An Analysis of Price Spikes and Deviations in the Deregulated Turkish Power Market

dc.contributor.author Gayretli, Gizem
dc.contributor.author Bilge, Ayşe Hümeyra
dc.contributor.author Yücekaya, Ahmet
dc.contributor.author Yücekaya, Ahmet Deniz
dc.contributor.author Bilge, Ayşe Hümeyra
dc.contributor.other Industrial Engineering
dc.date.accessioned 2020-06-29T09:42:20Z
dc.date.available 2020-06-29T09:42:20Z
dc.date.issued 2019
dc.department Fakülteler, Mühendislik ve Doğa Bilimleri Fakültesi, Endüstri Mühendisliği Bölümü en_US
dc.description.abstract The successful operation of a real time market is related to the planning in the day ahead market. We analyze the day ahead and real time market data for the Turkish power market for the period 2012-2015 to classify price spikes and their causes. We also focus on the levels of deviation between the day ahead market values and the real time market values. We define price deviation and load deviation ratios to measure the level of deviation both in price and demand. The analysis for the load is based on load shedding and cycling values. We analyze the mean and standard deviation in market prices and we determine the price spike as a two sigma deviation from the mean value. It is shown that 60% of the price deviation ratios are in the range of ( +/- 20%), while 44% are in the range of ( +/- 10%) and 35% are in the range of (+/- 5%). We also show that 56.9% of the spikes are due to problems in the generation of natural gas based power plants which affect the day ahead and real time prices. A total of 29.2% of the spikes are due to power plant and system failures that affect only real time prices. The share of high temperature based spikes is 13.9% which is a result of air conditioner usage. en_US
dc.identifier.citationcount 5
dc.identifier.doi 10.1016/j.esr.2019.100376 en_US
dc.identifier.issn 2211-467X en_US
dc.identifier.issn 2211-4688 en_US
dc.identifier.issn 2211-467X
dc.identifier.issn 2211-4688
dc.identifier.scopus 2-s2.0-85068751053 en_US
dc.identifier.scopusquality Q1
dc.identifier.uri https://hdl.handle.net/20.500.12469/2968
dc.identifier.uri https://doi.org/10.1016/j.esr.2019.100376
dc.identifier.volume 26 en_US
dc.identifier.wos WOS:000504054700011 en_US
dc.identifier.wosquality Q2
dc.institutionauthor Gayretli, Gizem en_US
dc.institutionauthor Yücekaya, Ahmet en_US
dc.institutionauthor Bilge, Ayşe Hümeyra en_US
dc.language.iso en en_US
dc.publisher Elsevier en_US
dc.relation.journal Energy Strategy Reviews en_US
dc.relation.publicationcategory Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı en_US
dc.rights info:eu-repo/semantics/openAccess en_US
dc.scopus.citedbyCount 12
dc.subject Market clearing price en_US
dc.subject System marginal price en_US
dc.subject Price spike en_US
dc.subject Load shedding en_US
dc.subject Load cycling en_US
dc.title An Analysis of Price Spikes and Deviations in the Deregulated Turkish Power Market en_US
dc.type Article en_US
dc.wos.citedbyCount 7
dspace.entity.type Publication
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