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Price forecasts from a few hours to a few months ahead have become of particular interest to power portfolio managers. A power market company able to forecast the volatile wholesale prices with a reasonable level of accuracy can adjust its bidding strategy and its own production or consumption schedule in order to reduce the risk or maximize ...
While the Global Energy Forecasting Competition in 2012 was on point forecasting of electric load and wind power, the 2014 edition aimed at probabilistic forecasting of electric load, wind power, solar power and electricity prices. A 2023 textbook covers electricity load forecasting and provides tutorial material written in the python language ...
Electricity price forecasting (EPF) is a branch of energy forecasting which focuses on using mathematical, statistical and machine learning models to predict electricity prices in the future. Over the last 30 years electricity price forecasts have become a fundamental input to energy companies’ decision-making mechanisms at the corporate ...
Florida Power & Light joins Duke Energy Florida in opting to monitor the natural gas market rather than immediately raise monthly bills to cover the cost of fuel.
The price of natural gas, which is used to fuel power plants, has spiked in 2022. Fuel prices reached their highest point since 2008, a 75% markup from 2021. Fuel prices reached their highest ...
U.S. power consumption will rise to record highs in 2024 and 2025, the U.S. Energy Information Administration said in its Short Term Energy Outlook on Tuesday. ... Those forecasts compare to all ...
While prices have come down since the peak in June, prices were beginning to tick up again. Gas prices hit $3.79 a gallon the week of September 29, 2022, up from $3.73 on September 23, 2022 — an increase of $0.06 per gallon over the last week. [14] Since October 10, 2022, the price of gasoline has gone down again.
South Florida finally felt a cool-down in October — upper 50s in Miami! And in June, the Florida Public Service Commission approved a $359 million reduction to FPL’s 2023 fuel costs .