Forecasting prices of electricity on HUPX

The development of new simulation techniques by using Artificial Intelligence (AI) has become an improved tool to better forecast energy prices. This paper demonstrates building and validating a short term model for Hungarian day ahead power market - HUPX electricity price forecasting. This models takes into account multiple sources of information; the data set used is a table of historical hourly loads, electricity prices and other regional information´s. Paper is discussing the application of intelligent systems to short term electricity prices forecasting and outlining proposed research direction.