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Mid- to long-term modeling of electricity market prices

Klein, Martin (2018) Mid- to long-term modeling of electricity market prices. 25. Workshop des Student Chapters, 04. Mai 2018, Köln.

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Abstract

Mid- to long-term forecasting of electricity market prices remains a challenging task. Fundamental models can readily account for the drivers of mean electricity price level movements, but often fail to capture essential short-term price curve characteristics like high volatility and negative prices. We here report a hybrid fundamental-econometric model capable of reproducing both the short-term stylized facts and the long-term overall levels of spot market prices obtained at the EEX with a high degree of accuracy, including low mean average error and reproduction of negative prices.

Item URL in elib:https://elib.dlr.de/121291/
Document Type:Conference or Workshop Item (Speech)
Title:Mid- to long-term modeling of electricity market prices
Authors:
AuthorsInstitution or Email of AuthorsAuthors ORCID iD
Klein, MartinM.Klein (at) dlr.dehttps://orcid.org/0000-0001-7283-4707
Date:4 May 2018
Refereed publication:No
Open Access:Yes
Gold Open Access:No
In SCOPUS:No
In ISI Web of Science:No
Status:Published
Keywords:Genetic Algorithm, Electricity Price Modeling, Market Modeling
Event Title:25. Workshop des Student Chapters
Event Location:Köln
Event Type:Workshop
Event Dates:04. Mai 2018
Organizer:Gesellschaft für Energiewissenschaft und Energiepolitik e.V.
HGF - Research field:Energy
HGF - Program:Technology, Innovation and Society
HGF - Program Themes:Renewable Energy and Material Resources for Sustainable Futures - Integrating at Different Scales
DLR - Research area:Energy
DLR - Program:E SY - Energy Systems Analysis
DLR - Research theme (Project):E - Systems Analysis and Technology Assessment
Location: Stuttgart
Institutes and Institutions:Institute of Engineering Thermodynamics > Systems Analysis and Technology Assessment
Deposited By: Klein, Martin
Deposited On:07 Sep 2018 13:58
Last Modified:31 Jul 2019 20:19

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