International Journal of Industrial Electronics and Electrical Engineering(IJIEEE).
Paper Title - Price Forecasting For Day – Ahead Electricity Market Using Recursive Neural Network
Price forecasting has becomes a very valuable tool in the current upheaval of electricity market deregulation. It
plays an important role in power system planning and operation, risk assessment and other decision making. This paper
provides a method for predicting hourly prices in the day-ahead electricity marketusing Recursive Neural Network (RNN)
technique, which is based on one output node, which uses the previous prediction as input for the subsequent forecasts. In
this way, it is carried out recursively for twenty four steps to preict next 24 hour prices. Comparison of forecasting
performance of the proposed RNN model with similar days along with other literature is presented. The proposed method is
examined on the PJM electricity market. The result obtained through the simulation show that the proposed RNN model can
provide efficient, accurate and better results.
Index Terms- Electricity market, price forecasting, recursive neural networks, similar days.
Author - N. Sai Pavn Kumar, B. Siva Nagaraju
Citation - N. Sai Pavn Kumar ,
B. Siva Nagaraju ,
N. Sai Pavn Kumar, B. Siva Nagaraju " Price Forecasting For Day – Ahead Electricity Market Using Recursive Neural Network " ,
International Journal of Industrial Electronics and Electrical Engineering (IJIEEE) , Volume-5,Issue-4 ( Apr, 2017 )