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Predicting Power Deviation in the Turkish Power Market Based on Adaptive Factor Impacts

Conference paper
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Part of the IFIP Advances in Information and Communication Technology book series (IFIPAICT, volume 614)

Abstract

Energy market models are generally focused on energy balancing using the optimum energy mix. In countries where the energy markets are not fully liberalised, the State Regulators reflect any cost of being off-balance on the utility companies and this affects the consumers as well. The right short term prediction of the market trends is beneficial both to optimise the physical energy flow and commercial revenue balance for suppliers and utility companies. This study is aimed to predict the sign trends in the power market by selecting the influencing factors adaptive to the conditions of the day ahead, 10 h, 5 h, 2 h and 1 h before the electricity balance is active. There are numerous factors consisting of weather conditions, resource costs, operation costs, renewable energy conditions, regulations, etc. with a considerable impact on the predictions. The contribution of this paper is to choose the factors with the highest impacts using the Genetic Algorithm (GA) with Akaike Information Criteria (AIC), which are then used as input of a Recursive Neural Network (RNN) model for forecasting the deviation trends. The proposed hybrid method does not only reduce the prediction errors but also avoid dependency on expert knowledge. Hence this paper will allow both the market regulator and the suppliers to take precautions based on a confident prediction.

Keywords

Energy market balancing Auxiliary power market modeling Turkish power market Adaptive prediction Genetic algorithm and recursive neural networks 

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Copyright information

© IFIP International Federation for Information Processing 2021

Authors and Affiliations

  1. 1.Eurasia Institute of Earth SciencesIstanbul Technical UniversityIstanbulTurkey
  2. 2.Axpo TurkeyBesiktas, IstanbulTurkey
  3. 3.Energy InstituteIstanbul Technical UniversityIstanbulTurkey

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