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 proceedingsScientificpeer-review

    20 Citations (Scopus)


    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
    PublisherIEEE Institute of Electrical and Electronic Engineers
    ISBN (Print)0-7803-4495-2
    Publication statusPublished - 1998
    MoE publication typeA4 Article in a conference publication


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