Methodology for Analysing the Relationships Between Physical Parameters and Price Variables in Regional Demand for Wind Electricity (As Applied to the Latvian Aggregator) Cover Image

Metodologia analizy zależności między parametrami fizycznymi a zmiennymi cen regionalnego zapotrzebowania na energię wiatrową (w zastosowaniu do agregatora łotewskiego)
Methodology for Analysing the Relationships Between Physical Parameters and Price Variables in Regional Demand for Wind Electricity (As Applied to the Latvian Aggregator)

Author(s): Kristina Silinevica, Kristina Mahareva, Inna Stecenko
Subject(s): Politics / Political Sciences, Social Sciences, Library and Information Science, Security and defense
Published by: Uniwersytet Przyrodniczo-Humanistyczny w Siedlcach
Keywords: natural and price indicators; electricity sector; correlation and regression models; sinusoidal dependence; Latvian regional aggregator

Summary/Abstract: In this article, the methodology is proposed for the complex analysis of the correlation and regressiondependencies of the relationship between the electricity price and the wind power generation inthe electricity market in accordance with the National Energy and Climate Plan for 2021-2030 to increasethe share of renewable energy sources (RES) in electricity generation. Both business models and technologiesfor regulating the supply and demand of electricity (EE) are changing significantly in the modern environment.The European Green Deal1 has the main objective of becoming the world’s first climate-neutral continentby 2050. The use of renewable energy significantly reduces the dependence on fossil fuels as a sourceof energy, helping to reduce greenhouse gas emissions. The growth of renewable energy sources can alsohelp stabilize energy prices in the future, once they constitute a significant proportion of the electricity mixthat powers businesses and households. Voluntary optimization of electricity consumption and energy-savingby the final consumer entails the economic impact carried out by the Demand Response (DR) mechanism.The adapted models help to understand this mechanism and establish the development of the Latvian regionalaggregator, which, in turn, strengthens energy security in the European Union countries and improves energysustainability and resilience.

  • Issue Year: 8/2022
  • Issue No: 2
  • Page Range: 119-132
  • Page Count: 14
  • Language: English