DocumentCode
1126726
Title
When Supply Meets Demand: The Case of Hourly Spot Electricity Prices
Author
Boogert, Alexander ; Dupont, Dominique
Author_Institution
Univ. of London, London
Volume
23
Issue
2
fYear
2008
fDate
5/1/2008 12:00:00 AM
Firstpage
389
Lastpage
398
Abstract
We use a supply-demand framework to model the hourly day-ahead price of electricity (the spot price) based on publicly available information. With the model we can forecast the level and probability of a spike in the spot price defined as the spot price above a certain threshold. Several European countries have recently started publishing day-ahead forecasts of the available supply. This paper shows this forecasted capacity is quite successful in predicting spot price movements 24 h ahead.
Keywords
power markets; day-ahead forecasts; forecasted capacity; hourly spot electricity prices; publicly available information; supply-demand framework; Available capacity; day-ahead electricity market; price forecasting;
fLanguage
English
Journal_Title
Power Systems, IEEE Transactions on
Publisher
ieee
ISSN
0885-8950
Type
jour
DOI
10.1109/TPWRS.2008.920731
Filename
4484956
Link To Document