Turkiye Gun Oncesi Elektrik Piyasasinda Kodlayici Kod Cozucu Temelli Yinelemeli Sinir Aglariyla Fiyat Tahmini

Translated title of the contribution: Electricity Price Prediction Using Encoder-Decoder Recurrent Neural Networks in Turkish Dayahead Market

Salih Gunduz, Umut Ugurlu, Ilkay Oksuz

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

1 Citation (Scopus)

Abstract

Forecasting electricity prices accurately is an essential requirement for the players in the market. The sequential data of electricity poses many challenges such as seasonality and high volatility. Recently, recurrent neural network based methods have showed great success in forecasting time series type problems. In this paper, we propose to use an encoder-decoder recurrent neural network for forecasting hourly electricity prices in the Turkish Day-ahead Market. The approach involves two recurrent neural networks, one to encode the source sequence, called the encoder, and a second to decode the encoded source sequence into the target sequence, called the decoder. We trained and tested our framework on the Turkish electricity price data from 2013 to 2016 and report the accuracy of various recurrent neural network models in terms of mean absolute error. The encoder-decoder recurrent neural networks achieved better accuracy compared to classical recurrent neural networks.

Translated title of the contributionElectricity Price Prediction Using Encoder-Decoder Recurrent Neural Networks in Turkish Dayahead Market
Original languageTurkish
Title of host publication2020 28th Signal Processing and Communications Applications Conference, SIU 2020 - Proceedings
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9781728172064
DOIs
Publication statusPublished - 5 Oct 2020
Event28th Signal Processing and Communications Applications Conference, SIU 2020 - Gaziantep, Turkey
Duration: 5 Oct 20207 Oct 2020

Publication series

Name2020 28th Signal Processing and Communications Applications Conference, SIU 2020 - Proceedings

Conference

Conference28th Signal Processing and Communications Applications Conference, SIU 2020
Country/TerritoryTurkey
CityGaziantep
Period5/10/207/10/20

Bibliographical note

Publisher Copyright:
© 2020 IEEE.

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