Comparison of Changes in Electricity Consumption Distribution in Day and Night Scale Caused by Nord Pool Spot Prices Volatility
Under free market conditions, there should be a correlation between price and demand. In the electricity market, it is not possible to shift all consumption to hours that are more favourable. Therefore, free market rules do not fully apply to the electricity exchange market. Household consumers have...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Sciendo
2022-01-01
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| Series: | Environmental and Climate Technologies |
| Subjects: | |
| Online Access: | https://doi.org/10.2478/rtuect-2022-0028 |
| _version_ | 1797947899904000000 |
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| author | Lill Heiki Pihlap Heino |
| author_facet | Lill Heiki Pihlap Heino |
| author_sort | Lill Heiki |
| collection | DOAJ |
| description | Under free market conditions, there should be a correlation between price and demand. In the electricity market, it is not possible to shift all consumption to hours that are more favourable. Therefore, free market rules do not fully apply to the electricity exchange market. Household consumers have a better ability to shift their energy consumption. At the same time, a large number of household consumers have fixed-price contracts and are therefore not affected by the sharp price changes, so it can be said that they do not actively participate in the stock market. They do not need to shift their electricity consumption. High-consumption industrial companies have very low possibilities at all to react to the stock market changes. The aim of this study is to find out how much electricity consumption has been able to shift in a situation where electricity prices in Estonian were extremely high and volatile. Electricity prices are usually lower at night-time, so it can be assumed that consumption will be shifted to night-time if possible. Examining the change in the distribution of night- and daytime electrical consumption over the years, it is possible to analyse the effect of energy prices on consumer behaviour during periods of high volatility. |
| first_indexed | 2024-04-10T21:33:49Z |
| format | Article |
| id | doaj.art-8655645410e148e7b0c1ed4518e7043d |
| institution | Directory Open Access Journal |
| issn | 2255-8837 |
| language | English |
| last_indexed | 2024-04-10T21:33:49Z |
| publishDate | 2022-01-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Environmental and Climate Technologies |
| spelling | doaj.art-8655645410e148e7b0c1ed4518e7043d2023-01-19T12:47:03ZengSciendoEnvironmental and Climate Technologies2255-88372022-01-0126136537610.2478/rtuect-2022-0028Comparison of Changes in Electricity Consumption Distribution in Day and Night Scale Caused by Nord Pool Spot Prices VolatilityLill Heiki0Pihlap Heino1Institute of Forestry and Engineering, Estonian University of Life Sciences, Kreutzwaldi 56/1, EstoniaInstitute of Forestry and Engineering, Estonian University of Life Sciences, Kreutzwaldi 56/1, EstoniaUnder free market conditions, there should be a correlation between price and demand. In the electricity market, it is not possible to shift all consumption to hours that are more favourable. Therefore, free market rules do not fully apply to the electricity exchange market. Household consumers have a better ability to shift their energy consumption. At the same time, a large number of household consumers have fixed-price contracts and are therefore not affected by the sharp price changes, so it can be said that they do not actively participate in the stock market. They do not need to shift their electricity consumption. High-consumption industrial companies have very low possibilities at all to react to the stock market changes. The aim of this study is to find out how much electricity consumption has been able to shift in a situation where electricity prices in Estonian were extremely high and volatile. Electricity prices are usually lower at night-time, so it can be assumed that consumption will be shifted to night-time if possible. Examining the change in the distribution of night- and daytime electrical consumption over the years, it is possible to analyse the effect of energy prices on consumer behaviour during periods of high volatility.https://doi.org/10.2478/rtuect-2022-0028energy marketenergy consumptiondemand responsenon-shiftable load |
| spellingShingle | Lill Heiki Pihlap Heino Comparison of Changes in Electricity Consumption Distribution in Day and Night Scale Caused by Nord Pool Spot Prices Volatility Environmental and Climate Technologies energy market energy consumption demand response non-shiftable load |
| title | Comparison of Changes in Electricity Consumption Distribution in Day and Night Scale Caused by Nord Pool Spot Prices Volatility |
| title_full | Comparison of Changes in Electricity Consumption Distribution in Day and Night Scale Caused by Nord Pool Spot Prices Volatility |
| title_fullStr | Comparison of Changes in Electricity Consumption Distribution in Day and Night Scale Caused by Nord Pool Spot Prices Volatility |
| title_full_unstemmed | Comparison of Changes in Electricity Consumption Distribution in Day and Night Scale Caused by Nord Pool Spot Prices Volatility |
| title_short | Comparison of Changes in Electricity Consumption Distribution in Day and Night Scale Caused by Nord Pool Spot Prices Volatility |
| title_sort | comparison of changes in electricity consumption distribution in day and night scale caused by nord pool spot prices volatility |
| topic | energy market energy consumption demand response non-shiftable load |
| url | https://doi.org/10.2478/rtuect-2022-0028 |
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