Global Electricity Price Modelling and Forecasting Forum 2024 | Primo Eventi | 23 April 2024 | TBA, Berlin, Germany

Electricity price forecasting (EPF) is the process of using mathematical models to predict what electricity prices will be in the future. EPF is an extremely important factor in the utilities’ decision making process.

There is short-, medium- and long-term forecasting.
• Short-term forecasting, generally involves horizon from a few minutes up to a few days ahead and is of prime importance in day-to-day market operations.
• Medium-term forecasting, from a few days to a few months ahead, is generally preferred for balance sheet calculations, risk management and derivatives pricing.
• Long-term forecasting, with lead times measures in months, quarters or years, concentrates on investment profitability analysis and planning.

Short industry description and background to the topic . Electricity (energy commodity) is traded on the wholesale market. Suppliers (electricity generators) and demanders (retailers) are active on the wholesale electricity market. They meet on the power exchange. Electricity generators disclose the amount of power they are willing to sell for a given price and demanders disclose the amount of power they are prepared to buy for a given price. As electricity cannot be stored economically, the electricity market has a highly volatile character. That is why electricity price forecasting has to be based on reliable models that take into account all major factors affecting the price. Glossary Wholesale Market: Electricity (energy commodity) is traded on the wholesale market. Suppliers (electricity generators) and demanders (retailers) are active on the wholesale electricity market. Retail Market: Retailers purchase significant volumes of electricity in the wholesale market and sell packages of smaller volumes to its customers. A spot price is the current price in the marketplace at which a given asset such as a security, commodity or currency can be bought or sold for immediate delivery. A forward price is the predetermined delivery price for an asset decided upon by the long (the buyer) and the short (the seller) to be paid at predetermined date in the future.

2024 Sponsors

• Siemens Energy
• Vecom
• BECHT
• Brown & Mason
• Inline X
• Plant Stream
• Protecao & Securanca
• Gradyent
• Aucotec