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CLC number: TM73;F123.9
On-line Access: 2024-08-27
Received: 2023-10-17
Revision Accepted: 2024-05-08
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An electricity price model with consideration to load and gas price effects
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HUANG Min-xiang, TAO Xiao-hu, HAN Zhen-xiang. An electricity price model with consideration to load and gas price effects[J]. Journal of Zhejiang University Science A, 2003, 4(6): 666-671.
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author="HUANG Min-xiang, TAO Xiao-hu, HAN Zhen-xiang",
journal="Journal of Zhejiang University Science A",
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pages="666-671",
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publisher="Zhejiang University Press & Springer",
doi="10.1631/jzus.2003.0666"
}
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DOI - 10.1631/jzus.2003.0666
Abstract: Some characteristics of the electricity load and prices are studied, and the relationship between electricity prices and gas (fuel) prices is analyzed in this paper. Because electricity prices are strongly dependent on load and gas prices, the authors constructed a model for electricity prices based on the effects of these two factors; and used the Geometric Mean Reversion Brownian Motion (GMRBM) model to describe the electricity load process, and a Geometric Brownian Motion (GBM) model to describe the gas prices; deduced the price stochastic process model based on the above load model and gas price model. This paper also presents methods for parameters estimation, and proposes some methods to solve the model.
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Open peer comments: Debate/Discuss/Question/Opinion
<1>
Albert Tetteh@KNUST,Ghana<its_my.own27@yahoo.com>
2010-09-23 03:32:40
I wish more access be given African students so we can contribute from our region