AbstractThe global textile industry is undergoing a significant transformation fueled by digital advancements, shifts in consumer behavior, and evolving market dynamics. This study investigates how digital platforms, such as e-commerce and customer relationship management (CRM) systems, can enhance operational efficiency, customer engagement, and market positioning for textile companies. Through the integration of primary data from focus groups and surveys, as well as secondary data from industry reports, this research identifies key strategies for digital adoption and market competitiveness. Using Company A as a case study, this paper explores how digital tools can address current industry challenges and foster growth in a competitive landscape. The findings reveal that implementing CRM systems significantly improves customer retention and personalized services, while adopting e-commerce platforms reduces operational inefficiencies and expands market reach. These results contribute to understanding the role of digital transformation in traditional industries, particularly with respect to customer engagement, branding, and operational optimization.

This paper proposes a game-theoretic framework for quantifying effects of strategic bidding behavior of load aggregators (LAs) on wholesale electricity market equilibrium. The independent system operator (ISO) employs double-sided auction design to settle transactions in the wholesale electricity market. Generating companies (GENCOs) and LAs submit their bids to the ISO in the economic model of supply function equilibrium. Under the smart grid paradigm, a LA participates in the electricity market on behalf of end-consumers to minimize their total payment for purchasing electricity. In this paper, bi-level programming (BLP) method is employed to determine optimal bidding strategy of self-interested market participants. In the upper level, the profit of intended market participant is maximized and in the lower level, the ISO clears the market via a bid-based security constrained economic dispatch (SCED). Also, competition of GENCOs and LAs is modeled as a non-cooperative game. To examine the effects of strategic bidding behavior of LAs on market equilibrium, the proposed model is applied to the IEEE 9-bus and the IEEE 30-bus test systems. According to numerical results, to allow the LAs to behave strategically along with the GENCOs makes the former better off and the latter worse off, while the net effect of this on total social welfare turns out to be case-contingent.

Renewable energy sources are increasingly crucial for meeting global energy demands in an eco-friendly manner, particularly as the world shifts away from fossil fuels and faces higher volatility of the market prices. Portugal, a country with limited fossil fuel reserves and high energy dependency, has heavily invested in renewables in recent years. However, renewables like sunlight, wind, and water are inherently unsteady due to climate influences, resulting in energy production fluctuations. To mitigate this issue, energy storage systems are being deployed to stabilize renewable energy supply during production lulls. This project aims to assess an energy storage system and define technical specification in order to maximize profitability at the Finerge-owned Alto Douro wind farm. To achieve this, we've conducted an energy demand analysis, followed by simulations to assess system performance in relation to energy use and profit, while varying parameters such as power and efficiency. We've also compared commercial proposals from different battery manufacturers utilizing various technologies. Our findings suggest that high-power, quick charge-discharge lithium-ion batteries are the most suitable solution, given their efficiency and modularity. These attributes are vital for achieving current and future profitability.

In modern and dynamic electricity market, ensuring reliable, sustainable and efficient electricity distribution are pillars of primary importance for grid operation. The high penetration of renewable energy sources and the formation of competitive prices for utility, play a critical role in the wider economic development. Electricity load and price forecasting has been a key focus of researchers in the last decade due to the substantial economic implications for both producers, aggregators and end consumers. Many forecasting techniques and methods have emerged during this period. This paper conducts a extensive and analytical review of the prevailing load and electricity price forecasting methods in the context of the modern wholesale electricity market. The study is separated into three main sections. First, the first section delves into the workings of the electricity market, providing a detailed analysis of the three markets that have evolved, their functions and the key factors influencing overall market dynamics. The second section offers a comprehensive review of the existing literature focusing on load forecasting, highlighting various methodologies, models and their applications in load demand forecasting. This section emphasizes the advances that have been made in all categories of forecasting models and their practical application in different market scenarios. The third section focuses on electricity price forecasting methods, summarizing important research papers investigating various modeling approaches to price forecasting. By examining both traditional and cutting-edge forecasting methods, this review identifies key trends, challenges, and future directions in the field. Overall, this paper provides an in-depth analysis leading to the understanding of the state-of-the-art models in load and price forecasting, being an important resource for researchers and professionals in the energy industry.

