Related papers: Probabilistic forecasting of power system imbalanc…
With increasing penetration of variable renewable energy sources (vRES) and a higher rate of electrification in the society, there will be future challenges in maintaining a continuous balance between electricity supply and demand. To…
The planning and operation of renewable energy, especially wind power, depend crucially on accurate, timely, and high-resolution weather information. Coarse-grid global numerical weather forecasts are typically downscaled to meet these…
Recent studies concerning the point electricity price forecasting have shown evidence that the hourly German Intraday Continuous Market is weak-form efficient. Therefore, we take a novel, advanced approach to the problem. A probabilistic…
Electricity networks are vulnerable to weather damage, with severe events often leading to faults and power outages. Timely forecasts of fault occurrences, ranging from nowcasts to several days ahead, can enhance preparedness, support…
Data imbalance is ubiquitous when applying machine learning to real-world problems, particularly regression problems. If training data are imbalanced, the learning is dominated by the densely covered regions of the target distribution and…
This paper combines a techno-economic energy system model with an econometric model to maximise electricity price forecasting accuracy. The proposed combination model is tested on the German day-ahead wholesale electricity market. Our paper…
In Europe, balance responsible parties can deliberately take out-of-balance positions to support transmission system operators (TSOs) in maintaining grid stability and earn profit, a practice called implicit balancing. Model predictive…
We present a novel approach to probabilistic electricity price forecasting which utilizes distributional neural networks. The model structure is based on a deep neural network that contains a so-called probability layer. The network's…
In the last decades wind power became the second largest energy source in the EU covering 16% of its electricity demand. However, due to its volatility, accurate short range wind power predictions are required for successful integration of…
Real-world datasets often exhibit imbalanced data distribution, where certain class levels are severely underrepresented. In such cases, traditional pattern classifiers have shown a bias towards the majority class, impeding accurate…
Recent statistical postprocessing methods for wind speed forecasts have incorporated linear models and neural networks to produce more skillful probabilistic forecasts in the low-to-medium wind speed range. At the same time, these methods…
The growing uncertainty from renewable power and electricity demand brings significant challenges to unit commitment (UC). While various advanced forecasting and optimization methods have been developed to predict better and address this…
The South Australia region of the Australian National Electricity Market (NEM) displays some of the highest levels of price volatility observed in modern electricity markets. This paper outlines an approach to probabilistic forecasting…
Power systems face increasing challenges in maintaining resource adequacy due to lower operating margins, rising renewable energy uncertainty, and demand variability. Forecasting the probability distribution of peak demand on shorter…
By the end of 2021, the renewable energy share of the global electricity capacity reached 38.3% and the new installations are dominated by wind and solar energy, showing global increases of 12.7% and 18.5%, respectively. However, both wind…
Electricity price forecasting has become a critical tool for decision-making in energy markets, particularly as the increasing penetration of renewable energy introduces greater volatility and uncertainty. Historically, research in this…
The Intergovernmental Panel on Climate Change proposes different mitigation strategies to achieve the net emissions reductions that would be required to follow a pathway that limits global warming to 1.5{\deg}C with no or limited overshoot.…
With the expansion of renewables in the electricity mix, power grid variability will increase, hence a need to robustify the system to guarantee its security. Therefore, Transport System Operators (TSOs) must conduct analyses to simulate…
The issue of the accuracy of wind speed/power forecasts is becoming more and more important as wind power production continues to increase year after year. Having accurate forecasts for the energy market clashes with intrinsic difficulties…
Accurate production forecasts are essential to continue facilitating the integration of renewable energy sources into the power grid. This paper illustrates how to obtain probabilistic day-ahead forecasts of wind power generation via…