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A review of electricity price forecasting: The past, the present and the future

Rafał Weron

No HSC/14/02, HSC Research Reports from Hugo Steinhaus Center, Wroclaw University of Technology

Abstract: A variety of methods and ideas have been tried for electricity price forecasting (EPF), with varying degrees of success. This review article aims at explaining the complexity of available solutions, their strengths and weaknesses, and the opportunities and treats that the forecasting tools offer or that may be encountered.

Keywords: Electricity price forecasting; Day-ahead market; Seasonality; Autoregression; Neural network; Factor model; Forecasts combination (search for similar items in EconPapers)
JEL-codes: C22 C24 C38 C53 Q47 (search for similar items in EconPapers)
Pages: 92 pages
Date: 2014-03-10
New Economics Papers: this item is included in nep-cmp, nep-ene and nep-for
References: Add references at CitEc
Citations: View citations in EconPapers (25)

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http://www.im.pwr.wroc.pl/~hugo/RePEc/wuu/wpaper/HSC_14_02.pdf Working paper version; Final version published in International Journal of Forecasting 30(4) (2014) 1030-1081 (doi: 10.1016/j.ijforecast.2014.08.008) (application/pdf)
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