Data-Driven Approach to Predict Spot Market Price in Indian Electricity

• Published in: 2023 International Conference on Electrical, Electronics, Communication and Computers (ELEXCOM) pp. 1 - 5
• Main Authors: M. P., Subeekrishna, R. R., Lekshmi
• Format: Conference Proceeding
• Language: English
• Published: IEEE 26.08.2023
• Subjects: Adaptation models; Backpropagation algorithm; Data models; deregulated power system; electricity market; electricity price forecasting; Electricity supply industry; Machine learning; Machine learning algorithms; market clearing price; neural network; Prediction algorithms; Predictive models

The restructuring of vertically integrated utilities has made the energy market more competitive. The power trading in a deregulated power system is reliant on an auction-based contract between market participants including generators, retailers, and wholesale traders. The electricity market is subj...