Forecasting electricity prices in spot markets- One week horizon approach

• Type: Article in International Conference Proceedings Book
• Date: 2009

Authors

J. N. Fidalgo (Author) FEUP; J. T. Saraiva (Author) FEUP; A. F. Duarte (Author) Other

Conference proceedings International

Title: IEEE Bucharest PowerTech Conference

Pages: 1-6

IEEE Bucharest PowerTech Conference

Bucharest – Romania., 28 de Junho a 02 de Julho de 2009

Indexing

ISI Web of Knowledge - 0 Citations

ISI Web of Science

Scopus - 4 Citations

INSPEC

Scientific classification

FOS: Engineering and technology > Electrical engineering, Electronic engineering, Information engineering

CORDIS: Technological sciences > Engineering > Electronic engineering

Other information

Authenticus ID: P-003-SRJ

DOI: 10.1109/PTC.2009.5282124

Abstract (EN): This paper describes the methodology developed to build estimates of electricity prices having the horizon of one week. This approach uses artificial neural networks and includes a particular treatment of weekends and national holidays as a way to improve the quality of the results. The developed approach was tested using data obtained from the Spanish market operator for the time period of 2006 to 2008. The obtained value of MAPE - Mean Absolute Percentage Error - was 12,62% for workdays and 10,73% for holidays and weekends. The obtained results show that this study has interest to the market agents in question, since realistic forecasting was achieved.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 6