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Time series methods for forecasting electricity market pricing

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2 Author(s)
Obradovic, Z. ; Sch. of Electr. Eng. & Comput. Sci., Washington State Univ., Pullman, WA, USA ; Tomsovic, K.

The objective of this work is to gain understanding of interactions between the predictability of electricity price under new market regulations and the engineering aspects of large scale electric power systems. There are numerous practical difficulties in allowing financial mechanisms to direct investments and operations for the generation and distribution of electricity. The electric commodity must be generated, distributed and consumed in real-time under strict physical laws and extremely high reliability requirements. This process is far more exacting and complex then the distribution of traditional commodities, such as oil or agricultural products. Clearly, assessing the effectiveness of deregulated markets is of extreme importance

Published in:

Power Engineering Society Summer Meeting, 1999. IEEE  (Volume:2 )

Date of Conference:

1999

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