Forecasting Day-Ahead Electricity Prices of Singapore
through ARIMA and Wavelet-ARIMA
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The changes observed in the electricity markets over the past decade brought about developments in the field of electricity modelling. In this book, traditional ARIMA models and Wavelet-ARIMA models are applied to the Singapore electricity market, Asia's first liberalized electricity market. Forecasting will be done for each electricity price modelling technique and the adequacy of the models is tested through forecast accuracy. The comparison of forecast accuracy of the models is done across different data behaviors.
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