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2. Electricity Market Price Forecasting Based on Weighted Nearest Neighbors Techniques.

Author

Troncoso Lora, Alicia, Riquelme Santos, Jesús M., Gómez Expósito, Antonio, Martínez Ramos, José Luis, and Riqueline Santos, José C.

Subjects
*ELECTRIC industries, *ELECTRIC rates, *POWER resources, *ELECTRIFICATION, *ELECTRONIC industries, *PRICES
Abstract

This paper presents a simple technique to forecast next-day electricity market prices based on the weighted nearest neighbors methodology. First, it is explained how the relevant parameters defining the adopted model are obtained. Such parameters have to do with the window length of the time series and with the number of neighbors chosen for the prediction. Then, results corresponding to the Spanish electricity market during 2002 are presented and discussed. Finally, the performance of the proposed method is compared with that of recently published techniques. [ABSTRACT FROM AUTHOR]

Published
2007
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