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Development of a methodology for clustering electricity-price series to improve customer response initiatives

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7 Author(s)
Gabaldon, A. ; Univ. Politec. de Cartagena, Cartagena, Spain ; Guillamon, A. ; Ruiz, M.C. ; Valero, S.
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The aim of this study is to propose a methodology in order to obtain a better support management decisions in terms of planning of bids and energy offers in real-time energy markets. Specifically, the authors use self-organising maps and statistical Ward's linkage to classify electricity market prices into different clusters (high homogeneity inside each cluster). In the second stage, the authors use non-parametric estimation to extract some price patterns in the above mentioned clusters. The knowledge contained within these patterns supplies customers with market-based information on which to focus its energy use decisions. The methodology proposed has been applied to New England (USA) market.

Published in:

Generation, Transmission & Distribution, IET  (Volume:4 ,  Issue: 6 )