publication . Article . 2017

Price Forecasting of Electricity Markets in the Presence of a High Penetration of Wind Power Generators

Saber Talari; Miadreza Shafie-khah; Gerardo Osório; Fei Wang; Alireza Heidari; João Catalão;
Open Access English
  • Published: 10 Nov 2017 Journal: Sustainability (issn: 2071-1050, Copyright policy)
  • Publisher: MDPI AG
Abstract
Price forecasting plays a vital role in the day-ahead markets. Once sellers and buyers access an accurate price forecasting, managing the economic risk can be conducted appropriately through offering or bidding suitable prices. In networks with high wind power penetration, the electricity price is influenced by wind energy; therefore, price forecasting can be more complicated. This paper proposes a novel hybrid approach for price forecasting of day-ahead markets, with high penetration of wind generators based on Wavelet transform, bivariate Auto-Regressive Integrated Moving Average (ARIMA) method and Radial Basis Function Neural Network (RBFN). To this end, a we...
Subjects
free text keywords: bivariate ARIMA, hybrid method, price forecasting, wind generator, wavelet transform, Environmental effects of industries and plants, TD194-195, Renewable energy sources, TJ807-830, Environmental sciences, GE1-350, Electricity market, Wind power, business.industry, business, Moving average, Electric power system, Economics, Autoregressive integrated moving average, Electricity, Bidding, Particle swarm optimization, Econometrics
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publication . Article . 2017

Price Forecasting of Electricity Markets in the Presence of a High Penetration of Wind Power Generators

Saber Talari; Miadreza Shafie-khah; Gerardo Osório; Fei Wang; Alireza Heidari; João Catalão;