Analysis of electricity price in the Turkish domestic energy market

Author(s):  
Alisan Ayvaz ◽  
Okan Ozgonenel ◽  
Birsen Boylu Ayvaz

Significance Over the past few months, the new Greek government under the leadership of Kyriakos Mitsotakis has demonstrated both its commitment to reforming the domestic energy market and its ability to engage regional partners in a dialogue on cooperation in energy policy. Its ambitious plan to transform Greece into a regional natural gas hub got off to a good start in 2020 with the signing of the landmark international Eastern Mediterranean (EastMed) pipeline agreement on January 3. Impacts If the economy recovers as expected, particularly industry, it should boost domestic demand for gas. In the short term, Greek reliance on Russian gas imports is expected to remain high. Rising volumes of US LNG imports will appease the United States, a strategic trade and military partner of the EU. Greece will strive to position itself as prominent LNG bunkering location in the Eastern Mediterranean.


Author(s):  
R.C. Leme ◽  
J.B. Turrioni ◽  
P.P. Balestrassi ◽  
A.C. Zambroni de Souza ◽  
P.S. Santos

Energies ◽  
2020 ◽  
Vol 13 (22) ◽  
pp. 6131 ◽  
Author(s):  
Masoud Agabalaye-Rahvar ◽  
Amin Mansour-Saatloo ◽  
Mohammad Amin Mirzaei ◽  
Behnam Mohammadi-Ivatloo ◽  
Kazem Zare ◽  
...  

Gas-fired power units (GFUs) are the best technology in recent years due to lower natural gas prices, higher energy transformation performance, and lower CO2 emission, as compared to the conventional power units (CPUs). A permanent storage facility called power-to-gas (P2G) technology can provide adaptation of ever-increasing renewable energy sources (RESs) fluctuations in power system operations, as well as reduce dependency to buy natural gas from the gas network. High investment and utilization expenditures of state-of-the-art P2G technology do not lead to economically effective operation individually. Therefore, in the present paper, an integrated GFUs-P2G-wind power unit (WPU) system is proposed to determine its optimal bidding strategy in the day-ahead energy market. A robust optimization approach is also taken into account to accommodate the proposed bidding strategy within the electricity price uncertainty environment. This problem was studied by using a case study that included a P2G facility, GFU, and WPUs to investigate the effectiveness and capability of the proposed robust bidding strategy in the day-ahead energy market. Simulation results indicate that the obtained profit increase by introducing the integrated energy system, and the P2G facility has a significant effect on participating GFUs, which have gas-consumption limitations in order to achieve maximum profit. Moreover, as it can be said, the amount of purchased natural gas is decreased in the situations, which do not have any gas-consumption limitations. Furthermore, the proposed system’s operation in the robust environment provides more robustness against electricity price deviations, although it leads to lower profit. In addition, deploying P2G technology causes about 1% incrementation in the introduced system profit.


Electricity price forecasting has gained a reputation for its importance in the deregulated energy market. The forecast process can be complicated as it depends on many elements. This paper proposes a hybrid of a neural network with a genetic algorithm for the electricity price forecasting. The Ontario energy market is select as the tested market for this model. The features for the neural network input are the actual historical demand and actual Hourly Ontario Energy Price (HOEP). The genetic algorithms help to select the number of features and to optimize the parameters of the neural network. This hybrid model helps to improve the accuracy of the forecasted price when comparing with the accuracy of the individual neural network itself. The mean absolute percentage error has represented the accuracy of the hybrid model, and it is used as a benchmark of the proposed hybrid model with other models.


Significance Most energy market reforms have now been included in national legislation and the Regulatory Authority for Energy has incorporated them into operational regulations. The aim is to improve market flexibility and allow wholesale market participants to benefit from improved cost management. Since January 1, all exclusive supply agreements with the state-owned Public Gas Corporation (DEPA) have been terminated, allowing all natural gas customers to choose their supplier. Impacts Proceeds from the DESFA sale, which is to be concluded in June, will go towards paying down Greek public debt. Greece’s greater integration into European energy networks (electricity and gas) will stimulate domestic energy market reform. Loss of market share will encourage SOEs to expand into related activities and diversify geographically, primarily to the Balkans. However, Greece’s ambitions to become a regional natural gas hub carry the risk of promoting overcapacity.


Author(s):  
I. Pashkovskaya

Motivation of the energy policy of the European Union towards Russia is driven by two factors. The first is the dependence of the EU on obtaining most of its energy supplies from Russia. The second factor consists of two fears (one spurious and another hypothetical) that Russia won’t deliver necessary volumes of energy to the European domestic energy market. Strange enough, these fears co-exist with the EU repeatedly confirming the fact of Russia compliance with its commitments of energy supply to the EU member states.


Sign in / Sign up

Export Citation Format

Share Document