page_title: Electricity price forecasting
section_title: Taxonomy of modeling approaches
hierarchical_section_title: Electricity price forecasting / Taxonomy of modeling approaches
caption_attribution_description: English: EPF taxonomy
context_page_description: Electricity price forecasting is a branch of energy forecasting which focuses on predicting the spot and forward prices in wholesale electricity markets. Over the last 15 years electricity price forecasts have become a fundamental input to energy companies’ decision-making mechanisms at the corporate level.
context_section_description: A variety of methods and ideas have been tried for EPF over the last 15 years, with varying degrees of success. They can be broadly classified into six groups.
caption: A taxonomy of electricity price forecasting (EPF) and modeling approaches according to Weron (2014).
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