Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
977977 | Physica A: Statistical Mechanics and its Applications | 2008 | 8 Pages |
Abstract
The participants in the electricity market are concerned very much with the market price evolution. Various technologies have been developed for price forecasting. The SVM (Support Vector Machine) has shown its good performance in market price forecasting. Two approaches for forming the market bidding strategies based on SVM are proposed. One is based on the price forecasting accuracy, with which the rejection risk is defined. The other takes into account the impact of the producer's own bid. The risks associated with the bidding are controlled by the parameter settings. The proposed approaches have been tested on a numerical example.
Related Topics
Physical Sciences and Engineering
Mathematics
Mathematical Physics
Authors
Ciwei Gao, Ettore Bompard, Roberto Napoli, Qiulan Wan, Jian Zhou,