Title :
Short-term forecasting of day-ahead electricity market price
Author :
Menniti, Daniele ; Scordino, Nadia ; Sorrentino, Nicola ; Violi, Antonio
Author_Institution :
Dept. of Electron., Comput. & Syst. Sci., Univ. of Calabria, Arcavacata of Rende, Italy
Abstract :
A very important task in electricity market operation is to forecast day ahead market price in order to implement adequate bidding strategies. In this direction, this paper proposes a technique to forecast day-ahead electricity prices based on the mean reverting process, using a properly fitted model. Results from the electricity market of Italy during year 2009 are finally reported.
Keywords :
power markets; bidding strategy; day-ahead electricity market price; properly fitted model; short-term forecasting; Biological system modeling; Computational modeling; Silicon; Electricity Market; price forecasting; risk management; stochastic programming;
Conference_Titel :
Energy Market (EEM), 2010 7th International Conference on the European
Conference_Location :
Madrid
Print_ISBN :
978-1-4244-6838-6
DOI :
10.1109/EEM.2010.5558771
