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In a competitive framework, producers and consumers require short-term electricity prices prediction to derive their bidding strategies to the electricity market. Accurate forecasting tools are required for producers to maximize their profits and for consumers to maximize their utilities. In this paper, a wavelet-neuro-fuzzy approach is proposed for short-term electricity prices prediction. Results from a real-world case study based on the electricity market of mainland Spain are presented. Finally, conclusions are duly drawn.
Date of Conference: 7-10 Nov. 2010