MS, University of Cincinnati, 2021, Engineering and Applied Science: Computer Science
Electric power is one of the most important energy sources in the world. The stable supply of electric power plays an important role in production development, work, and life. People in all walks of life can do nothing without electricity. Therefore, if the power system is unstable, resulting in the occurrence of power failure, a certain area will be basically paralyzed, the communication will be blocked, the production will not be able to proceed, and the hospital will not be able to treat the patients, people's lives cannot be guaranteed. Therefore, it is very important to ensure the continuous, reliable and stable supply of electricity.
In recent years, with the continuous development of global electricity market reform, electricity has become a freely traded commodity, and its price changes in real-time. Therefore, electricity price has become the most concerned issue. Generally, load and power generation are affected by meteorological factors such as temperature, wind speed, and precipitation, as well as the intensity of business and daily activities, such as weekends, hour etc. Therefore, electricity prices show seasonal and highly complex volatility in different time scales (daily, weekly, and annual), and there are often sudden and short-term price spikes.
The fluctuation of electricity prices makes it more difficult to predict the behavior of participants in the power market and increases the risk of imbalance between supply and demand in the power market, which affects the stability of power grid operation. In the market-oriented environment of power trade, accurate price forecasting is of great significance to all stakeholders in the power market. As the buyer of the electricity trading market, it is more likely to obtain more profits in electricity trading by obtaining accurate price information in advance. From the perspective of power consumers, such as some factories with large power consumption, electricity price occupies a key part of their pr (open full item for complete abstract)
Committee: Yizong Cheng Ph.D. (Committee Chair); Ali Minai Ph.D. (Committee Member); Boyang Wang (Committee Member)
Subjects: Computer Science