Abstract
Electricity market is a complex system involving multi-factors and multi-links. As an important economic lever, the electricity price shows the evolution of complex irregular movement. It’s significant to reveal the internal law of this seemingly stochastic evolution. the study firstly determined the sequence method as the research tool after comparative analysis of four different power indexes. And then, the study compared the single time sequence and the time-sharing time sequence in PJM market. The former sequence better reflected the complex factors. So exponential of the single time sequence was studied by sequential method of least squares fit. We found that the time-sharing time sequence has a distinct power-law distribution. The exponential is in the range of 2.262-3.375. At last, the study summarized the main factors affecting price volatility. It’s a new research idea for the complex nature of electricity price and the complex system of electricity market.
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Jingqi, S., Dongxiao, N., Chunjie, L. (2011). Study on Chaos Characteristics of Electricity Price Based on Power-Law Distribution. In: Wu, Y. (eds) Advances in Computer, Communication, Control and Automation. Lecture Notes in Electrical Engineering, vol 121. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-25541-0_64
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DOI: https://doi.org/10.1007/978-3-642-25541-0_64
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