Correlation of consumption and price in the wholesale electric power market of Russia

Project participants:

- Evgeniya Popova (project manager)

- Evgeny Ozhegov

Abstract:

Today studying of manufacturers’ and consumers’ behavior in competitive wholesale market of Russia under conditions of forming of equilibrium price is an important topic for power generation industry. In particular, the factors which form the demand for electric power are of special interest. They include meteorological indices (for example, ambient temperature), electrical transmission network. Taking these indices into account will allow the consumers to adjust their power consumption in order to reduce their costs. We would also like to note that such studies have never been carried out for Russian power market.

Setting the research questions:

- How does electric power consumption correlate with such meteorological indices as ambient temperature, air humidity and wind speed?