On the Influence of Renewable Energy Sources in Electricity Price Forecasting in the Iberian Market
The mainstream of EU policies is heading towards the conversion of the nowadays electricity consumer into the future electricity prosumer (producer and consumer) in markets in which the production of electricity will be more local, renewable and economically efficient. One key component of a local s...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2019-05-01
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| Series: | Energies |
| Subjects: | |
| Online Access: | https://www.mdpi.com/1996-1073/12/11/2082 |
| _version_ | 1811184688813834240 |
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| author | Diego Aineto Javier Iranzo-Sánchez Lenin G. Lemus-Zúñiga Eva Onaindia Javier F. Urchueguía |
| author_facet | Diego Aineto Javier Iranzo-Sánchez Lenin G. Lemus-Zúñiga Eva Onaindia Javier F. Urchueguía |
| author_sort | Diego Aineto |
| collection | DOAJ |
| description | The mainstream of EU policies is heading towards the conversion of the nowadays electricity consumer into the future electricity prosumer (producer and consumer) in markets in which the production of electricity will be more local, renewable and economically efficient. One key component of a local short-term and medium-term planning tool to enable actors to efficiently interact in the electric pool markets is the ability to predict and decide on forecast prices. Given the progressively more important role of renewable production in local markets, we analyze the influence of renewable energy production on the electricity price in the Iberian market through historical records. The dependencies discovered in this analysis will serve to identify the forecasts to use as explanatory variables for an electricity price forecasting model based on recurrent neural networks. The results will show the wide impact of using forecasted renewable energy production in the price forecasting. |
| first_indexed | 2024-04-11T13:16:39Z |
| format | Article |
| id | doaj.art-0d625b45dfbd459abb62d85ea88cc90b |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-04-11T13:16:39Z |
| publishDate | 2019-05-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-0d625b45dfbd459abb62d85ea88cc90b2022-12-22T04:22:22ZengMDPI AGEnergies1996-10732019-05-011211208210.3390/en12112082en12112082On the Influence of Renewable Energy Sources in Electricity Price Forecasting in the Iberian MarketDiego Aineto0Javier Iranzo-Sánchez1Lenin G. Lemus-Zúñiga2Eva Onaindia3Javier F. Urchueguía4Departamento de Sistemas Informáticos y Computación, Universitat Politècnica de València, 46022 Valencia, SpainDepartamento de Sistemas Informáticos y Computación, Universitat Politècnica de València, 46022 Valencia, SpainITACA, Universitat Politècnica de València, 46022 Valencia, SpainDepartamento de Sistemas Informáticos y Computación, Universitat Politècnica de València, 46022 Valencia, SpainITACA, Universitat Politècnica de València, 46022 Valencia, SpainThe mainstream of EU policies is heading towards the conversion of the nowadays electricity consumer into the future electricity prosumer (producer and consumer) in markets in which the production of electricity will be more local, renewable and economically efficient. One key component of a local short-term and medium-term planning tool to enable actors to efficiently interact in the electric pool markets is the ability to predict and decide on forecast prices. Given the progressively more important role of renewable production in local markets, we analyze the influence of renewable energy production on the electricity price in the Iberian market through historical records. The dependencies discovered in this analysis will serve to identify the forecasts to use as explanatory variables for an electricity price forecasting model based on recurrent neural networks. The results will show the wide impact of using forecasted renewable energy production in the price forecasting.https://www.mdpi.com/1996-1073/12/11/2082electricity marketelectricity price forecastingday-ahead marketrecurrent neural networksrenewable energies |
| spellingShingle | Diego Aineto Javier Iranzo-Sánchez Lenin G. Lemus-Zúñiga Eva Onaindia Javier F. Urchueguía On the Influence of Renewable Energy Sources in Electricity Price Forecasting in the Iberian Market Energies electricity market electricity price forecasting day-ahead market recurrent neural networks renewable energies |
| title | On the Influence of Renewable Energy Sources in Electricity Price Forecasting in the Iberian Market |
| title_full | On the Influence of Renewable Energy Sources in Electricity Price Forecasting in the Iberian Market |
| title_fullStr | On the Influence of Renewable Energy Sources in Electricity Price Forecasting in the Iberian Market |
| title_full_unstemmed | On the Influence of Renewable Energy Sources in Electricity Price Forecasting in the Iberian Market |
| title_short | On the Influence of Renewable Energy Sources in Electricity Price Forecasting in the Iberian Market |
| title_sort | on the influence of renewable energy sources in electricity price forecasting in the iberian market |
| topic | electricity market electricity price forecasting day-ahead market recurrent neural networks renewable energies |
| url | https://www.mdpi.com/1996-1073/12/11/2082 |
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