Application of a New Hybrid Method for Day-Ahead Energy Price Forecasting in Iranian Electricity Market

Day-ahead Price Forecasting of Electricity Markets by a New Hybrid Forecast Method

Energy price forecast is the key information for generating companies to prepare their bids in the electricity markets. However, this forecasting problem is complex due to nonlinear, non-stationary, and time variant behavior of electricity price time series. Accordingly, in this paper a new strategy is proposed for electricity price forecast. The forecast strategy includes Wavelet Transform (WT...

day-ahead price forecasting of electricity markets by a new hybrid forecast method

energy price forecast is the key information for generating companies to prepare their bids in the electricity markets. however, this forecasting problem is complex due to nonlinear, non-stationary, and time variant behavior of electricity price time series. accordingly, in this paper a new strategy is proposed for electricity price forecast. the forecast strategy includes wavelet transform (wt...

Price Eastimation for Day-ahead Electricity Market Using Fuzzy Logic

Price estimation is becoming increasingly relevant to producers and consumersin the new competitive electric power markets. Both for spot markets and short termcontracts, price forecasts are necessary to develop bidding strategies in order to maximizetheir benefits and utilities, respectively. Price estimation has become a very valuable toolin the current upheaval of electricity market deregula...

A Hybrid Artificial Neural Network and VEPSO based on Day-ahead Price Forecasting of Electricity Markets

In this paper a new Hybrid technique of Artificial Neural Network (ANN) and Vector Evaluated Particle Swarm Optimization (VEPSO) is presented as a forecasting strategy for day-ahead price of electricity market. The proposed technique the proposed intelligent technique is applied to weights and bias of ANN to improve the learning capability through the minimum error. A comprehensive comparative ...

Forecasting day ahead electricity price using ARMA methods

Price Forecasting in the Day-Ahead Energy Market by an Iterative Method with Separate Normal Price and Price Spike Frameworks

A forecasting methodology for prediction of both normal prices and price spikes in the day-ahead energy market is proposed. The method is based on an iterative strategy implemented as a combination of two modules separately applied for normal price and price spike predictions. The normal price module is a mixture of wavelet transform, linear AutoRegressive Integrated Moving Average (ARIMA) and ...