Browsing by Author "Ortiz, Maria"
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- Study of Factors Affecting the Long-term Spanish Electricity Price Formation and Corresponding Validation Using Long-term Forecast ModelsPublication . Ortiz, Maria; Ukar, Olatz; Azevedo, Filipe; Barrio, RubenThe deregulation of electricity markets has resulted on a competitive sector. The impossibility to store energy in large scale together with the constant balance between supply and demand is at the origin of high volatility of market clearing prices. The electricity market players use long-term contracts to practice the hedge against the price risk. The success of those contracts is directly related on the accuracy of long-term price forecast. This paper presents a study of the factors that affects long-term Spanish electricity price formation makes use of a neural network model applied to long-term forecast to validate that study. The use of correct input variables is essential for a forecast accurate. It is presented a case study with real data and the results are compared and discussed in detail.