Paper

Day-ahead Electricity Price Forecasting Using PSO -Based LLWNN Model


Authors:
Prasanta kumar Pany; Sakti Prasad Ghoshal
Abstract
Price forecasting has become an important activity for market participants in electric power industry for developing their bidding strategies. The work presented in this paper makes use of particle swarm optimization based local linear wavelet neural networks (LLWNN) to find the Market Clearing Price (MCP) for a given period, with a certain confidence level. The results of the new method show significant improvement in the price forecasting process.
Keywords
Electricity Price, Forecasting, Wavelet Neural Network (WNN), Local Linear Wavelet Neural Network (LLWNN), Particle Swarm Optimization (PSO), Market Clearing Price (MCP), Weekly Mean Absolute Percentage Error (WMAPE)
StartPage
99
EndPage
106
Doi
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