Neural networks and wavelet transform for short-term electricity prices forecasting

• Type: Article in International Scientific Journal
• Date: 2010

Authors

Catalao, JPS (Author) Other; Pousinho, HMI (Author) Other; Mendes, V (Author) Other

Journal

Title: Engineering Intelligent Systems

Vol. 18

Pages: 105-112

ISSN: 1472-8915

Indexing

Scopus - 9 Citations

Other information

Authenticus ID: P-007-XWJ

Abstract (EN): This paper proposes neural networks in combination with wavelet transform for short-term electricity prices forecasting. In the new deregulated framework, producers and consumers require short-term price forecasting to derive their bidding strategies to the electricity market. Accurate forecasting tools are required for producers to maximize their profits and for consumers to maximize their utilities. The accuracy of the price forecasting attained with the proposed approach is thoroughly evaluated, reporting the numerical results from a real-world case study based on the electricity market of mainland Spain. © 2010 CRL Publishing Ltd.

Language: English

Type (Professor's evaluation): Scientific