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Extreme Interval Electricity Price Forecasting of Wholesale Markets Integrating ELM and Fuzzy Inference

dc.creatorBhagat M., Alamaniotis M., Fevgas A.en
dc.date.accessioned2023-01-31T07:38:12Z
dc.date.available2023-01-31T07:38:12Z
dc.date.issued2019
dc.identifier10.1109/IISA.2019.8900703
dc.identifier.isbn9781728149592
dc.identifier.urihttp://hdl.handle.net/11615/71630
dc.description.abstractThe electricity wholesale market is inherently volatile in a deregulated market structure where market participants like power generators and retailors drive the price of electricity. Timely forecasting of the wholesale market prices by market participants has become of utmost importance in order to maximize on profits and minimize on risks. This report presents a hybrid method comprised of an extreme learning machine and a fuzzy inference engine to forecast price intervals using historical wholesale price extreme values (price maximum and minimum), historical load, generation and congestion hours, forecasted temperature and power outage data. This hybrid forecasting method has been tested on RTO Pennsylvania-New Jersey-Maryland (PJM) interconnection for the period July 1st, 2018 to February 8th, 2019, and is compared with individual extreme learning machine and the non-linear autoregressive neural network. © 2019 IEEE.en
dc.language.isoenen
dc.source10th International Conference on Information, Intelligence, Systems and Applications, IISA 2019en
dc.source.urihttps://www.scopus.com/inward/record.uri?eid=2-s2.0-85075867620&doi=10.1109%2fIISA.2019.8900703&partnerID=40&md5=20523ab4981a8f62a187a7b0a24c2e05
dc.subjectCommerceen
dc.subjectDeregulationen
dc.subjectDigital storageen
dc.subjectForecastingen
dc.subjectKnowledge acquisitionen
dc.subjectMachine learningen
dc.subjectOutagesen
dc.subjectPower marketsen
dc.subjectAutoregressive neural networksen
dc.subjectDeregulated marketsen
dc.subjectElectricity price forecastingen
dc.subjectExtreme learning machineen
dc.subjectHybrid forecastingen
dc.subjectMarket participantsen
dc.subjectPrice forecastingen
dc.subjectWholesale electricity marketsen
dc.subjectFuzzy inferenceen
dc.subjectInstitute of Electrical and Electronics Engineers Inc.en
dc.titleExtreme Interval Electricity Price Forecasting of Wholesale Markets Integrating ELM and Fuzzy Inferenceen
dc.typeconferenceItemen


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