A novel grey model to forecast short-term electricity price for Nordpool using particle swarm optimization and correlation hours method

Abstract

Short-term electricity price forecasting in competitive power markets is essential both for producers and consumers in planning their operations and maximizing their benefits. This paper proposed a new grey model, called PGM(1,2), based on Particle Swarm Optimization algorithm (PSO) and correlation hours method (CHM) in order to forecast short-term price in… (More)
DOI: 10.1109/ICNSC.2010.5461583

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