The purpose of this paper is to summarize and share the field experiment results of KEPCO's project consortium to create a TSO-DSO-DERA interaction scheme. The field experiment was conducted based on the prequalification algorithm proposed in the previous research from the same consortium and was designed to verify the validity of the algorithm under realistic grid conditions. In addition, during the course of the field experiment, it was found that points that were missed or not given much importance in the existing prequalification algorithm could affect the completeness of the overall system, and then practical improvements were made to improve it. The demonstration results confirm that the proposed algorithm is effective in real-world grid environments and can help DSOs ensure the reliability of the distribution system while supporting DERA's participation in the wholesale market using the proposed prequalification scheme.

In recent years, the global energy sector has seen significant transformation, particularly in Europe, with a notable increase in intermittent renewable energy integration. Italy and the European Union (EU) have been among the leaders in this transition, with renewables playing a substantial role in electricity generation as of mid-2020s. The adoption of Battery Energy Storage Systems (BESS) has become crucial for enhancing grid efficiency, sustainability, and reliability by addressing the intermittent renewable sources. This paper investigates the feasibility and economic viability of batteries into wholesale electricity markets as per EU regulation, focusing on the dynamics of very different markets, namely the Day-Ahead Market (DAM) based on system marginal price and the Cross-Border Intra-day Market (XBID) based on continuous trading. A novel model is proposed to enhance BESS operations, leveraging price arbitrage strategies based on zonal price predictions, levelized cost of storage (LCOS), and uncertain bid acceptance in continuous trading. Machine learning and deep learning techniques are applied for price forecasting and bid acceptance prediction, respectively. The study finds that data-driven techniques outperform reference models in price forecasting and bid acceptance prediction (+7-14% accuracy). Regarding market dynamics, the study reveals a higher competitiveness of the continuous market compared to the DAM, particularly with increased risk factor in bids leading to higher profits. This research provides insights into compatibility between continuous markets and BESS, showing substantial improvements in economic profitability and the correlation between risk and profits in the bidding strategy (+9 M€ yearly revenues are obtained with a strategic behavior that reduces by 60% awarded energy).

Semantic rules link purely theoretical terms like “price” and “electron” to things we can measure. Without them, theories cannot be tested empirically. When inappropriate, they produce false rejections. Economists routinely ignore semantic rules. Empirical journal articles essentially never mention them. More to the point, the conventional tests that reject the Law of One Price and Purchasing Power Parity never consider them. As a result, those rejections are unwarranted because such tests use inappropriate semantic rules. Both theories should be restored to not rejected and then retested using the more appropriate semantic rules described here. By using appropriate semantic rules, this paper is able to combine Covered Interest Parity and Purchasing Power Parity into a single theory that links auction markets for financial assets and commodities to auction markets for exchange rates. Using appropriate semantic rules for both theories also explains several puzzles in open economy macroeconomics and opens up broad new vistas for research.

Uncertain price movement in staple food commodities puts agrarian economies at risk if not monitored and managed consistently. Hence, an attempt has been made to analyze the price behavior and integration across major wholesale and retail markets for rice and wheat in India. Monthly data (July 2000 to June 2022) on prices viz., wholesale and retail were sourced from the Food and Agriculture Organization and analyzed using growth rate, instability index, seasonal price index, Johansen’s test on cointegration, Granger causality test, and impulse response function. Findings indicated strong evidence of price dynamics in the selected markets in terms of spatial and temporal variation, clear-cut seasonality linking to production, and price divergence between wholesale and retail markets. Johansen’s test indicated a strong integration between wholesale and retail markets exhibiting unidirectional-, bidirectional- and no-causality. Impulse response analysis revealed that the selected wheat and rice markets are efficient in terms of ‘price discovery’ which takes place initially in the wholesale market, and then transmitted to the retail market. The study advocates decision-making information to the producers, traders, and consumers who have a potential interest in getting advantage of the price movement. It is concluded that strengthening market intelligence and reducing the distortion in markets will improve the existing overall performance.