ELECTRICITY MARKET CLEARING PRICE FORECASTING IN A DEREGULATED MARKET

ELECTRICITY MARKET CLEARING PRICE FORECASTING IN A DEREGULATED MARKET

A Neural Network Approach

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Electricity market clearing price (MCP) forecasting is a prediction of future electricity price based on given forecast of electricity demand, temperature, sunshine, fuel cost, precipitation and other related factors. This book presents a mid-term electricity MCP forecasting technique utilizing neural network approach. Forecasting of mid-term MCP is essential for decision making, scheduling and bidding strategy planning purposes. However, forecasting mid-term electricity market clearing price is a very complex non-linear problem. Neural network based approaches can be effective forecasting too...