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英语翻译
An important input to the decision-making activities of a Genco is a good forecast of the market prices.This is important because an accurate forecast of the short-term market price helps the Genco to bid for power sell or buy appropriately and strategically,thereby providing higher returns.Bilateral contract prices also have a tendency to be indirectly affected by spot-price trends.Thus good spot market price forecasts can help set up profitable bilateral contracts.In the short-term markets,continuous trading up to 2 h in advance of real-time is possible.In these markets,the prices can be highly volatile to system conditions such as sudden outages,and external factors such as temperature variations,and rainfall.It is usually of great interest to Gencos and other market players to have a good forecast toolbox for these prices.Price forecast in the general sense also include forecast of futures and forward market prices [1].These forecasts may be carried out months or even a year in advance.These forecasts may be useful if the Genco is contemplating investments in generation capacity,market risk analysis,production and maintenance planning,among others.Most often the Genco has an in-house price forecast tool based on available forecasting methods such as the conventional linear regression analysis technique,to cater to the need of a price forecast.
An important input to the decision-making activities of a Genco is a good forecast of the market prices.This is important because an accurate forecast of the short-term market price helps the Genco to bid for power sell or buy appropriately and strategically,thereby providing higher returns.Bilateral contract prices also have a tendency to be indirectly affected by spot-price trends.Thus good spot market price forecasts can help set up profitable bilateral contracts.In the short-term markets,continuous trading up to 2 h in advance of real-time is possible.In these markets,the prices can be highly volatile to system conditions such as sudden outages,and external factors such as temperature variations,and rainfall.It is usually of great interest to Gencos and other market players to have a good forecast toolbox for these prices.Price forecast in the general sense also include forecast of futures and forward market prices [1].These forecasts may be carried out months or even a year in advance.These forecasts may be useful if the Genco is contemplating investments in generation capacity,market risk analysis,production and maintenance planning,among others.Most often the Genco has an in-house price forecast tool based on available forecasting methods such as the conventional linear regression analysis technique,to cater to the need of a price forecast.
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