A methodology to forecast the price of electric energy

The Electric Energy (EE) price plays a significant role in the economic assessment of chemical and more in general of industrial processes. As far as both short-term and long-term economic predictions are required (such as in planning, scheduling, supply chain, on-line optimization, and conceptual design) the estimation of future prices of EE calls for a mathematical model capable of forecasting the price values according to the intrinsic features of the electric market. The paper presents and discusses a methodology to deploy a quantitative econometric model that describes the deterministic dynamic attributes of EE price.