Harnessing business intelligence in smart grids: A case of the electricity market

Abstract

This paper discusses analytical aspects of smart grids and offers insights into the development of a business intelligence solution for the electricity market. The goal is to design a system that provides an emerging electricity market with the necessary data flows and information for forecasting, data analysis and decision making, leading to better business results and more control over the market. By employing a methodology specifically suited to the electricity market domain, we designed a business intelligence solution for the Serbian electricity market operator "Elektromreia Srbije". The research results show that the proposed approach leads to more effective market management in data-rich smart grid environments, while still being dynamic enough to adapt to frequent rule changes in the still developing grids and their markets.