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Nhung Nguyen Hong and Huy Nguyen Duc
In recent years, with the rapid increase in renewable energy sources (RESs), a Virtual Power Plant (VPP) concept has been developed to integrate many small-scale RESs, energy storage systems (ESSs), and customers into a unified agent in the electricity m...
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Yun-Sheng Tsai, Chi-Wen Chen, Cheng-Chien Kuo and Hung-Cheng Chen
In recent years, the escalating electricity demand in Taiwan has heightened the prominence and discourse surrounding the issue of power supply. With the enactment of the European climate law, global commitment to achieving net-zero emissions has gained m...
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Nika Nizharadze, Arash Farokhi Soofi and Saeed Manshadi
Predicting the price gap between the day-ahead Market (DAM) and the real-time Market (RTM) plays a vital role in the convergence bidding mechanism of Independent System Operators (ISOs) in wholesale electricity markets. This paper presents a model to pre...
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Denis E. Baskan, Daniel Meyer, Sebastian Mieck, Leonhard Faubel, Benjamin Klöpper, Nika Strem, Johannes A. Wagner and Jan J. Koltermann
In recent years, energy prices have become increasingly volatile, making it more challenging to predict them accurately. This uncertain market trend behavior makes it harder for market participants, e.g., power plant dispatchers, to make reliable decisio...
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Daniel Manfre Jaimes, Manuel Zamudio López, Hamidreza Zareipour and Mike Quashie
This paper proposes a new hybrid model to forecast electricity market prices up to four days ahead. The components of the proposed model are combined in two dimensions. First, on the ?vertical? dimension, long short-term memory (LSTM) neural networks and...
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Silvia Golia, Luigi Grossi and Matteo Pelagatti
In this paper we assess how intra-day electricity prices can improve the prediction of zonal day-ahead wholesale electricity prices in Italy. We consider linear autoregressive models with exogenous variables (ARX) with and without interactions among pred...
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Venkataramana Veeramsetty, Modem Sai Pavan Kumar and Surender Reddy Salkuti
Short-term electric power load forecasting is a critical and essential task for utilities in the electric power industry for proper energy trading, which enables the independent system operator to operate the network without any technical and economical ...
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Stephen Haben, Julien Caudron and Jake Verma
The energy sector is moving towards a low-carbon, decentralised, and smarter network. The increased uptake of distributed renewable energy and cheaper storage devices provide opportunities for new local energy markets. These local energy markets will req...
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Belén Vega-Márquez, Cristina Rubio-Escudero, Isabel A. Nepomuceno-Chamorro and Ángel Arcos-Vargas
The importance of electricity in people?s daily lives has made it an indispensable commodity in society. In electricity market, the price of electricity is the most important factor for each of those involved in it, therefore, the prediction of the elect...
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Sajjad Khan, Shahzad Aslam, Iqra Mustafa and Sheraz Aslam
Day-ahead electricity price forecasting plays a critical role in balancing energy consumption and generation, optimizing the decisions of electricity market participants, formulating energy trading strategies, and dispatching independent system operators...
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