A two-stage supervised learning approach for electricity price forecasting by leveraging different data sources

Over the years, the growing penetration of renewable energy into the electricity market has resulted in a significant change in the electricity market price. This change makes the existing forecasting method prone to error, decreasing the economic benefits. Hence, more precise forecasting methods need to be developed. This paper starts with a survey and benchmark of existing machine learning approaches for forecasting the real-time market (RTM) price.