Novel econometric techniques for modelling and forecasting electricity prices and price volatility in Australia. Price volatility, particularly price spikes, are of special importance to electricity retailers who, because of retail price regulation, cannot pass them onto final customers and end up bearing the price risk. While state governments may enter into compensation deals with retailers, it is of great interest to both parties to understand why and when these price surges occur and, once t ....Novel econometric techniques for modelling and forecasting electricity prices and price volatility in Australia. Price volatility, particularly price spikes, are of special importance to electricity retailers who, because of retail price regulation, cannot pass them onto final customers and end up bearing the price risk. While state governments may enter into compensation deals with retailers, it is of great interest to both parties to understand why and when these price surges occur and, once they have occurred, how long they will last. A better understanding of the electricity price process will enable more sophisticated plans and strategies to be put in place to hedge against unfavourable, unexpected or extreme price events.Read moreRead less
Power system composite load modeling. Load modelling remains an open problem (and probably the most important unsolved problem) for the power industry world wide and is a priority for the research community in Australia. Without reliable load models it is impossible to perform accurate power system security assessment, which may lead to power system blackouts causing billions of dollars and hinder national security. This project aims at developing a composite load model and tackles all the up-to ....Power system composite load modeling. Load modelling remains an open problem (and probably the most important unsolved problem) for the power industry world wide and is a priority for the research community in Australia. Without reliable load models it is impossible to perform accurate power system security assessment, which may lead to power system blackouts causing billions of dollars and hinder national security. This project aims at developing a composite load model and tackles all the up-to-date most challenging problems using existing resources and expertise. It will provide one of the most valuable tools for the Australian power industry.Read moreRead less