@article{(Open Science Index):https://publications.waset.org/pdf/10009158,
	  title     = {Electricity Price Forecasting: A Comparative Analysis with Shallow-ANN and DNN},
	  author    = {Fazıl Gökgöz and  Fahrettin Filiz},
	  country	= {},
	  institution	= {},
	  abstract     = {Electricity prices have sophisticated features such as
high volatility, nonlinearity and high frequency that make forecasting
quite difficult. Electricity price has a volatile and non-random
character so that, it is possible to identify the patterns based on the
historical data. Intelligent decision-making requires accurate price
forecasting for market traders, retailers, and generation companies.
So far, many shallow-ANN (artificial neural networks) models have
been published in the literature and showed adequate forecasting
results. During the last years, neural networks with many hidden
layers, which are referred to as DNN (deep neural networks) have
been using in the machine learning community. The goal of this
study is to investigate electricity price forecasting performance of the
shallow-ANN and DNN models for the Turkish day-ahead electricity
market. The forecasting accuracy of the models has been evaluated
with publicly available data from the Turkish day-ahead electricity
market. Both shallow-ANN and DNN approach would give successful
result in forecasting problems. Historical load, price and weather
temperature data are used as the input variables for the models.
The data set includes power consumption measurements gathered
between January 2016 and December 2017 with one-hour resolution.
In this regard, forecasting studies have been carried out comparatively
with shallow-ANN and DNN models for Turkish electricity markets
in the related time period. The main contribution of this study
is the investigation of different shallow-ANN and DNN models
in the field of electricity price forecast. All models are compared
regarding their MAE (Mean Absolute Error) and MSE (Mean Square)
results. DNN models give better forecasting performance compare to
shallow-ANN. Best five MAE results for DNN models are 0.346,
0.372, 0.392, 0,402 and 0.409.},
	    journal   = {International Journal of Energy and Power Engineering},
	  volume    = {12},
	  number    = {6},
	  year      = {2018},
	  pages     = {421 - 425},
	  ee        = {https://publications.waset.org/pdf/10009158},
	  url   	= {https://publications.waset.org/vol/138},
	  bibsource = {https://publications.waset.org/},
	  issn  	= {eISSN: 1307-6892},
	  publisher = {World Academy of Science, Engineering and Technology},
	  index 	= {Open Science Index 138, 2018},
	}