scholarly journals Determining Factors and Scenarios of Influence on Consumer Migration from the Regulated Market to the Deregulated Electricity Market

Energies ◽  
2020 ◽  
Vol 14 (1) ◽  
pp. 65
Author(s):  
Heloísa P. Burin ◽  
Julio S. M. Siluk ◽  
Graciele Rediske ◽  
Carmen B. Rosa
Keyword(s):  
Decision Making ◽  
Literature Review ◽  
Electricity Markets ◽  
Electricity Market ◽  
Free Market ◽  
Know How ◽  
Deregulated Electricity Market ◽  
Determining Factors ◽  
The Moment ◽  
Free Environment

Due to the constant evolution of the electricity markets around the world, new possibilities for contracting electricity are emerging. In Brazil, there are two models available to the consumer: the regulated contracting environment and the free contracting environment. Because of these possibilities for contracting electricity, it is important that consumers know how to migrate from the regulated to the free environment when it is an advantage. This study was conducted following the premises of three techniques: systematic literature review, gray literature review, and expert panel. The following question was asked: What are the determining factors to be considered by the consumer at the moment decision to migrate from the regulated electricity market to the free market? In total, 7 factors were identified and discussed in the literature review. The experts who participated in the study pointed out 3 influential scenarios in this decision making to migrate. The main contribution of this study is to provide the consumer with subsidies for decision making, given the determining factors to be taken into account when deciding on migration or not. In addition, the study contributed to the sector through a comprehensive discussion about the scenarios faced by consumers and how they can influence decision making.

scholarly journals Decentralized Prosumer-Centric P2P Electricity Market Coordination with Grid Security

Energies ◽  
2021 ◽  
Vol 14 (15) ◽  
pp. 4665
Author(s):  
Duarte Kazacos Winter ◽  
Rahul Khatri ◽  
Michael Schmidt
Keyword(s):  
Electricity Markets ◽  
Electricity Market ◽  
Power Flow ◽  
Power Plants ◽  
Optimal Power Flow ◽  
Free Market ◽  
Economic Value ◽  
New Paradigm ◽  
Grid Security ◽  
Virtual Power Plants

The increasing number of prosumers and the accompanying greater use of decentralised energy resources (DERs) bring new opportunities and challenges for the traditional electricity systems and the electricity markets. Microgrids, virtual power plants (VPPs), peer-to-peer (P2P) trading and federated power plants (FPPs) propose different schemes for prosumer coordination and have the potential of becoming the new paradigm of electricity market and power system operation. This paper proposes a P2P trading scheme for energy communities that negotiates power flows between participating prosumers with insufficient renewable power supply and prosumers with surplus supply in such a way that the community welfare is maximized while avoiding critical grid conditions. For this purpose, the proposed scheme is based on an Optimal Power Flow (OPF) problem with a Multi-Bilateral Economic Dispatch (MBED) formulation as an objective function. The solution is realized in a fully decentralized manner on the basis of the Relaxed Consensus + Innovations (RCI) algorithm. Network security is ensured by a tariff-based system organized by a network agent that makes use of product differentiation capabilities of the RCI algorithm. It is found that the proposed mechanism accurately finds and prevents hazardous network operations, such as over-voltage in grid buses, while successfully providing economic value to prosumers’ renewable generation within the scope of a P2P, free market.

California Power Crisis

2017 ◽  
pp. 1-23
Author(s):  
Nabil Al-Najjar ◽  
David Besanko ◽  
Amit Nag
Keyword(s):  
Electricity Markets ◽  
Electricity Market ◽  
Wholesale Price ◽  
The State ◽  
Electricity Prices ◽  
Deregulated Electricity Market

Between May 2000 and January 2001, the recently deregulated electricity market in the state of California experienced what many commentators have characterized as a meltdown. Over that period, wholesale electricity prices increased over 500%, power emergencies and the threat of rolling blackouts became daily occurrences, and the state's largest investor-owned utility was thrust into bankruptcy. Details California's attempt to deregulate its wholesale and retail electricity markets.To identify the drivers of increases in the wholesale price of electricity in California and to provide an opportunity to diagnose the causes of California's crisis.

scholarly journals The Digital Transformation of the Retail Electricity Market in Spain

Energies ◽  
2020 ◽  
Vol 13 (8) ◽  
pp. 2085
Author(s):  
Julián Chaparro-Peláez ◽  
Emiliano Acquila-Natale ◽  
Ángel Hernández-García ◽  
Santiago Iglesias-Pradas
Keyword(s):  
Electricity Markets ◽  
Electricity Market ◽  
Free Market ◽  
Digital Transformation ◽  
The European Union ◽  
National Scale ◽  
Customer Data ◽  
Retail Markets ◽  
Channel Integration ◽  
Self Service

The deregulation of the electricity markets in the European Union and the transformation caused by digital technologies and customer-centric strategies have altered the industry ecosystem, forcing companies to adapt to the new scenario. This research study aims to give a global overview of the digital transformation and channel integration of free-market electricity retailers in Spain from a consumer’s perspective. The analysis includes all free-market electricity retailers that operate at the national scale, explores the level of digital transformation and channel integration of these companies based on a structured set of indicators, and measures them using the mystery shopper technique. The results show important differences between leading retailers and the rest of companies, evidence an important lag of the sector when compared to other retail markets and an overall lack of multichannel and omnichannel strategies, show a strong effort of retailers in online billing and self-service customer data management, and reveal shortcomings in the availability of communication channels with customers.

