Providing optimal pricing strategy for buyers' energy packages in Iran power exchange

In contrast to the current existing whole-sale electricity market of Iran in that buyers may not impact the pricing strategy of the electricity, establishment of the energy exchange can enable both buyers and sellers to interact through a two-way bidding system until both parties agree to execute a deal. The significance of such a market for buyers (i.e. distribution companies) would be reflected in potentially reduced cost of energy ownership that is based on different energy offering packages. This paper deploy the 24-hours SARIMA model in order to predict the price of energy packages in the whole sale market and then presents a novel method based on minimisation of the cost function to achieve an optimal pricing strategy in various symbol of power exchange. Additionally, the effect of inflation has been specifically accounted. The overall solution would assist the buyer to determine the optimal price and amount of energy, it would require buying.