Fuzzy Price Forecasting and Energy Contracting in Competitive Electricity Markets
Of many applications, the fuzzy sets approach in cases involving human decisions seems to be the most promising. Electricity markets have brought new challenges to researches as varying prices and uncertain volume of energy production result in risk to be taken when contracting energy. The implementation of fuzzy approach allows the price pattern determination and the evaluation of the risk taken for various market attitudes . The data used in research comes from the Australian Electricity Market, which seems to the most advanced electricity market with 5-minute dispatch prices.
KeywordsTrend Line Market Participant Total Risk Strike Price Spot Price
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- Michalik G., „Fuzzy Logic Approach to Contracting Electrical Energy in Competitive Electricity Markets“, PhD thesis, Monash University, Melbourne, Australia, 1999.Google Scholar