Partitioning-clustering techniques applied to the electricity price time series

  • Authors:
  • F. Martínez-Álvarez;A. Troncoso;J. C. Riquelme;J. M. Riquelme

  • Affiliations:
  • Area of Computer Science. Pablo de Olavide University, Spain;Area of Computer Science. Pablo de Olavide University, Spain;Department of Computer Science. University of Seville, Spain;Department of Electrical Engineering. University of Seville, Spain

  • Venue:
  • IDEAL'07 Proceedings of the 8th international conference on Intelligent data engineering and automated learning
  • Year:
  • 2007

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Abstract

Clustering is used to generate groupings of data from a large dataset, with the intention of representing the behavior of a system as accurately as possible. In this sense, clustering is applied in this work to extract useful information from the electricity price time series. To be precise, two clustering techniques, K-means and Expectation Maximization, have been utilized for the analysis of the prices curve, demonstrating that the application of these techniques is effective so to split the whole year into different groups of days, according to their prices conduct. Later, this information will be used to predict the price in the short time period. The prices exhibited a remarkable resemblance among days embedded in a same season and can be split into two major kind of clusters: working days and festivities.