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Forecasting in the electrical grid

A. Uncertainty in the electrical grid In today’s electrical grid, as the integration of renewable energy sources (RES) in the grid increases, the uncertainty in the available generation also rises. In particular, the larger the share of RES in the grid, the more dependent is the electricity generation on weather conditions, and in turn, the more unpredictable electricity generation becomes. This uncertainty also affects the demand side as electricity consumption is also weather-dependent and every Read more…

By Jesus Lago, ago

Introduction to electricity markets, its balancing mechanism and the role of renewable sources

Introduction Unlike many other commodities or goods, massive storage of electricity is in general not affordable. In particular, when we look at the things that an average human being consumes on a daily basis, e.g. food, clothes, oil, gas, medicines, etc., we observe that most of them have the common feature of being stored somewhere and available for human consumption whenever it is necessary. In contrast with these, electric energy has no realistic means to Read more…

By Jesus Lago, ago