<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>Despite the practical importance of accurate long-term electricity price forecast with high resolution - and the significant need for that - only small percentage of the tremendous papers on energy price forecast attempted to target this topic. Its reason can be the high volatility of electricity prices and the hidden – and often unpredictable – relations with its influencing factors.</p>
<p>In our research, we performed different experiments to predicate hourly Hungarian electricity prices using deep neural networks, for short-term and long-term, too. During this work, investigations were made to compare the results of different network structures and to determine the effect of some environmental factors (meteorologic data and date/time - beside the historical electricity prices). Our results were promising, mostly for short-term forecasts - especially by using a deep neural network with one ConvLSTM encoder.</p>
</abstract>

Despite the practical importance of accurate long-term electricity price forecast with high resolution - and the significant need for that - only small percentage of the tremendous papers on energy price forecast attempted to target this topic. Its reason can be the high volatility of electricity prices and the hidden – and often unpredictable – relations with its influencing factors.
In our research, we performed different experiments to predicate hourly Hungarian electricity prices using deep neural networks, for short-term and long-term, too. During this work, investigations were made to compare the results of different network structures and to determine the effect of some environmental factors (meteorologic data and date/time - beside the historical electricity prices). Our results were promising, mostly for short-term forecasts - especially by using a deep neural network with one ConvLSTM encoder.

Hourly electricity price forecast for short-and long-term, using deep neural networks

Acta Universitatis Sapientiae, Informatica

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Despite the practical importance of accurate long-term electricity price forecast with high resolution - and the significant need for that - only small...

Hourly electricity price forecast for short-and long-term, using deep neural networks

Published Online: Feb 04, 2023

Page range: 208 - 222

Received: Nov 18, 2022

Accepted: Dec 08, 2022

DOI: https://doi.org/10.2478/ausi-2022-0013

Keywords
hourly electricity price forecast, artificial intelligence, deep neural networks

© 2022 Gergely Dombi et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Hourly electricity price forecast for short-and long-term, using deep neural networks

Published Online: Feb 04, 2023

Page range: 208 - 222

Received: Nov 18, 2022

Accepted: Dec 08, 2022

DOI: https://doi.org/10.2478/ausi-2022-0013

Keywordshourly electricity price forecast, artificial intelligence, deep neural networks

© 2022 Gergely Dombi et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Keywords
hourly electricity price forecast, artificial intelligence, deep neural networks