Impacts of day-ahead versus real-time market prices on wholesale electricity demand in Texas
Por:
Damien, Paul, Fuentes-Garcia, Ruth, Mena, Ramses H., Zarnikau, Jay
Publicada:
1 ene 2019
Resumen:
The somewhat recent nodal market structure in Texas impacts wholesale day-ahead market (DAM) and real-time market (RTM) prices. However, comparative insights on consumer responses to both these prices have not received attention. This paper attempts to fill this void by developing a system-wide demand response model to better understand price elasticities under DAM and RTM pricing. These insights may also assist grid operators to develop improved short-term forecasts of electricity demand. Using a large dataset from the Electric Reliability Council of Texas and a hierarchical Bayesian population model, we offer new insights on how DAM and RTM pricing shapes demand for electricity, and the related consequences for maintaining a reliable electricity market. © 2019 Elsevier B.V.
Filiaciones:
Damien, Paul:
University of Texas in Austin, United States
Univ Texas Austin, Austin, TX 78712 USA
Fuentes-Garcia, Ruth:
Universidad Nacional Autónoma de México, Mexico
Univ Nacl Autonoma Mexico, Mexico City, DF, Mexico
Mena, Ramses H.:
Universidad Nacional Autónoma de México, Mexico
Univ Nacl Autonoma Mexico, Mexico City, DF, Mexico
Zarnikau, Jay:
University of Texas in Austin, United States
Univ Texas Austin, Austin, TX 78712 USA
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