Assessing the Performance-Efficiency Trade-off of Foundation Models in Probabilistic Electricity Price Forecasting
Large-scale renewable energy deployment introduces pronounced volatility into the electricity system, turning grid operation into a complex stochastic optimization problem. Accurate electricity price forecasting (EPF) is essential not only to support operational decisions, such as optimal bidding strategies and balancing power preparation, but also to reduce economic risk and improve market efficiency. Probabilistic forecasts are particularly valuable because they quantify uncertainty stemming from renewable intermittency, market coupling, and regulatory changes, enabling market participants to make informed decisions that minimize losses and optimize expected revenues. However, it remain...
| Authors | Jan Niklas Lettner, Hadeer El Ashhab, Veit Hagenmeyer et al. |
|---|---|
| Primary category | cs.LG |
| Published | 16 April 2026 |
| Last updated at source | 16 April 2026 |
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