Electricity market clearing price (MCP) forecasting is a prediction of future electricity price based on given forecast of electricity demand, temperature, sunshine, fuel cost, precipitation and other related factors. This book presents a mid-term electricity MCP forecasting technique utilizing neural network approach. Forecasting of mid-term MCP is essential for decision making, scheduling and bidding strategy planning purposes. However, forecasting mid-term electricity market clearing price is a very complex non-linear problem. Neural network based approaches can be effective forecasting tools in an environment with high degree of non-linearity and uncertainty. Two new artificial neural networks have been proposed and reported in this book that can be utilized to forecast mid-term daily peak and mid- term hourly electricity market clearing price. Two situations have been considered; market clearing price forecasting under real deregulated electric market and under deregulated electric market with perfect competition.
ELECTRICITY MARKET CLEARING PRICE FORECASTING IN A DEREGULATED MARKET
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Description
Electricity market clearing price (MCP) forecasting is a prediction of future electricity price based on given forecast of electricity demand, temperature, sunshine, fuel cost, precipitation and other related factors. This book presents a mid-term electricity MCP forecasting technique utilizing neural network approach. Forecasting of mid-term MCP is essential for decision making, scheduling and bidding strategy planning purposes. However, forecasting mid-term electricity market clearing price is a very complex non-linear problem. Neural network based approaches can be effective forecasting tools in an environment with high degree of non-linearity and uncertainty. Two new artificial neural networks have been proposed and reported in this book that can be utilized to forecast mid-term daily peak and mid- term hourly electricity market clearing price. Two situations have been considered; market clearing price forecasting under real deregulated electric market and under deregulated electric market with perfect competition.
Markets, Pricing, and Deregulation of Utilities examines the effects of deregulation on the energy and telecommunications industries in an economic environment that has changed ...
As the industry environment transforms from a completely regulated setting to a broader, deregulated marketplace, new market participants must understand planning and operations of power systems to...
Electricity markets are being deregulated or face new regulatory frameworks. In such changing markets, new pricing strategies will need to consider such factors as cost, value of service and...
This book introduces a new breed of short-term electricity market-clearing problems which are subject to stochastic security criteria. The stochastic criteria are based on probabilistic measures of...
Electricity markets are structurally different to othercommodities, and the real-time dynamic balancing of the electricitynetwork involves many external factors. Because of this, it is nota simple...
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