Improving electricity market price scenarios by means of forecasting factor models

Publication TypeProceedings Article
Year of Publication2009
AuthorsM.Pilar Muñoz; Cristina Corchero; F.-Javier Heredia
Conference Name57^th Session of the International Statistical Institute
Key Wordsresearch; DPI2008-02153; electricity markets; TSFA; spot price scenarios; paper
AbstractIn liberalized electricity markets, Generation Companies must build an hourly bid that is sent to the market operator. The price at which the energy will be paid is unknown during the bidding process and has to be forecast. In this work we apply forecasting factor models to this framework and study its suitability.
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