2015
MAS 2015 Proceeding
Monte Carlo simulation used for the electricity supplier selection
Authors: Martina Kuncova, Jana Seknickova
Abstract
One of the very important commodities that affect our life is electricity. The costs related to the electricity consumption are significant and so each subject (e.g. household or company) has to consider carefully which electricity supplier is the most suitable with respect to the minimal costs. The electricity price is influenced by the region where the subject chooses the suppliers, by the amount of the electricity consumption and by the electricity prices given by the regulatory office. The transformation of the electricity market in the Czech Republic has led to the increasing number of suppliers offering this commodity to households and companies. The aim of this paper is to select such a supplier that minimizes total costs of the electricity for given household and given tariff rate. As a tool we use Monte Carlo simulation for the electricity consumption.
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