In the first lecture, we will talk about the many changes that are occurring in electricity markets with an emphasis on the expansion of renewables with stronger climate policies and cheaper costs. We will also start to explain how electricity markets work in more detail.
In the practical session, we will get familiar with a dataset of electricity market hourly data, and analyze the impact that wind is having on this market. We will also learn about the richness of electricity data, and how to simplify it.
Slides 1: slides1.pdf
Slides 2: slides2.pdf
Practicum 1: practicum1.ipynb, data_spain.csv, practicum1_slides.pdf
Practicum 2: practicum2.ipynb, data_jaere.csv, practicum2_slides.pdf
Small assignement: Take the data from practicum 1 and apply the clustering algorithm from practicum 2. Can you replicate some of the results using a regression in the clustered dataset? Why or why not? Note: It is important that you use a weighted regression.
❗ Save the Jupyter notebook (.ipynb) and the data CSV file in the same folder. Then, open the Jupyter Notebook to start exploring.
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(*) Petersen, C., Reguant, M. & Segura, L. (2021) Measuring the Impact of Wind Power: Output- vs. Capacity-based Subsidies. Energy Economics