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

doi:10.1109/EMPD.1998.705516

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 proceeding › Conference article in proceedings › Scientific › peer-review

20 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 language	English
Title of host publication	Proceedings of EMPD '98
Subtitle of host publication	1998 International Conference on Energy Management and Power Delivery
Publisher	IEEE Institute of Electrical and Electronic Engineers
Pages	223-228
ISBN (Print)	978-0-7803-4495-2
DOIs	https://doi.org/10.1109/EMPD.1998.705516
Publication status	Published - 1998
MoE publication type	A4 Article in a conference publication
Event	1998 International Conference on Energy Management and Power Delivery (EMPD '98) - Singapore, Singapore Duration: 3 Mar 1998 → 5 Mar 1998

Conference

Conference	1998 International Conference on Energy Management and Power Delivery (EMPD '98)
Country/Territory	Singapore
City	Singapore
Period	3/03/98 → 5/03/98

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10.1109/EMPD.1998.705516

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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 (pp. 223-228). IEEE Institute of Electrical and Electronic Engineers. https://doi.org/10.1109/EMPD.1998.705516

@inproceedings{98cadd3bdedf4b9c8ea560250783e0e4,

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

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.",

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",

year = "1998",

doi = "10.1109/EMPD.1998.705516",

language = "English",

isbn = "978-0-7803-4495-2",

pages = "223--228",

booktitle = "Proceedings of EMPD '98",

publisher = "IEEE Institute of Electrical and Electronic Engineers",

address = "United States",

note = "1998 International Conference on Energy Management and Power Delivery (EMPD '98) ; Conference date: 03-03-1998 Through 05-03-1998",

}

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. IEEE Institute of Electrical and Electronic Engineers, pp. 223-228, 1998 International Conference on Energy Management and Power Delivery (EMPD '98), Singapore, Singapore, 3/03/98. 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 et al.
Proceedings of EMPD '98: 1998 International Conference on Energy Management and Power Delivery. IEEE Institute of Electrical and Electronic Engineers, 1998. p. 223-228.

Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific › peer-review

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 - 978-0-7803-4495-2

SP - 223

EP - 228

BT - Proceedings of EMPD '98

PB - IEEE Institute of Electrical and Electronic Engineers

T2 - 1998 International Conference on Energy Management and Power Delivery (EMPD '98)

Y2 - 3 March 1998 through 5 March 1998

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. IEEE Institute of Electrical and Electronic Engineers. 1998. p. 223-228 doi: 10.1109/EMPD.1998.705516

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

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