Naslov
Mean-based method of estimating financial cost of load forecasting

Autori
Matijaš, Marin ; Cerjan, Marin ; Krajcar, Slavko

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
8th International Conference on the European Energy Market (EEM 2011 : proceedings / Delimar, Marko - : Institute of Electrical and Electronics Engineers (IEEE), 2011, 192-197

ISBN
978-1-61284-284-4

Skup
8th International conference on the European Energy Market (8 ; 2011)

Mjesto i datum
Zagreb, Hrvatska, 25.05.2011. - 27.05.2011

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
load forecasting; financial cost; balancing energy; forecasting error; electricity prices

Sažetak
In liberalized electricity markets participants are obliged to schedule their electricity plans in advance because in a power system, equilibrium of production and consumption must be kept at all times. In order for power system to function, market participants forecast their plans trying to minimize their load forecasting error. Deviations from their realized energy through sale and purchase of balancing energy present a financial cost. Since it is a competitive market, in order to remain profitable, participants try to minimize their financial cost and risk exposure to balancing energy mainly by lowering their load forecasting error. In this paper we investigate behaviour of balancing energy and its dependency on forecasting strategy, load forecasting error, size of a market participant and energy prices. As a result we propose an equation for estimation of financial cost of load forecasting.

Izvorni jezik
Engleski

Znanstvena područja
Elektrotehnika

POVEZANOST RADA