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Compared to electric energy prices, reserve prices present different characteristics including lower price level, higher variability, and more frequent and extreme spikes. While the modeling of electric energy prices have been broadly studied in the literature, such research on ancillary services prices is limited. This paper investigates the application of established stochastic approaches for modeling...
With the help of smart meters, power companies can remotely collect customers' power consumption and setup demand response programs accordingly. While there is no standard for the metering interval, many power companies collect data at hourly basis. Hourly measured data is sufficient for providing billing information and feedback on energy use. However, it does not reflect the true inter-hour dynamics...
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