Database Programming - Deregulated Electricity Market - Engineering Assignment Help

Assignment Task :

Overview 

There is considerable activity in the electricity industry at the moment with the NSW Governments recent privatization the retail electricity industry. NSW has joined Victoria, South Australia, Queensland and Tasmania to become part of the deregulated Electricity market. 

As a result, electricity retailers will be canvassing existing customers to sign up with them and have their electricity supplied by them. The reality of course is that the customers’ electricity will still be produced by the same generators and delivered to the customers’ home by the same distribution network. What will change though is who will be responsible to ensure that the correct volume of electricity is produced to satisfy demand and who will be the billing agent that the clients will pay their electricity bills to. 

In order to make the electricity market function, all the retailers and generators participate in what is known as an Electricity Market. 

The market is a pool where the producers bid to supply and the retailers bid to buy from to supply their customers. This pool is managed and controlled by a government authority called AEMO (Australian Energy Market Operator). The buying and selling of the electricity is done by electricity traders working for the various Energy companies like Energy Australia, Origin, Alinta, TRUEnergy and many others. 

The bidding process by the sellers and buyers is what determines the electricity price and this price is set at 5 minute intervals. AEMO aggregates the 5 minute prices into half hour intervals and publishes these prices continually. 

The electricity traders need to be able to determine as accurately as possible what will be the total consumption for their consumers is in order to be able to purchase the right amount of energy and capitalize on market fluctuations at each one of the half hour intervals. 

Your Task The electricity traders are required to bid into the market daily for the amount of electricity that is to be purchased to satisfy the customer demand. As the traders bid into the market, AEMO will instruct a generator to produce that amount of electricity. This means that the trader (on behalf of the retailer) will have to pay for the generated energy, whether it is used or not. Likewise heavy penalties are imposed on retailers if they do not balance their consumption with the generated volume. For that reason, the estimation of the volume of energy to be consumed is critical to the profitability or the organization. In order to minimize the risk to the organization, your task is to 

• Forecast the energy requirements for each TNI, LR, FRMP combination, daily at each half hour interval. 

• Your forecast should be calculated for two weeks into the future. 

• The forecast should be for each TNI, LR, FRMP at each of the 48 half hour intervals 

• Each forecast record that you create should have the STATEMENT_TYPE marked as FORECAST 

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