Fuzzy set-based decision support system for transactions of electricity in a deregulated environment

The authors present a model to evaluate electricity supply contracts for retail consumers who have a choice of retail offers under a recently deregulated environment. A bilateral contract to supply power at a fixed price will be attractive to some consumers, because the spot price in a power exchang...

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Bibliographic Details
Published inProceedings Joint 9th IFSA World Congress and 20th NAFIPS International Conference (Cat. No. 01TH8569) Vol. 1; pp. 87 - 92 vol.1
Main Authors Niimura, T., Ozawa, K., Hirano, O.
Format Conference Proceeding
LanguageEnglish
Published IEEE 2001
Subjects
Contracts
Decision support systems
Electricity supply industry deregulation
Energy consumption
Fuzzy sets
Fuzzy systems
Power industry
Power markets
Power supplies
Power system modeling
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Summary:The authors present a model to evaluate electricity supply contracts for retail consumers who have a choice of retail offers under a recently deregulated environment. A bilateral contract to supply power at a fixed price will be attractive to some consumers, because the spot price in a power exchange market may go up unreasonably. In this approach, uncertain market prices are first estimated by an extended time-series model that considers the possible ranges of prices. Next, an index is introduced to reflect the consumer's preference for a low price with some margins. The differences in the offered price for a supply contract and the market price estimates are then compared with the preference index. The overall grade of matching the price differential and the consumer's preference indicates the degree of consumer satisfaction by the offered price for the transaction. Numerical examples using California Power Exchange data are illustrated.
ISBN:9780780370784
0780370783
DOI:10.1109/NAFIPS.2001.944232