A Hybrid Approach for Probabilistic Forecasting of Electricity Price

@article{Wang2014AHA,
  title={A Hybrid Approach for Probabilistic Forecasting of Electricity Price},
  author={Xiaohui Wang and Zhao Xu and Yelei Wang and Zhao Yang Dong and Kit Po Wong},
  journal={IEEE Transactions on Smart Grid},
  year={2014},
  volume={5},
  pages={463-470}
}
The electricity market plays a key role in realizing the economic prophecy of smart grids. Accurate and reliable electricity market price forecasting is essential to facilitate various decision making activities of market participants in the future smart grid environment. However, due to the nonstationarities involved in market clearing prices (MCPs), it is rather difficult to accurately predict MCPs in advance. The challenge is getting intensified as more and more renewable energy and other… CONTINUE READING

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