Please use this identifier to cite or link to this item: https://hdl.handle.net/10356/40028
Title: Statistical modelling of electricity price in Singapore power market
Authors: Tan, Eugene Ye Wu.
Keywords: DRNTU::Engineering::Electrical and electronic engineering::Electric power
Issue Date: 2010
Abstract: In most financial-driven markets, statistical tools are often used in the study of price behaviour. Currently, various researches have been conducted in the analysis of the electricity price behaviour using technical and mathematical tools. In addition is the widely used statistical method which is solely based on the historical data. With the deregulation of the electricity market in Singapore, such analysis of the electricity price behaviour will be crucial for both the consumers and generating companies. In this report, the student presents the studies conducted in the analyses and modelling of the electricity price using the historical data. The price data are categorized into different time scales: half-hourly, daily, monthly and seasonal variation. Statistical models were identified using the polynomial regression technique in order to model short-term estimation of the future spot price. A Graphical User Interface (GUI) was designed in the latter part of the project to implement the findings of the statistical analysis and modelling by graphically display the results. When fully developed, such a statistical distribution analysis and modelling of electricity price will be an invaluable tool for distribution and generating companies in their forecast of the spot prices, which will be very crucial in their operating decisions.
URI: http://hdl.handle.net/10356/40028
Rights: Nanyang Technological University
Fulltext Permission: restricted
Fulltext Availability: With Fulltext
Appears in Collections:EEE Student Reports (FYP/IA/PA/PI)

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