A Comparative Analysis of Automated Machine Learning Libraries for Electricity Price Forecasting

Abstract

Reliable and accurate electricity price forecasting algorithms can be used to inform efficient energy consumption schedules and maximise profits for electricity traders. Operating within Ireland’s Integrated Single Electricity Market (I-SEM), traders can buy and sell electricity at fluctuating hourly rates whose day-ahead prices are published at approximately 13:00 GMT day-1. Access to electricity price predictions earlier than this publication time allows stakeholders an expanded timeframe to facilitate energy cost-aware scheduling.

Keywords

• artificial intelligence
• deep learning
• forecasting
• machine learning