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Electricity Price Forecasting
Electricity price forecasting (EPF) is a branch of energy forecasting which focuses on predicting the spot and forward prices in wholesale electricity markets. Over the last 15 years electricity price forecasts have become a fundamental input to energy companies’ decision-making mechanisms at the corporate level. Since the early 1990s, the process of deregulation and the introduction of competitive electricity markets have been reshaping the landscape of the traditionally monopolistic and government-controlled power sectors. Throughout Europe, North America and Australia, electricity is now traded under market rules using spot and derivative contracts. However, electricity is a very special commodity: it is economically non-storable and power system stability requires a constant balance between production and consumption. At the same time, electricity demand depends on weather (temperature, wind speed, precipitation, etc.) and the intensity of business and everyday activities ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Energy Forecasting
Energy forecasting includes forecasting demand ( load) and price of electricity, fossil fuels (natural gas, oil, coal) and renewable energy sources (RES; hydro, wind, solar). Forecasting can be both expected price value and probabilistic forecasting. Background When electricity sectors were regulated, utility monopolies used short-term load forecasts to ensure the reliability of supply and long-term demand forecasts as the basis for planning and investing in new capacity. However, since the early 1990s, the process of deregulation and the introduction of competitive electricity markets have been reshaping the landscape of the traditionally monopolistic and government-controlled power sectors. In many countries worldwide, electricity is now traded under market rules using spot and derivative contracts. At the corporate level, electricity load and price forecasts have become a fundamental input to energy companies’ decision making mechanisms. The costs of over- or undercontract ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pumped-storage Hydroelectricity
Pumped-storage hydroelectricity (PSH), or pumped hydroelectric energy storage (PHES), is a type of hydroelectric energy storage used by electric power systems for load balancing. The method stores energy in the form of gravitational potential energy of water, pumped from a lower elevation reservoir to a higher elevation. Low-cost surplus off-peak electric power is typically used to run the pumps. During periods of high electrical demand, the stored water is released through turbines to produce electric power. Although the losses of the pumping process make the plant a net consumer of energy overall, the system increases revenue by selling more electricity during periods of peak demand, when electricity prices are highest. If the upper lake collects significant rainfall or is fed by a river then the plant may be a net energy producer in the manner of a traditional hydroelectric plant. Pumped-storage hydroelectricity allows energy from intermittent sources (such as solar, wind ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Streamflow
Streamflow, or channel runoff, is the flow of water in streams and other channels, and is a major element of the water cycle. It is one component of the movement of water from the land to waterbodies, the other component being surface runoff. Water flowing in channels comes from surface runoff from adjacent hillslopes, from groundwater flow out of the ground, and from water discharged from pipes. The discharge of water flowing in a channel is measured using stream gauges or can be estimated by the Manning equation. The record of flow over time is called a hydrograph. Flooding occurs when the volume of water exceeds the capacity of the channel. Role in the water cycle Streams play a critical role in the hydrologic cycle that is essential for all life on Earth. A diversity of biological species, from unicellular organisms to vertebrates, depend on flowing-water systems for their habitat and food resources. Rivers are major aquatic landscapes for all manners of plants and animals. Ri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Snowpack
Snowpack forms from layers of snow that accumulate in geographic regions and high elevations where the climate includes cold weather for extended periods during the year. Snowpacks are an important water resource that feed streams and rivers as they melt. Therefore, snowpacks are both the drinking water source for many communities and a potential source of flooding (in case of sudden melting). Snowpacks also contribute mass to glaciers in their accumulation zone. Assessing the formation and stability of snowpacks is important in the study and prediction of avalanches. Scientists study the physical properties of snow under different conditions and their evolution, and more specifically snow metamorphism, snow hydrology (that is, the contribution of snow melt to catchment hydrology), the evolution of snow cover with climate change and its effect on the ice–albedo feedback and hydrology, both on the ground and by using remote sensing. Snow is also studied in a more global context o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fahrenheit
The Fahrenheit scale () is a temperature scale based on one proposed in 1724 by the physicist Daniel Gabriel Fahrenheit (1686–1736). It uses the degree Fahrenheit (symbol: °F) as the unit. Several accounts of how he originally defined his scale exist, but the original paper suggests the lower defining point, 0 °F, was established as the freezing temperature of a solution of brine made from a mixture of water, ice, and ammonium chloride (a salt). The other limit established was his best estimate of the average human body temperature, originally set at 90 °F, then 96 °F (about 2.6 °F less than the modern value due to a later redefinition of the scale). For much of the 20th century, the Fahrenheit scale was defined by two fixed points with a 180 °F separation: the temperature at which pure water freezes was defined as 32 °F and the boiling point of water was defined to be 212 °F, both at sea level and under standard atmospheric pressure. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Degree (temperature)
