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This paper presents a mid-term electricity market clearing price forecasting technique utilizing neural network approach. Forecasting of mid-term market clearing price is essential for decision making, scheduling and bidding strategy planning purposes. However, forecasting mid-term electricity market clearing price is a very complex non-linear problem. Neural network based approaches can be effective...
Short-term load forecasting is an essential instrument in power system planning, operation and control. Many operating decisions are based on load forecasts, such as dispatch scheduling of generating capacity, reliability analysis, and maintenance planning for the generators. Overestimation of electricity demand will cause a conservative operation, which leads to the start-up of too many units or...
This paper reviews main forecasting techniques used for power system applications. Available forecasting techniques have been discussed with focus on electricity load and price forecasting as well as wind power prediction. Forecasting problems have been classified based on time frame, application specific area and forecasting techniques. Appropriate examples based on data pertaining to the Victorian...
Electricity market players operating in a liberalized environment require adequate decision support tools, allowing them to consider all the business opportunities and take strategic decisions. Ancillary services represent a good negotiation opportunity that must be considered by market players. This paper deals with short-term predication of day-ahead spinning reserve (SR) requirement that helps...
Long-term load forecasting has a vital role in generation, transmission and distribution network planning. Traditional studies for long-term load forecasting were based on regression method, which could not provide a true representation of power system behavior in a volatile electricity market. The purpose of this paper is to introduce two approaches based regression method and artificial neural network...
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