论文信息 - Day ahead hourly load and price forecast in ISO New England market using ANN

Day ahead hourly load and price forecast in ISO New England market using ANN

In restructured daily power markets, forecasting electricity price and load are most essential tasks and basis for any decision making. Short-term load forecasting is an essential instrument in power system planning, operation, and control. Also, the accurate day ahead electricity price forecasting provides crucial information for power producers and consumers to develop accurate bidding strategies in order to maximize their profit. In this paper artificial intelligence (AI) has been applied in short-term load and price forecasting that is, the day-ahead hourly forecast of the electricity market parameters (load and price) over a week. Neural network fitting tool of MATLAB Software has been used to compute the forecasted load and price in ISO New England market. The data used in the forecasting are hourly historical data of the temperature, electricity load and natural gas price of ISO New England market. The ANN was trained on hourly data from the 2007 to 2011 and tested on out-of-sample data from 2012. The simulation results have shown highly accurate day-ahead forecasts with very small error in load and price forecasting.

Kishan Bhushan Sahay | M. M. Tripathi

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