JEPX spot prices forecasting system using GIS
Japan Electric Power Exchange (JEPX) is the only electricity market in Japan that allows transactions for electric power established in 2005. Several commodities are traded there, such as the spot market and the forward market. In particular, the spot market is a major trading market. The price of t...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2023-03-01
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| Series: | Energy Reports |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S235248472202354X |
| _version_ | 1797843858374000640 |
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| author | Shuntaro Nakayama Atsushi Shiota Yasunori Mitani Masayuki Watanabe |
| author_facet | Shuntaro Nakayama Atsushi Shiota Yasunori Mitani Masayuki Watanabe |
| author_sort | Shuntaro Nakayama |
| collection | DOAJ |
| description | Japan Electric Power Exchange (JEPX) is the only electricity market in Japan that allows transactions for electric power established in 2005. Several commodities are traded there, such as the spot market and the forward market. In particular, the spot market is a major trading market. The price of the spot market changes depending on the relationship between supply and demand. Therefore, it is important to forecast spot market prices to make a supply and demand plan for the next day. This research focused on the factors that determine supply and demand are related to geospatial information—first, deriving the explanatory variables for JEPX spot prices using Geographic Information System (GIS). Then, constructing the spot price forecasting system by machine learning using the derived explanatory variables. By using this system, it is possible to forecast electricity prices with higher accuracy than existing methods. |
| first_indexed | 2024-04-09T17:12:49Z |
| format | Article |
| id | doaj.art-8f960861836340369952599d7ecbdaeb |
| institution | Directory Open Access Journal |
| issn | 2352-4847 |
| language | English |
| last_indexed | 2024-04-09T17:12:49Z |
| publishDate | 2023-03-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Energy Reports |
| spelling | doaj.art-8f960861836340369952599d7ecbdaeb2023-04-20T04:36:53ZengElsevierEnergy Reports2352-48472023-03-019329336JEPX spot prices forecasting system using GISShuntaro Nakayama0Atsushi Shiota1Yasunori Mitani2Masayuki Watanabe3Kyushu institute of technology, 1-1 Sensui-cho, Tobata-ku, Kitakyushu, Fukuoka, 804-8550, Japan; Corresponding author.Kitakyushu city office, 1-1 Jonai, Kokurakita-ku, Kitakyushu, 803-0813, JapanKyushu institute of technology, 1-1 Sensui-cho, Tobata-ku, Kitakyushu, Fukuoka, 804-8550, JapanKyushu institute of technology, 1-1 Sensui-cho, Tobata-ku, Kitakyushu, Fukuoka, 804-8550, JapanJapan Electric Power Exchange (JEPX) is the only electricity market in Japan that allows transactions for electric power established in 2005. Several commodities are traded there, such as the spot market and the forward market. In particular, the spot market is a major trading market. The price of the spot market changes depending on the relationship between supply and demand. Therefore, it is important to forecast spot market prices to make a supply and demand plan for the next day. This research focused on the factors that determine supply and demand are related to geospatial information—first, deriving the explanatory variables for JEPX spot prices using Geographic Information System (GIS). Then, constructing the spot price forecasting system by machine learning using the derived explanatory variables. By using this system, it is possible to forecast electricity prices with higher accuracy than existing methods.http://www.sciencedirect.com/science/article/pii/S235248472202354XJapan electric power exchangeGeographic information systemSpot priceMeteorological data |
| spellingShingle | Shuntaro Nakayama Atsushi Shiota Yasunori Mitani Masayuki Watanabe JEPX spot prices forecasting system using GIS Energy Reports Japan electric power exchange Geographic information system Spot price Meteorological data |
| title | JEPX spot prices forecasting system using GIS |
| title_full | JEPX spot prices forecasting system using GIS |
| title_fullStr | JEPX spot prices forecasting system using GIS |
| title_full_unstemmed | JEPX spot prices forecasting system using GIS |
| title_short | JEPX spot prices forecasting system using GIS |
| title_sort | jepx spot prices forecasting system using gis |
| topic | Japan electric power exchange Geographic information system Spot price Meteorological data |
| url | http://www.sciencedirect.com/science/article/pii/S235248472202354X |
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