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University of Cambridge > Talks.cam > Isaac Newton Institute Seminar Series > Electricity demand forecasting and bidding via data-driven inverse optimization

## Electricity demand forecasting and bidding via data-driven inverse optimizationAdd to your list(s) Download to your calendar using vCal - Juan Miguel Morales González (Universidad de Málaga)
- Tuesday 08 January 2019, 13:30-14:30
- Seminar Room 1, Newton Institute.
If you have a question about this talk, please contact info@newton.ac.uk. MESW01 - Flexible operation and advanced control for energy systems A method to predict the aggregate demand of a cluster of price-responsive consumers of electricity is discussed in this presentation. The price-response of the aggregation is modelled by an optimization problem whose defining parameters represent a series of marginal utility curves, and minimum and maximum consumption limits. These parameters are, in turn, estimated from observational data using an approach inspired from duality theory. The resulting estimation problem is nonconvex, which makes it very hard to solve. In order to obtain good parameter estimates in a reasonable amount of time, we divide the estimation problem into a feasibility problem and an optimality problem. Furthermore, the feasibility problem includes a penalty term that is statistically adjusted by cross validation. The proposed methodology is data-driven and leverages information from regressors, such as time and weather variables, to account for changes in the parameter estimates. The estimated price-response model is used to forecast the power load of a group of heating, ventilation and air conditioning systems, with positive results. We also show how this method can be easily extended to be used for demand-side bidding in electricity markets. This talk is part of the Isaac Newton Institute Seminar Series series. ## This talk is included in these lists:- All CMS events
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