Price model of electrical energy for PSE applications

  • Davide Manca
  • Published 2016 in Computers & Chemical Engineering

Abstract

46 The Electrical Energy (EE) price plays a significant role in the economic assessment of industrial 47 processes. PSE/CAPE applications are often based on economic evaluations/optimizations where 48 EE price and its possible dynamic evolution are important input data. Planning, scheduling, on-line 49 optimization, (dynamic) conceptual design, and feasibility studies are some of the applications 50 where short-, medium-, and long-term predictions of EE quotations are involved. The paper 51 discusses the main issues that contribute to EE quotations such as geographical, meteorological, 52 seasonal, political, social, and financial terms. EE prices show a significant dependency on crude oil 53 quotations with a time-delay of about a quarter/season. An econometric model comprising both 54 linear and periodic components with an implicit stochastic term delivered by the reference 55 component is first commented, then identified, and finally validated respect to real EE quotations. 56 The paper provides also a discussion on how to forecast EE prices ranging from shortto long-term 57 horizons. 58 59 60 61 62

DOI: 10.1016/j.compchemeng.2015.08.013

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Cite this paper

@article{Manca2016PriceMO, title={Price model of electrical energy for PSE applications}, author={Davide Manca}, journal={Computers & Chemical Engineering}, year={2016}, volume={84}, pages={208-216} }