Prediction of electricity market clearing price using machine learning and deep learning

The market clearing price is the equilibrium monetary value of a traded asset or good and is an important metric in the calculation of electricity prices. In our country, when the electricity price is determined by the companies and in the price changes, market clearing prices are calculated. In this study, forecasting models consisting of 24 forecasts were created in order to make one day forecasts using hourly market clearing price data. The main objective of this thesis is to estimate the market clearing price of electricity using Multilayer Perceptron (MLP), Recurrent Neural Network (RNN), Convolutional Neural Network (CNN) and Long Short Term Memory (LSTM), which are machine learning and deep learning methods and to create appropriate models. The performance of the predicted models was evaluated by calculating the Mean Absolute Percent Error (MAPE) value. The results generally show that LSTM (Long Short Term Memory) and CNN (Convolutional Neural Network) based models perform better than other methods. Keywords: Machine and Deep Learning, Forecast, Market Clearing Price