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Manuel Zamudio López, Hamidreza Zareipour and Mike Quashie
This research proposes an investigative experiment employing binary classification for short-term electricity price spike forecasting. Numerical definitions for price spikes are derived from economic and statistical thresholds. The predictive task employ...
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Daniel Manfre Jaimes, Manuel Zamudio López, Hamidreza Zareipour and Mike Quashie
This paper proposes a new hybrid model to forecast electricity market prices up to four days ahead. The components of the proposed model are combined in two dimensions. First, on the ?vertical? dimension, long short-term memory (LSTM) neural networks and...
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Denis E. Baskan, Daniel Meyer, Sebastian Mieck, Leonhard Faubel, Benjamin Klöpper, Nika Strem, Johannes A. Wagner and Jan J. Koltermann
In recent years, energy prices have become increasingly volatile, making it more challenging to predict them accurately. This uncertain market trend behavior makes it harder for market participants, e.g., power plant dispatchers, to make reliable decisio...
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Tiago Silveira Gontijo,Marcelo Azevedo Costa,Rafael Isaac dos Santos,Rodrigo Barbosa de Santis
Developing forecasting models is a difficult task. Particularly concerning electricity prices, accurately predicting their forthcoming values makes it possible to minimize planning risks. This fact becomes even more relevant in the current geopolitical s...
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Arne Vogler and Florian Ziel
The present paper considers the problem of choosing among a collection of competing electricity price forecasting models to address a stochastic decision-making problem. We propose an event-based evaluation framework applicable to any optimization proble...
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Sajjad Khan, Shahzad Aslam, Iqra Mustafa and Sheraz Aslam
Day-ahead electricity price forecasting plays a critical role in balancing energy consumption and generation, optimizing the decisions of electricity market participants, formulating energy trading strategies, and dispatching independent system operators...
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Stephen Haben, Julien Caudron and Jake Verma
The energy sector is moving towards a low-carbon, decentralised, and smarter network. The increased uptake of distributed renewable energy and cheaper storage devices provide opportunities for new local energy markets. These local energy markets will req...
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Belén Vega-Márquez, Cristina Rubio-Escudero, Isabel A. Nepomuceno-Chamorro and Ángel Arcos-Vargas
The importance of electricity in people?s daily lives has made it an indispensable commodity in society. In electricity market, the price of electricity is the most important factor for each of those involved in it, therefore, the prediction of the elect...
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Daniel Ramos, Mahsa Khorram, Pedro Faria and Zita Vale
Energy efficiency topics have been covered by several energy management approaches in the literature, including participation in demand response programs where the consumers provide load reduction upon request or price signals. In such approaches, it is ...
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Zezheng Zhao, Chunqiu Xia, Lian Chi, Xiaomin Chang, Wei Li, Ting Yang and Albert Y. Zomaya
From the perspective of energy providers, accurate short-term load forecasting plays a significant role in the energy generation plan, efficient energy distribution process and electricity price strategy optimisation. However, it is hard to achieve a sat...
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