Difference between revisions of "ELECgrid"
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| − | [[ | + | [[ELECgrid | <font face="Arial" color="#040F3D" size=2><b>TEAM</b></font>]] |
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| − | [[ | + | [[Proposal | <font color="#040F3D" size=2><b>PROPOSAL</b></font>]] |
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| − | [[ | + | [[Poster | <font color="#040F3D" size=2><b>POSTER</b></font>]] |
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| − | [[ | + | [[Research| <font color="#040F3D" size=2><b>RESEARCH PAPER</b></font>]] |
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Revision as of 00:03, 28 February 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 find more out precisely, down to the postal code level, the average demand of electricity to provide these electricity retailers a picture of how much electricity is needed in the grid.
We will be using 2 different techniques:
- 1. Small area estimate
- 2. Geographic segmentation with spatially constrained cluster analysis
