Electricity Price Forecasting Model based on Gated Recurrent Units. (arXiv:2207.14225v1 [cs.LG])

The participation of consumers and producers in demand response programs has
increased in smart grids, which reduces investment and operation costs of power
systems. Also, with the advent of renewable energy sources, the electricity
market is becoming more complex and unpredictable. To effectively implement
demand response programs, forecasting the future price of electricity is very
crucial for producers in the electricity market. Electricity prices are very
volatile and change under the influence of various factors such as temperature,
wind speed, …

arxiv forecasting lg price