Power Futures Price Forecasting Based on RBF Neural Network

In order to forecast power futures price exactly, a radial basis function neural network (RBF NN) method is used in this paper. The RBF NN method has the advantages of rapid training, generality and simplicity over feed-forward neural network. The data of Nordic electricity market is adopted for case analysis. Empirical results reveal that the RBF NN method has a more accurate result than back-propagation neural network (BP NN) method. The RBF NN method can effectively forecast power futures price.