Modelling Real-Time Pricing of Electricity for EnergyConservation Measures in the UK Commercial Sector
File(s)
Accepted version
Author(s)
Acha Izquierdo, S
Bustos-Turu, G
Shah, N
Type
Conference Paper
Abstract
Electricity bills in the UK are increasing year after year due to power market conditions and they will most likely continue to rise. These high costs are reducing the profitability of businesses and thus efforts on understanding and mitigating these charges are a key concern for companies in order to improve their bottom line. This paper focuses on detailing a comprehensive bottom-up model of electricity commercial bills that generates real-time price curves; thus allowing customers to comprehend the true cost of the electricity they consume. The model provides profiles for different UK regions across various seasons. These insights are valuable because they can be used to inform more accurately energy efficiency programs in terms such as return on investment. By knowing where energy is more expensive it makes it easier to prioritize investments. Results overall show Yorkshire has the highest rates, while the South West has the most expensive peaks. Meanwhile, London and Southern England have the cheapest rates.
Date Issued
2016-04-08
Date Acceptance
2016-01-04
Citation
2016 IEEE International Energy Conference (ENERGYCON), 2016
Publisher
IEEE
Journal / Book Title
2016 IEEE International Energy Conference (ENERGYCON)
Copyright Statement
© 2016 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.
Sponsor
Sainsbury's Supermarkets Ltd
Grant Number
CEPSE_P57236
Source
Energycon 2016
Publication Status
Published
Start Date
2016-04-04
Finish Date
2016-04-08
Coverage Spatial
Leuven