Electricity spot price forecasting as a part of energy management in de-regulated power market

Göran Koreneff, Anssi Seppälä, Matti Lentonen, Veikko Kekkonen, Erkki Laitinen, Jukka Hakli, Erkki Antila

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientific

19 Citations (Scopus)

Abstract

A method for spot price forecasting in electricity exchange is presented. In the beginning of the paper, the practices of the electricity exchange of Finland are described, and a brief presentation is given on the different contracts, or electricity products, available in the spot market. For comparison, the Nordic electricity exchange is also discussed. The structure of the forecasting model, based on time series analysis, is presented, and its validity is tested using real case data obtained from the Finnish power market. The spot price forecasting model is a part of a larger computer system for distribution energy management (DEM) in a de-regulated power market.
Original languageEnglish
Title of host publicationProceedings of EMPD '98. 1998 International Conference on Energy Management and Power Delivery
PublisherInstitute of Electrical and Electronic Engineers IEEE
Pages223-228
ISBN (Print)0-7803-4495-2
DOIs
Publication statusPublished - 1998
MoE publication typeNot Eligible

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Energy management
Electricity
Time series analysis
Computer systems
Power markets

Cite this

Koreneff, G., Seppälä, A., Lentonen, M., Kekkonen, V., Laitinen, E., Hakli, J., & Antila, E. (1998). Electricity spot price forecasting as a part of energy management in de-regulated power market. In Proceedings of EMPD '98. 1998 International Conference on Energy Management and Power Delivery (pp. 223-228). Institute of Electrical and Electronic Engineers IEEE. https://doi.org/10.1109/EMPD.1998.705516
Koreneff, Göran ; Seppälä, Anssi ; Lentonen, Matti ; Kekkonen, Veikko ; Laitinen, Erkki ; Hakli, Jukka ; Antila, Erkki. / Electricity spot price forecasting as a part of energy management in de-regulated power market. Proceedings of EMPD '98. 1998 International Conference on Energy Management and Power Delivery. Institute of Electrical and Electronic Engineers IEEE, 1998. pp. 223-228
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author = "G{\"o}ran Koreneff and Anssi Sepp{\"a}l{\"a} and Matti Lentonen and Veikko Kekkonen and Erkki Laitinen and Jukka Hakli and Erkki Antila",
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Koreneff, G, Seppälä, A, Lentonen, M, Kekkonen, V, Laitinen, E, Hakli, J & Antila, E 1998, Electricity spot price forecasting as a part of energy management in de-regulated power market. in Proceedings of EMPD '98. 1998 International Conference on Energy Management and Power Delivery. Institute of Electrical and Electronic Engineers IEEE, pp. 223-228. https://doi.org/10.1109/EMPD.1998.705516

Electricity spot price forecasting as a part of energy management in de-regulated power market. / Koreneff, Göran; Seppälä, Anssi; Lentonen, Matti; Kekkonen, Veikko; Laitinen, Erkki; Hakli, Jukka; Antila, Erkki.

Proceedings of EMPD '98. 1998 International Conference on Energy Management and Power Delivery. Institute of Electrical and Electronic Engineers IEEE, 1998. p. 223-228.

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientific

TY - GEN

T1 - Electricity spot price forecasting as a part of energy management in de-regulated power market

AU - Koreneff, Göran

AU - Seppälä, Anssi

AU - Lentonen, Matti

AU - Kekkonen, Veikko

AU - Laitinen, Erkki

AU - Hakli, Jukka

AU - Antila, Erkki

PY - 1998

Y1 - 1998

N2 - A method for spot price forecasting in electricity exchange is presented. In the beginning of the paper, the practices of the electricity exchange of Finland are described, and a brief presentation is given on the different contracts, or electricity products, available in the spot market. For comparison, the Nordic electricity exchange is also discussed. The structure of the forecasting model, based on time series analysis, is presented, and its validity is tested using real case data obtained from the Finnish power market. The spot price forecasting model is a part of a larger computer system for distribution energy management (DEM) in a de-regulated power market.

AB - A method for spot price forecasting in electricity exchange is presented. In the beginning of the paper, the practices of the electricity exchange of Finland are described, and a brief presentation is given on the different contracts, or electricity products, available in the spot market. For comparison, the Nordic electricity exchange is also discussed. The structure of the forecasting model, based on time series analysis, is presented, and its validity is tested using real case data obtained from the Finnish power market. The spot price forecasting model is a part of a larger computer system for distribution energy management (DEM) in a de-regulated power market.

U2 - 10.1109/EMPD.1998.705516

DO - 10.1109/EMPD.1998.705516

M3 - Conference article in proceedings

SN - 0-7803-4495-2

SP - 223

EP - 228

BT - Proceedings of EMPD '98. 1998 International Conference on Energy Management and Power Delivery

PB - Institute of Electrical and Electronic Engineers IEEE

ER -

Koreneff G, Seppälä A, Lentonen M, Kekkonen V, Laitinen E, Hakli J et al. Electricity spot price forecasting as a part of energy management in de-regulated power market. In Proceedings of EMPD '98. 1998 International Conference on Energy Management and Power Delivery. Institute of Electrical and Electronic Engineers IEEE. 1998. p. 223-228 https://doi.org/10.1109/EMPD.1998.705516