Methodology for Electricity Price Forecasting in the Long Run

A majority of the studies dealing with electricity price forecast electricity prices in the short run. Whereas, the aim of this study is to present a long-term perspective by introducing a methodology framework that consists of various parameters associated with the forecasting of electricity price in the long run. To the best of our understanding, this framework has not been proposed in existing energy literature, and therefore, under an assumption that future electricity market will be dominated by clean energy generation, this study brings novelty to the literature.