Data Mining for Electricity Price Classification and the Application to Demand-Side Management

作者：Huang Dongliang^*; Zareipour Hamidreza; Rosehart William D; Amjady Nima

来源：IEEE Transactions on Smart Grid, 2012, 3(2): 808-817.

DOI：10.1109/TSG.2011.2177870

• Classification
• demand response
• demand-side management
• price forecasting

Forecasting electricity prices plays a significant role in making optimal scheduling decisions in competitive electricity markets. Predominantly, price forecasting is performed from a %26quot;point forecasting%26quot; perspective, i.e., forecasting the exact values of future prices. However, in some applications, such as demand-side management, operation decisions are made based on certain price thresholds. It is, hence, desirable to obtain the %26quot;classes%26quot; of future prices, which can be cast as an electricity price classification problem. In this paper, we investigate the application and effectiveness of several data mining approaches for electricity market price classification. In addition, we propose a new data model for forming the initial data set for price classification. Simulation results for New York, Ontario, and Alberta electricity market prices are provided. Finally, the application of the generated numerical results to a demand-side management case study is demonstrated.

• 出版日期2012-6