Of the Frequency Time Seriesmentioning

confidence: 99%

Predictability of Power Grid Frequency

2020

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The power grid frequency is the central observable in power system control, as it measures the balance of electrical supply and demand. A reliable frequency forecast can facilitate rapid control actions and may thus greatly improve power system stability. Here, we develop a weighted-nearestneighbour (WNN) predictor to investigate how predictable the frequency trajectories are. Our forecasts for up to one hour are more precise than averaged daily profiles and could increase the efficiency of frequency control actions. Furthermore, we gain an increased understanding of the specific properties of different synchronous areas by interpreting the optimal prediction parameters (number of nearest neighbours, the prediction horizon, etc.) in terms of the physical system. Finally, prediction errors indicate the occurrence of exceptional external perturbations. Overall, we provide a diagnostics tool and an accurate predictor of the power grid frequency time series, allowing better understanding of the underlying dynamics.

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“…Individual behaviors and interactions between entities lead to effects on the aggregated level of the total system. Pricing mechanisms in any electricity market are a critical foundation on which the entire electricity market is built [6].…”

Section: Electricity Market Modelingmentioning

confidence: 99%

A Trading Simulator Model for the Wholesale Electricity Market

Oprea

Bârã

Preoțescu³

et al. 2020

IEEE Access

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Currently, to meet the requirements of modern power systems as fully and efficiently as possible, the electricity markets have diversified greatly. Under these conditions, it becomes difficult for a producer to determine the structure of transactions that is financially optimal. Starting from the operational rules of the power systems that have shaped the electricity markets structure, the objective of this paper is to develop an electricity market simulator model that includes the basics of a best practice guide for producers that compete on various electricity markets to carry out the trading activities and enhance their financial results. The market simulator model considers both the bilateral long-or mid-term agreements and short-term offers on day-ahead, ancillary services and balancing markets providing the entire trading scenario and associated cash-flow and risks. Its significance consists in assisting the producer to plan its resources and create projections by performing multiple trading scenarios and selecting the best one. Thus, this paper proposes to uncover constraints and business rules for a simulator model assisting the market players to access the electricity markets and select the best option using Multiple-Criterial Decision-Making (MCDM) methods (Electre, Topsis, Analytical Hierarchy Process) or the weighted Euclidean distance. The simulations comprise four trading scenarios for different types of producers (gas or fossil-powered generators) generating 100 MW, that are ordered by independent criteria. The results obtained with MCDM and the proposed method showed that they indicated the same scenario as the best trading option based on the type of the producer. INDEX TERMS electricity market trading simulator, cost/revenue allocation, transaction risk.

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Electricity Markets: Theories and Applications

Cited by 31 publications

References 0 publications

Embedding Design Thinking Paradigm in a University’s Business Assistance to Small Business

Embedding Design Thinking Paradigm in a University’s Business Assistance to Small Business

Predictability of Power Grid Frequency

A Trading Simulator Model for the Wholesale Electricity Market

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