The term ''degree'' is used in several scales of temperature, with the notable exception of kelvin, primary unit of temperature for engineering and the physical sciences. The degree symbol ° is usually used, followed by the initial letter of the unit; for example, "°C" for degree(s) Celsius. A degree can be defined as a set change in temperature measured against a given scale; for example, one degree Celsius is one-hundredth of the temperature change between the point at which water starts to change state from solid to liquid state and the point at which it starts to change from its liquid to gaseous state. Scales of temperature measured in degrees Common scales of temperature measured in degrees: * Celsius (°C) * Fahrenheit (°F) * Rankine (°R or °Ra), which uses the Fahrenheit scale, adjusted so that 0 degrees Rankine is equal to absolute zero. Unlike the degree Fahrenheit and degree Celsius, the kelvin is not referred to or written as a degree. The kelvin is the primary uni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cooling Degree Day
Heating degree day (HDD) is a measurement designed to quantify the demand for energy needed to heat a building. HDD is derived from measurements of outside air temperature. The heating requirements for a given building at a specific location are considered to be directly proportional to the number of HDD at that location. Related measurements include the cooling degree day (CDD), which quantifies demand for air conditioning. Definition Heating degree days are defined relative to a base temperature—the outside temperature above which a building needs no heating. Base temperatures may be defined for a particular building as a function of the temperature that the building is heated to, or it may be defined for a country or region for example. In the latter case, building standards or conventions may exist for the temperature threshold. These include: The base temperature does not necessarily correspond to the building mean internal temperature, as standards may consider mean bui ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heating Degree Day
Heating degree day (HDD) is a measurement designed to quantify the demand for energy needed to heat a building. HDD is derived from measurements of outside air temperature. The heating requirements for a given Architectural structure, building at a specific location are considered to be directly proportional to the number of HDD at that location. Related measurements include the cooling degree day (CDD), which quantifies demand for air conditioning. Definition Heating degree days are defined relative to a base temperature—the outside temperature above which a building needs no heating. Base temperatures may be defined for a particular building as a function of the temperature that the building is heated to, or it may be defined for a country or region for example. In the latter case, building standards or conventions may exist for the temperature threshold. These include: The base temperature does not necessarily correspond to the building mean internal temperature, as standa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Summer
Summer is the hottest of the four temperate seasons, occurring after spring and before autumn. At or centred on the summer solstice, the earliest sunrise and latest sunset occurs, daylight hours are longest and dark hours are shortest, with day length decreasing as the season progresses after the solstice. The date of the beginning of summer varies according to climate, tradition, and culture. When it is summer in the Northern Hemisphere, it is winter in the Southern Hemisphere, and vice versa. Timing From an astronomical view, the equinoxes and solstices would be the middle of the respective seasons, but sometimes astronomical summer is defined as starting at the solstice, the time of maximal insolation, often identified with the 21st day of June or December. By solar reckoning, summer instead starts on May Day and the summer solstice is Midsummer. A variable seasonal lag means that the meteorological centre of the season, which is based on average temperature pattern ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Air Conditioner
Air conditioning, often abbreviated as A/C or AC, is the process of removing heat from an enclosed space to achieve a more comfortable interior environment (sometimes referred to as 'comfort cooling') and in some cases also strictly controlling the humidity of internal air. Air conditioning can be achieved using a mechanical 'air conditioner' or alternatively a variety of other methods, including passive cooling or ventilative cooling. Air conditioning is a member of a family of systems and techniques that provide heating, ventilation, and air conditioning (HVAC). Heat pumps are similar in many ways to air conditioners, but use a reversing valve to allow them to both heat and also cool an enclosed space. Air conditioners, which typically use vapor-compression refrigeration, range in size from small units used within vehicles or single rooms to massive units that can cool large buildings. Air source heat pumps, which can be used for heating as well as cooling, are becoming incre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Winter
Winter is the coldest season of the year in polar and temperate climates. It occurs after autumn and before spring. The tilt of Earth's axis causes seasons; winter occurs when a hemisphere is oriented away from the Sun. Different cultures define different dates as the start of winter, and some use a definition based on weather. When it is winter in the Northern Hemisphere, it is summer in the Southern Hemisphere, and vice versa. In many regions, winter brings snow and freezing temperatures. The moment of winter solstice is when the Sun's elevation with respect to the North or South Pole is at its most negative value; that is, the Sun is at its farthest below the horizon as measured from the pole. The day on which this occurs has the shortest day and the longest night, with day length increasing and night length decreasing as the season progresses after the solstice. The earliest sunset and latest sunrise dates outside the polar regions differ from the date of the winte ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heating
A central heating system provides warmth to a number of spaces within a building from one main source of heat. It is a component of heating, ventilation, and air conditioning (short: HVAC) systems, which can both cool and warm interior spaces. A central heating system has a furnace that converts fuel or electricity to heat. The heat is circulated through the building either by fans forcing heated air through ducts, circulation of low-pressure steam to radiators in each heated room, or pumps that circulate hot water through room radiators. Primary energy sources may be fuels like coal or wood, oil, kerosene, natural gas, or electricity. Compared with systems such as fireplaces and wood stoves, a central heating plant offers improved uniformity of temperature control over a building, usually including automatic control of the furnace. Large homes or buildings may be divided into individually controllable zones with their own temperature controls. Automatic fuel (and sometimes ash ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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