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Regular version of the site

Book chapter

Short-term price forecasting in the Russian wholesale electricity market: neural network approach.

P. 18-19.

Using artificial neural network approach, the electricity price forecast model is created to predict the short-term dynamic of day-ahead electricity market (spot) prices in the European zone of Russian wholesale electricity market. Such model make a big contribution to reduce the uncertainty caused by recent liberalization of Russian power industry, which typically lead to high price volatility. The proposed forecasting models might be a useful tool for power producers, consumers and retailers for making their market strategy to maximize their benefits and avoid unexpected losses.