Title :
Market simulation for LMP forecasting
Author :
Frowd, Rod ; Papalexopoulos, Alex
Author_Institution :
ECCO Int., Brisbane, QLD, Australia
Abstract :
This paper presents the methodology for performing market simulations for locational marginal price (LMP) forecasting in nodal energy markets. The modeling formulation of the market simulation is provided in t he paper along with insights about factors that mainly influence the LMP prices in nodal energy markets. Representative numerical results from the application of the proposed methodologies on the actual California system and the Greek National market are also presented.
Keywords :
economic forecasting; power markets; pricing; California system; Greek National market; locational marginal price forecasting; market simulation; nodal energy markets; Analytical models; Economic forecasting; Equations; Fuels; Investments; Load flow; Load forecasting; Predictive models; Pricing; Propagation losses; FTR/CRR allocation and auction; Financial Transmission Rights; Locational Marginal Pricing; Point-to-Point FTRs/CRRs; Wholesale competitive market; hedging;
Conference_Titel :
Power & Energy Society General Meeting, 2009. PES '09. IEEE
Conference_Location :
Calgary, AB
Print_ISBN :
978-1-4244-4241-6
DOI :
10.1109/PES.2009.5275346
