Medium-term Electricity Price Forecasting
Paper in proceedings, 2012

-Medium-term price forecasting plays an impor­tant role in electricity markets. Obtaining reasonably accurate medium-term electricity price predictions is critical in many applications, such as maintenance scheduling, generation ex­pansion planning, and bilateral contracting. Medium-term price forecasting is a complex task because of the long forecasting horizon, dependence of medium-term electricity prices to various variables, and limited availability of explanatory data. In this paper, different aspects of a medium-term electricity price fore­casting are discussed, and several data-driven 12-month-ahead approaches are developed. The presented approaches are applied to NordPool and the Ontario electricity market to examine their performance and effectiveness.

Electricity markets

medium-term forecasting

price forecasting

Author

Shahab Torghaban

Delft University of Technology

Amir Motamedi

Alberta Electric System Operator (AESO)

Hamidreza Zareipour

University of Calgary

Anh Tuan Le

Chalmers, Energy and Environment, Electric Power Engineering

North American Power Symposium (NAPS) 2012, 9-11 Sept. 2012, IL, USA

6336424

Areas of Advance

Energy

Subject Categories

Other Electrical Engineering, Electronic Engineering, Information Engineering

DOI

10.1109/NAPS.2012.6336424

ISBN

978-1-4673-2307-9

More information

Latest update

5/14/2018