Title :
Energy constrained generation dispatch based on price forecasts including expected values and risk
Author :
Sansom, Damien C. ; Saha, Tapan K.
Author_Institution :
Sch. of Inf. Technol. & Electr. Eng., Queensland Univ., Qld., Australia
Abstract :
A number of price forecasting methods are used to forecast wholesale (spot) electricity prices. The forecasts are evaluated for both accuracy and variation in accuracy (risk). These forecasts are used to balance revenue against forecasting error risk in dispatching constrained generation. The best dispatch method found was based on the half-hours with the maximum demand.
Keywords :
power generation dispatch; power generation economics; pricing; risk analysis; constrained generation dispatch; error risk forecasting; price forecasting method; wholesale electricity price; Delay effects; Dispatching; Economic forecasting; Electricity supply industry; Frequency; Load forecasting; Neural networks; Predictive models; Support vector machines; Testing;
Conference_Titel :
Power Engineering Society General Meeting, 2004. IEEE
Print_ISBN :
0-7803-8465-2
DOI :
10.1109/PES.2004.1372796
