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• W1556819084 abstract "Abstract This tutorial paper provides a brief overview of forecasting techniques for hourly electricity price prediction in both the short and the long term, with an emphasis on analytical, nonheuristic procedures. Appropriate background material on time‐series analysis is reviewed first. Short‐term hourly price forecasting (from 12 to 168 hours in advance) is then addressed considering mostly time‐series tools. Illustrative examples based on both European and North American electricity markets are provided to clarify the functioning of the tools described. Unobserved component models are then introduced to address the long‐term forecasting (from 1 week to 1 year in advance) of hourly electricity prices. An illustrative example based on data from a North‐American electricity market is used to clarify the working of an unobserved component model. Appropriate conclusions are finally drawn." @default.
• W1556819084 created "2016-06-24" @default.
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• W1556819084 date "2013-01-18" @default.
• W1556819084 modified "2023-10-05" @default.
• W1556819084 title "Price Forecasting Techniques in Power Systems" @default.
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• W1556819084 doi "https://doi.org/10.1002/047134608x.w8188" @default.
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