Characterizing Energy Spot-Price Data as a Proxy for Demand
摘要
Spot-price information from an energy market is a readily available signal in many locations. This information acts as a reasonable proxy for real-time demand data, data that is critical to any flexible demand strategy. This data is inherently random in nature, and in this note we develop a framework for describing daily fluctuations in a simple manner where prices at a particular settlement time can be estimated by draws from a posterior predictive distribution.