Ahmed Aziz Ezzat

Keyi Wang, Jiaxiang Ji, Mahan Mansouri et al.

Electricity price signals in modern power systems exhibit complex dependence structures that render forecasting inherently challenging. Our analysis of real-world pricing signals from the California Independent System Operator (CAISO) reveals complex temporal group effects, whereby the influence of explanatory variables on electricity prices persists across consecutive blocks of time due to underlying economic and operational drivers. In response, we propose a multivariate statistical method based on a Group Lasso formulation to forecast the vector of day-ahead electricity prices, by leveraging multi-feature temporal group effects. Our approach is evaluated on two full years of electricity prices from CAISO, demonstrating considerable improvements in point and probabilistic forecast metrics compared to a wide array of statistical and deep learning methods. Theoretical and empirical analyses confirm the effectiveness of the proposed approach in modeling realistic group effects, maintaining both interpretability and low computational complexity. When retrospectively evaluated on test data from a recent international electricity price forecasting challenge, the proposed method ranked in second place, despite having access to significantly less information than competing approaches. Finally, the proposed method is independently validated against two operational electricity price forecasting systems in CAISO, demonstrating competitive predictive performance and practical relevance.

Feng Ye, Xinxi Zhang, Michael Stein et al.

To unlock access to stronger winds, the offshore wind industry is advancing towards significantly larger and taller wind turbines. This massive upscaling motivates a departure from wind forecasting methods that traditionally focused on a single representative height. To fill this gap, we propose DeepMIDE--a statistical deep learning method which jointly models the offshore wind speeds across space, time, and height. DeepMIDE is formulated as a multi-output integro-difference equation model with a multivariate nonstationary kernel characterized by a set of advection vectors that encode the physics of wind field formation and propagation. Embedded within DeepMIDE, an advanced deep learning architecture learns these advection vectors from high-dimensional streams of exogenous weather information, which, along with other parameters, are plugged back into the statistical model for probabilistic multi-height space-time forecasting. Tested on real-world data from offshore wind energy areas in the Northeastern United States, the wind speed and power forecasts from DeepMIDE are shown to outperform those from prevalent time series, spatio-temporal, and deep learning methods.