Next-day electricity price forecasting on deregulated power market

This paper proposes the approach to reduce the prediction error at occurrence time of peak electricity price, and aims to enhance the accuracy of next day electricity price forecasting. In the proposed method, the weekly variation data is used for input factors of the NN at occurrence time of peak electricity price in order to catch the price variation. Moreover, learning data for the neural network (NN) is selected by rough sets theory at occurrence time of peak electricity price. This method is examined by using the data of PJM electricity market.