Related papers: Efficient Modeling and Forecasting of the Electric…
Security of supply is a common and important concern when integrating renewables in net-zero power systems. Extreme weather affects both demand and supply leading to power system stress; in Europe this stress spreads continentally beyond…
Wind energy has emerged as one of the most vital and economically viable forms of renewable energy. The integration of wind energy sources into power grids across the globe has been increasing substantially, largely due to the higher levels…
Solar based electricity generations have experienced strong and impactful growth in recent years. The regulation, scheduling, dispatching, and unit commitment of intermittent solar power is dependent on the accuracy of the forecasting…
The ambitious CO2 emission targets of the Paris agreements are achievable only with renewable energy, CO2-free power generation, new policies, and planning. The main motivation of this paper is that future green fuels from power-to-X assets…
Large-scale renewable energy deployment introduces pronounced volatility into the electricity system, turning grid operation into a complex stochastic optimization problem. Accurate electricity price forecasting (EPF) is essential not only…
Electricity market operators worldwide use mixed-integer linear programming to solve the allocation problem in wholesale electricity markets. Prices are typically determined based on the duals of relaxed versions of this optimization…
In this paper we formulate of the Economic Dispatch (ED) problem in Power Systems in continuous time and include in it ramping constraints to derive an expression of the price that reflects some important inter-temporal constraints of the…
The average revenue, or market value, of wind and solar energy tends to fall with increasing market shares, as is now evident across European electricity markets. At the same time, these markets have become more interconnected. In this…
In this paper, we propose a complete modelling framework to value several batteries in the electricity intraday market at the trading session scale. The model consists of a stochastic model for the 24 mid-prices (one price per delivery…
We conduct an extensive empirical study on short-term electricity price forecasting (EPF) to address the long-standing question if the optimal model structure for EPF is univariate or multivariate. We provide evidence that despite a minor…
The large-scale deployment of wind power is central to Europe`s energy transition but faces challenges due to its social and environmental impacts on communities. Here we assess how the tolerance of local stakeholders to such impacts…
The assessment of the high-resolution ensemble weather prediction system COSMO-DE-EPS is achieved with the perspective of using it for renewable energy applications. The performance of the ensemble forecast is explored focusing on global…
We discuss stochastic modeling of volatility persistence and anti-correlations in electricity spot prices, and for this purpose we present two mean-reverting versions of the multifractal random walk (MRW). In the first model the…
The issue of the accuracy of wind speed/power forecasts is becoming more and more important as wind power production continues to increase year after year. Having accurate forecasts for the energy market clashes with intrinsic difficulties…
We consider a 2-dimensional marked Hawkes process with increasing baseline intensity in order to model prices on electricity intraday markets. This model allows to represent different empirical facts such as increasing market activity,…
In this article, a multiple split method is proposed that enables construction of multidimensional probabilistic forecasts of a selected set of variables. The method uses repeated resampling to estimate uncertainty of simultaneous…
The United States' power market is featured by the lack of judicial power at the federal level. The market thus provides a unique testing environment for the market organization structure. At the same time, the econometric modeling and…
Accurate electrical consumption forecasting is crucial for efficient energy management and resource allocation. While traditional time series forecasting relies on historical patterns and temporal dependencies, incorporating external…
As the share of renewable energy sources in the present electric energy mix rises, their intermittence proves to be the biggest challenge to carbon free electricity generation. To address this challenge, we propose an electricity pricing…
Electricity price forecasting is an essential task in all the deregulated markets of the world. The accurate prediction of the day-ahead electricity prices is an active research field and available data from various markets can be used as…