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dc.contributor.advisorHyytinen Ari
dc.contributor.authorParkkonen, Olli
dc.date.accessioned2016-11-28T07:59:41Z
dc.date.available2016-11-28T07:59:41Z
dc.date.issued2016
dc.identifier.otheroai:jykdok.linneanet.fi:1643944
dc.identifier.urihttps://jyx.jyu.fi/handle/123456789/52033
dc.description.abstractThe increasing share of renewable energy sources is likely to lead to price effects in Nordic electricity market, resulting especially in increased volatility of spot and imbalance prices. The greater price volatility and amount of required balancing power increase the need for Demand-Side Management (DSM) in the electricity market and may as well increase the financial benefits of DSM participants. In this research I study the DSM in electricity mar-ket and evaluate how large the financial benefits of DSM participants could be. Monte Carlo simulation method is used to simulate imbalance prices with different volatilities for Finland and Sweden. The results show that increasing volatility may in some cases lead to substantial cost savings and additional revenues for the DSM participants. The revenues are higher in Finland compared to Sweden due to higher volatility of prices in the Finnish balancing power market. Lower threshold price (i.e. the lower opportunity cost of shifting or adjusting electricity demand) and higher flexible load capacity will in-crease the revenue obtainable from the DSM participation. However, there is a feedback effect, since the more DSM programs there are in the market, the less volatile the prices are likely to be. The magnitude of this effect, as well as that of the rebound effect (i.e. increased demand due to lower prices), is hard to quantify. If these feedback effects are large, cost savings and additional revenues for the DSM participants may be considerably smaller than what is documented in this study. I also discuss other limitations of the study.en
dc.format.extent1 verkkoaineisto (65 sivua)
dc.format.mimetypeapplication/pdf
dc.language.isoeng
dc.rightsJulkaisu on tekijänoikeussäännösten alainen. Teosta voi lukea ja tulostaa henkilökohtaista käyttöä varten. Käyttö kaupallisiin tarkoituksiin on kielletty.fi
dc.rightsThis publication is copyrighted. You may download, display and print it for Your own personal use. Commercial use is prohibited.en
dc.subject.otherDemand-Side Management
dc.subject.otherNordic electricity market
dc.subject.otherMonte Carlo simulation
dc.subject.otherMarket volatility
dc.subject.otherBalancing power
dc.subject.otherRenewable energy sources
dc.titleCustomer benefits of demand-side management in the Nordic electricity market
dc.identifier.urnURN:NBN:fi:jyu-201611284797
dc.type.ontasotPro gradu -tutkielmafi
dc.type.ontasotMaster’s thesisen
dc.contributor.tiedekuntaKauppakorkeakoulufi
dc.contributor.tiedekuntaSchool of Business and Economicsen
dc.contributor.laitosTaloustieteetfi
dc.contributor.laitosBusiness and Economicsen
dc.contributor.yliopistoUniversity of Jyväskyläen
dc.contributor.yliopistoJyväskylän yliopistofi
dc.contributor.oppiaineKansantaloustiedefi
dc.contributor.oppiaineEconomicsen
dc.date.updated2016-11-28T07:59:42Z
dc.rights.accesslevelopenAccessfi
dc.type.publicationmasterThesis
dc.contributor.oppiainekoodi2041
dc.subject.ysouusiutuvat energialähteet
dc.subject.ysosähkömarkkinat
dc.subject.ysoMonte Carlo -menetelmät
dc.format.contentfulltext
dc.type.okmG2


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