Advanced Forecasting in Energy Markets
|Name in diploma supplement||Advanced Forecasting in Energy Markets|
|Organisational Unit|| Juniorprofessur für Umweltökonomik, insb. Ökonomik erneuerbarer Energien (https://www.uee.wiwi.uni-due.de/)|
|Lecturers||Jun.-Prof. Dr. Florian Ziel|
|Cycle||summer semester||Participants at most||20|
Good knowledge of linear models and autoregressive processes. Experienced R knowledge. Sucessful participation in Econometrics of Electricity Markets is very helpful.
The purpose of this seminar is to provide an advanced understanding of modeling and forecasting methods in energy markets, esp. concerning probabilistic forecasting. The students apply sophisticated forecasting methods to real data (e.g. electricity or natural gas prices, electricity load, wind and solar power production) using the statistical Software R. They write a report and present their findings.
The focus of the seminar is placed especially on probabilistic forecasting with different applications in e.g. electricity price and electricity load or wind and solar power production forecasting. A particular attention is given to regression-based modeling methods for electricity market data.
In the first few weeks the students learn the concepts of probabilistic forecasting in classes. Afterwards they apply the methods to energy market data using R, write a report and present their results.
|WIWI‑C1106 - Seminar: Advanced Forecasting in Energy Markets|