WIND POWER FORECASTING
Wind power and electricity prices short-term forecasting for the Spanish system
ACRONYM: WIND POWER FORECASTING
SUMMARY
It is well know the influence of wind power in the spot prices of electricity in those systems with a high penetration of wind energy. In this project, a model based on the use of artificial neural networks has been developed in order to forecast the electricity prices of the Spanish electricity market for a period of 1 to 10 days. The model includes the prediction of the wind power and the whole power demand for the global system for the same period.
Wind power prediction is based on the forecasting of wind speed for the locations of all the wind farms in the system while power demand prediction is carried out using demand historical data and the prediction of temperature.
Specific objectives
- Predict the wind power of the Spanish electric system for a time period of 10 days on an hour-by-hour basis.
- Predict the power demand of the Spanish electric system.
- Forecast electricity prices with an hourly resolution for bidding optimization.
