The Short-Term Power Market: The Need of the hour
- Resource Type
- Conference
- Authors
- Anusree, T.; Rashmi, M. R.
- Source
- 2022 International Mobile and Embedded Technology Conference (MECON) Mobile and Embedded Technology Conference (MECON), 2022 International. :136-139 Mar, 2022
- Subject
- Communication, Networking and Broadcast Technologies
Components, Circuits, Devices and Systems
Computing and Processing
Fields, Waves and Electromagnetics
Photonics and Electrooptics
Robotics and Control Systems
Signal Processing and Analysis
Renewable energy sources
Costs
Electricity supply industry
Reliability engineering
Power markets
Fossil fuels
Indexes
Power Trading
Electricity Market
Portfolio Management
Optimized Power Market Mode
Herfindahi-Hirschman Index (HHI)
- Language
The purpose of design of the electricity market model is to provide a reliable electricity at affordable cost to the consumers. The paradigm shift is undergoing in the electricity market due to the resource mix transition from the fossil fuels to renewable energy sources. The goal of the paper is to present the features of the short-term electricity market model. The paper paves the way towards the design of smart power market by effective portfolio management.