Title :
Demand-price analysis of electricity market using Discrete Wavelet Transform
Author :
Qureshi, Waqar A. ; Nair, Nirmal Kumar C ; Farid, Muhammad M.
Author_Institution :
Dept. of Electr. & Comput. Eng., Univ. of Auckland, Auckland, New Zealand
Abstract :
Real time pricing (RTP) is one of the methods, that can contribute towards effective implementation of demand side management (DSM) programmes in an electricity market. In New Zealand, residential heating/cooling is a major constituent of electricity demand for households. This paper analyzes the demand and electricity price behaviour in New Zealand electricity market (NZEM) influenced by seasonal changes, especially winter. One of the relatively new time series analysis technique i.e. discrete wavelet transform (DWT) has been applied to investigate; electricity demand and electricity wholesale price yearly trends; correlation of demand and price with ambient temperature in NZEM. Using DWT, this paper also identifies the half-hourly trading periods that will derive the most financial benefits if RTP were implemented.
Keywords :
demand side management; discrete wavelet transforms; load forecasting; power markets; New Zealand; demand price analysis; demand side management; discrete wavelet transform; electricity demand; electricity market; real time pricing; residential heating/cooling; Discrete wavelet transforms; Electricity supply industry; Energy management; Pattern analysis; Power system modeling; Pricing; Resistance heating; Temperature; Time series analysis; Wavelet analysis; Demand Side Management; Discrete Wavelet Transform; Electricity Market; Real Time Pricing;
Conference_Titel :
Power Engineering Conference, 2009. AUPEC 2009. Australasian Universities
Conference_Location :
Adelaide, SA
Print_ISBN :
978-1-4244-5153-1
Electronic_ISBN :
978-0-86396-718-4
