Forecasting hourly electricity prices and their characteristic properties is a core challenge for energy generation companies and trading houses. The short-term marketing and purchase of electricity is usually managed with standardized products traded on different markets and with specific...

Forecasting hourly electricity prices and their characteristic properties is a core challenge for energy generation companies and trading houses. The short-term marketing and purchase of electricity is usually managed with standardized products traded on different markets and with specific...

Increasing shares of fluctuating renewable energy, the integration of European electricity grids and markets as well as new technologies induce continuous change in the European energy system. Due to these changes, fundamental electricity system and market models that have been developed and...

We present a stochastic modelling approach to describe the dynamics of hourly electricity prices. The suggested methodology is a stepwise combination of several mathematical operations to adequately characterize the distribution of electricity spot prices. The basic idea is to analyze day-ahead...

We present a stochastic modelling approach to describe the dynamics of hourly electricity prices. The suggested methodology is a stepwise combination of several mathematical operations to adequately characterize the distribution of electricity spot prices. The basic idea is to analyze day-ahead...

In this paper we present an evaluation framework for predictions of binary events in probabilistic electricity price forecasting. It employs the MSE-equivalent QPS together with the DM test and allows for further insights about deficiencies of the considered models. Additionally, techniques from...

In this paper we present an evaluation framework for predictions of binary events in probabilistic electricity price forecasting. It employs the MSE-equivalent QPS together with the DM test and allows for further insights about deficiencies of the considered models. Additionally, techniques from...

Uncertainty is almost ubiquitous in energy related decision making. It has many sources, multiple facets and numerous implications. From the uncertainties surrounding Global Warming over the incertitude of future technological progress to the volatility of fuel and other energy prices, the...

Residential heat pumps are one of the most resource-efficient means for space heating. Their market shares are prospected to rise substantially within the next decades. By installing a thermal energy storage, the operation of heat pumps is - to a certain extent - decoupled from heat demand. Such...

Practitioners in the electricity industry aim to assess the value of power plants or other real options several months or even years ahead of operation. Such a valuation is notably required for hedging purposes. The revenue streams to be earned in the spot market are thereby already secured on...