Reducing fossil fuel-based generation: Impact on wholesale electricity market prices in the North-Italy bidding zone

Flammini, Marco Giacomo; Prettico, Giuseppe; Mazza, Andrea; Chicco, Gianfranco

doi:10.1016/j.epsr.2021.107095

Cited by 10 publications

(5 citation statements)

References 37 publications

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“…The impact of fossil fuel prices on economic growth, environment sustainability, employment policy, healthcare expenditure, urban development, retailer businesses, and renewable fuel standard compliance cost save also been studied [16,17,18,19,20,21,22,23]. Some studies investigated and explored the impact of fuel prices on inventory policies, electricity markets, spatial interactions, welfare impacts, fuel markets and inflations [24,25,26,27,28,29,30]. However, the impacts of fuel prices on lifestyles and travel behaviors have not been widely studied.…”

Section: Introductionmentioning

confidence: 99%

The effect of rising prices of subsidized fuel on the use of private cars

Yosritzal,

Anisa,

Putri

2024

JIAE

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The rising fuel prices on September 3, 2022, are expected to reduce the use of private cars and increase the use of public transport. This expectation has raised optimism among public transport operators and is expected to encourage them to invest more. However, there is no evidence to support the expectation. Therefore, it is essential to study the effect of the fuel price on the use of a particular transport mode, thus motivating this study. This paper aims to investigate the impact of the rising costs of subsidized fuel on private cars. A Likert-scale type of questionnaire was used to collect data. The data was analyzed descriptively, and then a conclusion was made based on the results. The study found that the daily commute of respondents changed after fuel prices increased. Distance, duration, and frequency of travel tend to be reduced and prioritized over primary activities. To reduce travel costs, the respondents who usually use cars are more likely to use motorcycles than public transport. The findings of this study disprove that an increase in fuel prices would increase the use of public transport. Why is public transport less favoured compared to motorcycles? It seems that the quality of service provided by public transport fails to satisfy the consumers' needs.

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Section: Introductionmentioning

confidence: 99%

The effect of rising prices of subsidized fuel on the use of private cars

Yosritzal,

Anisa,

Putri

2024

JIAE

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“…Many economists have taken a keen interest in the underlying dynamics of energy prices. The relationship between carbon trading and macro-economy, electricity, automobile trading, energy conservation, and emission reduction has been studied a lot [ [15] , [16] , [17] , [18] ], but most models could only be adapted to economic forecasting in a certain period or only pay attention to the part of the correlation information, which is not comprehensive and stable enough.…”

Section: Introductionmentioning

confidence: 99%

DMEformer: A newly designed dynamic model ensemble transformer for crude oil futures prediction

Liu,

Ruan,

2023

Heliyon

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“…It proposes a theoretical formulation based on Markov, switching to predict the market price and showing how a generator entry might be affected. In [18], the generator output power is forecasted to be an indirect way for estimating the market price. It uses machine learning models and probability sampling for analyzing the Italian electricity market.…”

Section: Introductionmentioning

confidence: 99%

Management and Policy Modeling of the Market Using Artificial Intelligence

Fan

2022

Sustainability

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This paper investigates the market management and modeling based on advanced artificial intelligence. The proposed model deploys the combination of the support vector machine and fuzzy set theory to provide a practical and powerful prediction model for the market price over the next day. A realistic and effective model is then introduced to model the market players, such as the renewable energy sources of solar and wind turbines, as well as the fossil-fueled sources of micro turbines and fuel cells. In order to provide an optimal management program, it introduces a stochastic framework based on the point estimate method and adaptive grey wolf optimization algorithm (GWO). The proposed optimization methods use an adaptive strategy to choose the most fitting modification for enhancing the GWO performance. A realistic scenario is simulated to demonstrate the model’s effectiveness and impression on the real market management. The results clearly show the effectiveness of the prediction and management model. The prediction results show the superiority of the proposed model by RMSE of 2.9643 compared to the 3.217 for SVR, 3.2364 for ANN and 3.0621 for the grey model. Moreover, the optimal MAPE is 2.7453 by the proposed method, which is much better than the 3.052 by SVR, 3.1552 by ANN and 2.9285 by the grey model. From point of view of optimization, the most fitting power dispatch has been attained with the total cost of 300.8632 over 24 h.

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Reducing fossil fuel-based generation: Impact on wholesale electricity market prices in the North-Italy bidding zone

Cited by 10 publications

References 37 publications

The effect of rising prices of subsidized fuel on the use of private cars

The effect of rising prices of subsidized fuel on the use of private cars

DMEformer: A newly designed dynamic model ensemble transformer for crude oil futures prediction

Management and Policy Modeling of the Market Using Artificial Intelligence

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