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Orientador(es)
Resumo(s)
In the current operation of electricity markets, market price and quantity present a distinct pattern between peak and off-peak hours. This pattern tends to repeat over a 24-hour time cycle. The purpose of this study is to analyze the maximum values of day-ahead market prices, considering the time of day when the maximum values are reached and the respective quantity traded. The cyclical nature of these variables allows the use of circular statistical methods that can be used to analyze any kind of data that are cyclic in nature, like time-of-day data measured on a 24h-clock. This study applies this methodology in analyzing the maximum day-ahead market prices in the Iberian electricity market (MIBEL) between 2012 and 2014 enabling the analysis over the years and between seasons. Results show that circular statistics methods enable to bring important insights into the characterization of electricity market price behavior.
Descrição
Palavras-chave
Circular statistics Day-ahead market Iberian electricity market Market price
Contexto Educativo
Citação
FREITAS, Daniel; MARTINS, Ana; LAGARTO, João – Modeling of cyclic events in electricity markets using circular statistical methods. In 2016 13th International Conference on the European Energy Market (EEM). Porto, Portugal: IEEE, 2016. ISBN 978-1-5090-1298-5. Pp. 1-5
Editora
Institute of Electrical and Electronics Engineers