An adaptive standardisation methodology for Day-Ahead electricity price forecasting

arXiv:2311.02610v2 Announce Type: replace-cross
Abstract: The study of Day-Ahead prices in the electricity market is one of the most popular problems in time series forecasting. Previous research has focused on employing increasingly complex learning algorithms to capture the sophisticated dynamics of the market. However, there is a threshold where increased complexity fails to yield substantial improvements. In this work, we propose an alternative approach by introducing an adaptive standardisation to mitigate the effects of dataset shifts that commonly occur in …

abstract algorithms arxiv complexity cs.lg dynamics electricity forecasting however market methodology popular price research series stat.ap stat.me study threshold time series time series forecasting type