NDLI: On the Influence of Renewable Energy Sources in Electricity Price Forecasting in the Iberian Market

Content Provider	Directory of Open Access Journals (DOAJ)
Author	Diego Aineto Javier Iranzo-Sánchez Lenin G. Lemus-Zúñiga Eva Onaindia Javier F. Urchueguía
Abstract	The mainstream of EU policies is heading towards the conversion of the nowadays electricity consumer into the future electricity prosumer (producer and consumer) in markets in which the production of electricity will be more local, renewable and economically efficient. One key component of a local short-term and medium-term planning tool to enable actors to efficiently interact in the electric pool markets is the ability to predict and decide on forecast prices. Given the progressively more important role of renewable production in local markets, we analyze the influence of renewable energy production on the electricity price in the Iberian market through historical records. The dependencies discovered in this analysis will serve to identify the forecasts to use as explanatory variables for an electricity price forecasting model based on recurrent neural networks. The results will show the wide impact of using forecasted renewable energy production in the price forecasting.
e-ISSN	19961073
DOI	10.3390/en12112082
Journal	Energies
Issue Number	11
Volume Number	12
Language	English
Publisher	MDPI AG
Publisher Date	2019-05-01
Publisher Place	Switzerland
Access Restriction	Open
Subject Keyword	Technology Day-ahead Market Recurrent Neural Networks Renewable Energies Electricity Market Electricity Price Forecasting
Content Type	Text
Resource Type	Article

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