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Socio-Economic Aspects of Free Public Transport Read chapter Read first chapter

2019 | OriginalPaper | Chapter

Required Depth of Electricity Price Forecasting in the Problem of Optimum Planning of Manufacturing Process Based on Energy Storage System (ESS)

Authors : Aleksandr Krivchenkov, Alexander Grakovski, Ilya Balmages

Published in: Reliability and Statistics in Transportation and Communication

Publisher: Springer International Publishing

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Abstract

The issue of appropriated range of electricity market price forecasting in the problem of enterprise’s electricity consumption expenses optimisation is considered. Various kinds of battery energy storage systems (BESS) for small enterprises, as well as control algorithms for energy consumption expenditures, cost reduction, are considered. The estimation of accuracy of hourly electricity price time series forecasting with the artificial neural networks (ANN) algorithm is made with step-by-step increasing depth of the forecast. It is shown that for the optimal control of electricity consumption forecast makes sense no more than for about of few hours (or tens hours) ahead only depending on the forecast errors.

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Metadata
Title
Required Depth of Electricity Price Forecasting in the Problem of Optimum Planning of Manufacturing Process Based on Energy Storage System (ESS)
Authors
Aleksandr Krivchenkov
Alexander Grakovski
Ilya Balmages
Copyright Year
2019
Book
Reliability and Statistics in Transportation and Communication

Print ISBN: 978-3-030-12449-6

Electronic ISBN: 978-3-030-12450-2

Copyright Year: 2019

DOI
https://doi.org/10.1007/978-3-030-12450-2_32

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