Forecasting techniques for deregulated electricity market prices

This paper reports preliminary results of an ongoing survey of electricity price forecasting techniques developed over the last fifteen years or so. The main focus of this survey is the method of forecasting electrical energy prices on a pool-style energy forward market (typically, one-day ahead). Because the British market began operating its initial pool and real data became available in 1990, this survey reviewed publications that appeared in 1990 and after. The paper source of this preliminary survey is exclusively limited to INSPEC/IEEE-Xplore. A limited list of printed books for general background information is also included. From the review of the papers, a summary of general procedure of price forecasting and of factors to be considered is discussed.