Medium-term Electricity Price Forecasting
Paper in proceeding, 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
Published in
North American Power Symposium (NAPS) 2012, 9-11 Sept. 2012, IL, USA
art. no 6336424
978-1-4673-2307-9 (ISBN)
Categorizing
Areas of Advance
Energy
Subject Categories (SSIF 2011)
Other Electrical Engineering, Electronic Engineering, Information Engineering
Identifiers
DOI
10.1109/NAPS.2012.6336424
ISBN
978-1-4673-2307-9