Price Forecasting Using Neural Networks

Hello All,

I am working on a project for Electricity Price Forecasting of some regions in INDIA. Has anyone earlier worked in it before? Can anybody provide some assistance. What I have done till now is; I have collected last one year price data of West(India) Region and the factors that affect the price. Kindly let me know how to proceed further.

Regards, Rohan

Answer 1

[Greg Heath]

 For N examples of the I factors and corresponding prices

 [I N ] = size(input)

 [1 N ] = size(target)

 help fitnet
 doc fitnet

**********************CORRECTION:*

This is a time-series problem which should be apprroached via

 timedelaynet (delayed input, no output feedback)

 or

 narxnet (delayed input and delayed output feedback)

To help determine which approach to use, calculate

 a. the significant input delays from the cross-correlation function of inputs and output
 b. the significant output delays from the output autocorrelation function.

I have posted many examples. Search

 greg timedelaynet nncorr

and

 greg narxnet nncorr

Hope this helps.

Thank you for formally accepting my answer.

Greg

[Rohan]

Thank You Greg for the reply.

I have 8760 input entries (365days x 24hrs) of one year; from which I need to predict prices for next upcoming one month.(30days x 24hrs). Total no. of factors taken are 5. Kindly provide some assistance.

Regards, Rohan

[NN]

i am working on microgrid optimisation with solar and energy storage.I am also checking the matlab example file as reference.

https://www.mathworks.com/matlabcentral/fileexchange/73139-microgrid-energy-management-system-ems-using-optimization?s_tid=srchtitle

there are many things which i dont understand.I request you all to help me to understand the code and then only i will be able to do my model.These are few queries which i liek to ask.

In matlab example, they load a file PvLoadPrice.I understand the load detals are for variable laod given in the system.PV has clear and cloudy data.Can i know how do we use such a data?in which format ?From which website for research purpose?Also how do we seperate such a data against each parameter?How do i forecast those data , say for price how do i compare price details before and after a load variation ?should i do forecasting of price?i want to minimise the price of grid net exchange.plz advice.Can i have any resource to understand the code written in this example file?

The energy storage charges and discharges as per the power availabilty in grid.So how can i model the optmisation problem?and what should be the constraints ?I have already modelled a microgrid with charging and discharging energy storage mechanism as per the load availability.So how can i link the model with the optimisation code.

Answer 2

[Herbert Wanga]

Check here http://www.mathworks.com/videos/electricity-load-and-price-forecasting-with-matlab-81765.html?form_seq=conf1134&elqsid=1437831466623&potential_use=Education&country_code=TZ

[NN]

i am working on microgrid optimisation with solar and energy storage.I am also checking the matlab example file as reference.

https://www.mathworks.com/matlabcentral/fileexchange/73139-microgrid-energy-management-system-ems-using-optimization?s_tid=srchtitle

there are many things which i dont understand.I request you all to help me to understand the code and then only i will be able to do my model.These are few queries which i liek to ask.

In matlab example, they load a file PvLoadPrice.I understand the load detals are for variable laod given in the system.PV has clear and cloudy data.Can i know how do we use such a data?in which format ?From which website for research purpose?Also how do we seperate such a data against each parameter?How do i forecast those data , say for price how do i compare price details before and after a load variation ?should i do forecasting of price?i want to minimise the price of grid net exchange.plz advice.Can i have any resource to understand the code written in this example file?

The energy storage charges and discharges as per the power availabilty in grid.So how can i model the optmisation problem?and what should be the constraints ?I have already modelled a microgrid with charging and discharging energy storage mechanism as per the load availability.So how can i link the model with the optimisation code.