Difference between revisions of "ELECgrid"
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As we speak, Singapore is rolling out its plan for the privatisation of the electricity market. As of now there are as many as 12 electricity retailers competing to sell you their energy package. Each retailer charges a price lower than the tariff price set by Singapore Power which is the de facto energy retailer unless you make the effort to switch to private electricity retailers. These retailers are competing on low prices to woe consumers to switch to a private retailer. One of the business challenges faced by these retailers is the lack of accurate demand forecast for electricity. These retailers do not produce electricity, instead, they bulk purchase electricity from electricity generating companies and subsequently sell the electricity to their customer. A poor forecast of demand of electricity results in electricity being wasted and revenue lost. | As we speak, Singapore is rolling out its plan for the privatisation of the electricity market. As of now there are as many as 12 electricity retailers competing to sell you their energy package. Each retailer charges a price lower than the tariff price set by Singapore Power which is the de facto energy retailer unless you make the effort to switch to private electricity retailers. These retailers are competing on low prices to woe consumers to switch to a private retailer. One of the business challenges faced by these retailers is the lack of accurate demand forecast for electricity. These retailers do not produce electricity, instead, they bulk purchase electricity from electricity generating companies and subsequently sell the electricity to their customer. A poor forecast of demand of electricity results in electricity being wasted and revenue lost. | ||
| − | Our project aims to | + | Our project aims to estimate the total monthly electricity consumption per housing units to provide these electricity retailers a picture of how much electricity is needed in the grid. |
| − | + | To achieve that We will be using 2 different techniques: | |
| − | We will be using 2 different techniques: | ||
<ul>1. Small area estimate</ul> | <ul>1. Small area estimate</ul> | ||
<ul>2. Geographic segmentation with spatially constrained cluster analysis </ul> | <ul>2. Geographic segmentation with spatially constrained cluster analysis </ul> | ||
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Revision as of 14:44, 3 March 2019
| Group Members |
| Project Description |
As we speak, Singapore is rolling out its plan for the privatisation of the electricity market. As of now there are as many as 12 electricity retailers competing to sell you their energy package. Each retailer charges a price lower than the tariff price set by Singapore Power which is the de facto energy retailer unless you make the effort to switch to private electricity retailers. These retailers are competing on low prices to woe consumers to switch to a private retailer. One of the business challenges faced by these retailers is the lack of accurate demand forecast for electricity. These retailers do not produce electricity, instead, they bulk purchase electricity from electricity generating companies and subsequently sell the electricity to their customer. A poor forecast of demand of electricity results in electricity being wasted and revenue lost.
Our project aims to estimate the total monthly electricity consumption per housing units to provide these electricity retailers a picture of how much electricity is needed in the grid.
To achieve that We will be using 2 different techniques:
- 1. Small area estimate
- 2. Geographic segmentation with spatially constrained cluster analysis
