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Short-term forecasting of day-ahead electricity market price

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4 Author(s)
Daniele Menniti ; University of Calabria, Dep. of Electronic, Computer and System Science, Via Pietro Bucci, 87036 Arcavacata of Rende (CS) - Italy ; Nadia Scordino ; Nicola Sorrentino ; Antonio Violi

A very important task in electricity market operation is to forecast day ahead market price in order to implement adequate bidding strategies. In this direction, this paper proposes a technique to forecast day-ahead electricity prices based on the mean reverting process, using a properly fitted model. Results from the electricity market of Italy during year 2009 are finally reported.

Published in:

2010 7th International Conference on the European Energy Market

Date of Conference:

23-25 June 2010