Electricity price short-term forecasting using artificial neural networks

This paper presents the System Marginal Price (SMP) short-term forecasting implementation using the Artificial Neural Networks (ANN) computing techniq ue. The described approach uses the three-layered ANN paradigm with backpro pagation. The retrospective SMP real-world data, acquired from the deregula ted Victorian power system, was used for training and testing the ANN. The results presented in this paper confirm considerable value of the ANN based approach in forecasting the SMP.