Decision-making and therapeutic options in intact splenic artery aneurysms: single-center experience and literature review

2020 ◽  
Vol 39 (3) ◽  
Author(s):  
Francisco S. Lozano Sánchez ◽  
Jesus García-Alonso ◽  
José A. Torres ◽  
Luis Velasco ◽  
Roberto Salvador ◽  
...  
Keyword(s):  
Decision Making ◽  
Literature Review ◽  
Splenic Artery ◽  
Therapeutic Options ◽  
Single Center ◽  
Single Center Experience

Would you Make the Right Decision? – Decision Making Biases in Economy - Related Dilemmas

2018 ◽  
Vol 9 (1) ◽  
pp. 59-66
Author(s):  
Zsuzsanna Gödör ◽  
Georgina Szabó
Keyword(s):  
Decision Making ◽  
Online Survey ◽  
Framing Effect ◽  
Economic Knowledge ◽  
Bank Account ◽  
Financial Decisions ◽  
Hungarian Population ◽  
The Moment ◽  
The Right ◽  
Decision Making Biases

Abstract As they say, money can’t buy happiness. However, the lack of it can make people’s lives much harder. From the moment we open our first bank account, we have to make lots of financial decisions in our life. Should I save some money or should I spend it? Is it a good idea to ask for a loan? How to invest my money? When we make such decisions, unfortunately we sometimes make mistakes, too. In this study, we selected seven common decision making biases - anchoring and adjustment, overconfidence, high optimism, the law of small numbers, framing effect, disposition effect and gambler’s fallacy – and tested them on the Hungarian population via an online survey. In the focus of our study was the question whether the presence of economic knowledge helps people make better decisions? The decision making biases found in literature mostly appeared in the sample as well. It proves that people do apply them when making decisions and in certain cases this could result in serious and costly errors. That’s why it would be absolutely important for people to learn about them, thus increasing their awareness and attention when making decisions. Furthermore, in our research we did find some connection between decisions and the knowledge of economics, people with some knowledge of economics opted for the better solution in bigger proportion

A Study on the Analytics Tool Used in Decision Making at Small and Medium Enterprise

2015 ◽  
Vol 3 (1) ◽  
Author(s):  
Vivek N. Bhatt
Keyword(s):  
Decision Making ◽  
Business Intelligence ◽  
Small And Medium Enterprises ◽  
Small Scale ◽  
Know How ◽  
Decision Making Styles ◽  
Routine Basis ◽  
Medium Enterprise ◽  
Decision Making Processes ◽  
Medium Enterprises

The article focuses on the study of prevailing decision making styles of Small Scale Industrial (SSI) Units. It presents data collected from 200 SSI units from Bhavnagar – a coastal city of Gujarat, India. The objective of writing the article is to depict heuristic decision patterns of small and medium enterprises, and the rare use of analytical or statistical business intelligence tools in decision making processes. It would be interesting to study the design of decision taken on routine basis in small units, poorly equipped with technology and technical know-how. The paper is descriptive in terms, and lays a lucid picture of present decision making processes.

Perceived Effectiveness of Artificial Intelligence based Decision Support System in a Clinical Setting: A Systematic Literature Review (Preprint)

2020 ◽  
Author(s):  
Avishek Choudhury
Keyword(s):  
Artificial Intelligence ◽  
Decision Making ◽  
Decision Support ◽  
Literature Review ◽  
Decision Support System ◽  
Support System ◽  
Clinical Setting ◽  
Clinical Decision Making ◽  
Theoretical Perspective ◽  
Care Providers

UNSTRUCTURED Objective: The potential benefits of artificial intelligence based decision support system (AI-DSS) from a theoretical perspective are well documented and perceived by researchers but there is a lack of evidence showing its influence on routine clinical practice and how its perceived by care providers. Since the effectiveness of AI systems depends on data quality, implementation, and interpretation. The purpose of this literature review is to analyze the effectiveness of AI-DSS in clinical setting and understand its influence on clinician’s decision making outcome. Materials and Methods: This review protocol follows the Preferred Reporting Items for Systematic Reviews and Meta- Analyses reporting guidelines. Literature will be identified using a multi-database search strategy developed in consultation with a librarian. The proposed screening process consists of a title and abstract scan, followed by a full-text review by two reviewers to determine the eligibility of articles. Studies outlining application of AI based decision support system in a clinical setting and its impact on clinician’s decision making, will be included. A tabular synthesis of the general study details will be provided, as well as a narrative synthesis of the extracted data, organised into themes. Studies solely reporting AI accuracy an but not implemented in a clinical setting to measure its influence on clinical decision making were excluded from further review. Results: We identified 8 eligible studies that implemented AI-DSS in a clinical setting to facilitate decisions concerning prostate cancer, post traumatic stress disorder, cardiac ailment, back pain, and others. Five (62.50%) out of 8 studies reported positive outcome of AI-DSS. Conclusion: The systematic review indicated that AI-enabled decision support systems, when implemented in a clinical setting and used by clinicians might not ensure enhanced decision making. However, there are very limited studies to confirm the claim that AI based decision support system can uplift clinicians decision making abilities.

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