Using neural networks and extreme value distributions to model electricity pool prices: Evidence from the Australian National Electricity Market 1998-2013
Competitors in the electricity supply industry desire accurate predictions of electricity spot prices to hedge against financial risks. Neural networks are commonly used for forecasting such prices, but certain features of spot price series, such as extreme price spikes, present critical challenges for such modeling. We investigate the predictive capacity of neural networks for electricity spot prices using Australian National Electricity Market data. Following neural net modeling of the data,...[Show more]
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|Source:||Energy Conversion and Management|
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|02_Dev_Using_neural_networks_and_2014.pdf||2.68 MB||Adobe PDF||Request a copy|
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