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Modeling and Forecasting Electricity Loads and Prices: A Statistical Approach

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Author Info

  • Rafal Weron

Abstract

The book is divided into four chapters. The first one introduces the structure of deregulated, competitive electricity markets with the power pools and power exchanges as the basic marketplaces for price discovery. Chapter 2 reviews the so-called stylized facts of selected power markets. In particular, the spiky nature of electricity prices, the different levels of seasonality inherent in load and price time series, the anti-persistent behavior of prices and the heavy-tailed distributions of returns. Chapter 3 reviews load forecasting techniques, with particular emphasis on statistical methods. Various models with and without exogenous variables are illustrated and compared in two comprehensive case studies. Finally, Chapter 4 discusses price modeling and forecasting. Six different approaches are surveyed and two – statistical and quantitative – are further studied. As in the previous chapter, the theoretical considerations and techniques are illustrated and evaluated using real-world data.

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File URL: http://www.im.pwr.wroc.pl/~hugo/RePEc/wuu/hsbook/HSBook0601.pdf
File Function: TOC, Preface and sample chapter
Download Restriction: no

File URL: http://www.im.pwr.wroc.pl/~hugo/RePEc/wuu/hsbook/HSBook0601_Errata.pdf
File Function: Book errata, version 2008-12-01
Download Restriction: no

File URL: http://eu.wiley.com/WileyCDA/WileyTitle/productCd-047005753X.html
File Function: Original published version (Wiley)
Download Restriction: Yes

Bibliographic Info

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This book is provided by Hugo Steinhaus Center, Wroclaw University of Technology in its series HSC Books with number hsbook0601 and published in 2006.

Handle: RePEc:wuu:hsbook:hsbook0601

Note: Published by Wiley, Chichester
Contact details of provider:
Postal: Wybrzeze Wyspianskiego 27, 50-370 Wroclaw
Phone: +48-71-3203530
Fax: +48-71-3202654
Email:
Web page: http://prac.im.pwr.wroc.pl/~hugo
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