Data-Driven Modeling for Long-Term Electricity Price Forecasting

Storage power purchase agreements to enable the deployment of energy storage in Europe

“…energy-related quantities that influence the electricity price) as projected by the EU Reference Scenario are used (European Commission et al, 2021). We characterize the uncertainty associated with future electricity prices based on that of the price drivers (Gabrielli et al, 2022b), and we create low, average and high price scenarios based on the 25th, 50th and 75th percentiles of the resulting price distributions.…”

Hourly electricity price forecast for short-and long-term, using deep neural networks

“…Because of the high volatility of electricity prices, and the fact that information from price drivers are usually annual estimates, hourly predictions are available mostly only for short-term. However, in a recent publication of Gabrielli et al [3], an attempt was performed for producing finely resolved long-term electricity price forecast with a remarkable result (7.6%-19.3% Mean Absolute Percentage Error for a single country, hourly price prediction). Their work applied Fourier analysis, and a regression model on the main frequencies of the Fourier series, that was based on the captured data both of the electricity market and price driver data.…”