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Artificial Intelligence in Electricity Market Operations and Management

Artificial Intelligence in Electricity Market Operations and Management

Zhao Yang Dong, Tapan Kumar Saha, Kit Po Wong
Copyright: © 2008 |Pages: 20
ISBN13: 9781599049410|ISBN10: 1599049414|EISBN13: 9781599049427
DOI: 10.4018/978-1-59904-941-0.ch105
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MLA

Dong, Zhao Yang, et al. "Artificial Intelligence in Electricity Market Operations and Management." Intelligent Information Technologies: Concepts, Methodologies, Tools, and Applications, edited by Vijayan Sugumaran, IGI Global, 2008, pp. 1821-1840. https://doi.org/10.4018/978-1-59904-941-0.ch105

APA

Dong, Z. Y., Saha, T. K., & Wong, K. P. (2008). Artificial Intelligence in Electricity Market Operations and Management. In V. Sugumaran (Ed.), Intelligent Information Technologies: Concepts, Methodologies, Tools, and Applications (pp. 1821-1840). IGI Global. https://doi.org/10.4018/978-1-59904-941-0.ch105

Chicago

Dong, Zhao Yang, Tapan Kumar Saha, and Kit Po Wong. "Artificial Intelligence in Electricity Market Operations and Management." In Intelligent Information Technologies: Concepts, Methodologies, Tools, and Applications, edited by Vijayan Sugumaran, 1821-1840. Hershey, PA: IGI Global, 2008. https://doi.org/10.4018/978-1-59904-941-0.ch105

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Abstract

This chapter introduces advanced techniques such as artificial neural networks, wavelet decomposition, support vector machines, and data-mining techniques in electricity market demand and price forecasts. It argues that various techniques can offer different advantages in providing satisfactory demand and price signal forecast results for a deregulated electricity market, depending on the specific needs in forecasting. Furthermore, the authors hope that an understanding of these techniques and their application will help the reader to form a comprehensive view of electricity market data analysis needs, not only for the traditional time-series based forecast, but also the new correlation-based, price spike analysis.

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