DocumentCode
1718452
Title
Forecasting hourly electricity prices for bidding optimization
Author
Klaboe, Gro
Author_Institution
Dept. of Electr. Power Eng., NTNU, Trondheim, Norway
fYear
2015
Firstpage
1
Lastpage
5
Abstract
This paper presents a model for the prediction of hourly day-ahead prices in the Nordic electricity market. The aim is to make a model suited for scenario generation for stochastic optimization of bids for a hydro power producer. Hourly prices are estimated through panel data methodology, and the analysis shows that most external explanation factors should have hour-specific coefficients.
Keywords
hydroelectric power stations; optimisation; power markets; Nordic electricity market; bidding optimization; hourly day-ahead price prediction; hourly electricity price forecasting; hydro power producer; panel data methodology; stochastic optimization; Correlation; Production; Reservoirs; Stochastic processes; Temperature; Wind forecasting; Wind power generation;
fLanguage
English
Publisher
ieee
Conference_Titel
European Energy Market (EEM), 2015 12th International Conference on the
Conference_Location
Lisbon
Type
conf
DOI
10.1109/EEM.2015.7216636
Filename
7216636
Link To Document