{"id":"https://openalex.org/W4408304440","doi":"https://doi.org/10.1109/iecon55916.2024.10906045","title":"Large Language Model for Extreme Electricity Price Forecasting in the Australia Electricity Market","display_name":"Large Language Model for Extreme Electricity Price Forecasting in the Australia Electricity Market","publication_year":2024,"publication_date":"2024-11-03","ids":{"openalex":"https://openalex.org/W4408304440","doi":"https://doi.org/10.1109/iecon55916.2024.10906045"},"language":"en","primary_location":{"id":"doi:10.1109/iecon55916.2024.10906045","is_oa":false,"landing_page_url":"https://doi.org/10.1109/iecon55916.2024.10906045","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"IECON 2024 - 50th Annual Conference of the IEEE Industrial Electronics Society","raw_type":"proceedings-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5100322200","display_name":"Chen Liu","orcid":"https://orcid.org/0000-0003-1558-6836"},"institutions":[{"id":"https://openalex.org/I82951845","display_name":"RMIT University","ror":"https://ror.org/04ttjf776","country_code":"AU","type":"education","lineage":["https://openalex.org/I82951845"]}],"countries":["AU"],"is_corresponding":true,"raw_author_name":"Chen Liu","raw_affiliation_strings":["RMIT University,School of Engineering,Australia"],"affiliations":[{"raw_affiliation_string":"RMIT University,School of Engineering,Australia","institution_ids":["https://openalex.org/I82951845"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5072153990","display_name":"Linzhe Cai","orcid":"https://orcid.org/0000-0003-2420-3278"},"institutions":[{"id":"https://openalex.org/I82951845","display_name":"RMIT University","ror":"https://ror.org/04ttjf776","country_code":"AU","type":"education","lineage":["https://openalex.org/I82951845"]}],"countries":["AU"],"is_corresponding":false,"raw_author_name":"Linzhe Cai","raw_affiliation_strings":["RMIT University,School of Engineering,Australia"],"affiliations":[{"raw_affiliation_string":"RMIT University,School of Engineering,Australia","institution_ids":["https://openalex.org/I82951845"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5053745441","display_name":"Geordie Dalzell","orcid":null},"institutions":[{"id":"https://openalex.org/I82951845","display_name":"RMIT University","ror":"https://ror.org/04ttjf776","country_code":"AU","type":"education","lineage":["https://openalex.org/I82951845"]}],"countries":["AU"],"is_corresponding":false,"raw_author_name":"Geordie Dalzell","raw_affiliation_strings":["RMIT University,School of Engineering,Australia"],"affiliations":[{"raw_affiliation_string":"RMIT University,School of Engineering,Australia","institution_ids":["https://openalex.org/I82951845"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5029640560","display_name":"Nishan Mills","orcid":"https://orcid.org/0000-0003-2157-3767"},"institutions":[{"id":"https://openalex.org/I196829312","display_name":"La Trobe University","ror":"https://ror.org/01rxfrp27","country_code":"AU","type":"education","lineage":["https://openalex.org/I196829312"]}],"countries":["AU"],"is_corresponding":false,"raw_author_name":"Nishan Mills","raw_affiliation_strings":["La Trobe University,Australia"],"affiliations":[{"raw_affiliation_string":"La Trobe University,Australia","institution_ids":["https://openalex.org/I196829312"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":4,"corresponding_author_ids":["https://openalex.org/A5100322200"],"corresponding_institution_ids":["https://openalex.org/I82951845"],"apc_list":null,"apc_paid":null,"fwci":0.8656,"has_fulltext":false,"cited_by_count":4,"citation_normalized_percentile":{"value":0.7532765,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":97,"max":98},"biblio":{"volume":null,"issue":null,"first_page":"1","last_page":"6"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11052","display_name":"Energy Load and Power Forecasting","score":0.9950000047683716,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},"topics":[{"id":"https://openalex.org/T11052","display_name":"Energy Load and Power Forecasting","score":0.9950000047683716,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T10424","display_name":"Electric Power System Optimization","score":0.9652000069618225,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T11941","display_name":"Power System Reliability and Maintenance","score":0.9254000186920166,"subfield":{"id":"https://openalex.org/subfields/2213","display_name":"Safety, Risk, Reliability and Quality"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/electricity-market","display_name":"Electricity market","score":0.7622346878051758},{"id":"https://openalex.org/keywords/electricity","display_name":"Electricity","score":0.7115757465362549},{"id":"https://openalex.org/keywords/electricity-price","display_name":"Electricity price","score":0.5336374044418335},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.46681615710258484},{"id":"https://openalex.org/keywords/electricity-retailing","display_name":"Electricity retailing","score":0.44025561213493347},{"id":"https://openalex.org/keywords/econometrics","display_name":"Econometrics","score":0.32062768936157227},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.27461177110671997},{"id":"https://openalex.org/keywords/engineering","display_name":"Engineering","score":0.1224297285079956},{"id":"https://openalex.org/keywords/electrical-engineering","display_name":"Electrical engineering","score":0.1087513267993927}],"concepts":[{"id":"https://openalex.org/C146733006","wikidata":"https://www.wikidata.org/wiki/Q676081","display_name":"Electricity market","level":3,"score":0.7622346878051758},{"id":"https://openalex.org/C206658404","wikidata":"https://www.wikidata.org/wiki/Q12725","display_name":"Electricity","level":2,"score":0.7115757465362549},{"id":"https://openalex.org/C2983129042","wikidata":"https://www.wikidata.org/wiki/Q870344","display_name":"Electricity price","level":3,"score":0.5336374044418335},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.46681615710258484},{"id":"https://openalex.org/C57101690","wikidata":"https://www.wikidata.org/wiki/Q2356921","display_name":"Electricity retailing","level":4,"score":0.44025561213493347},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.32062768936157227},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.27461177110671997},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.1224297285079956},{"id":"https://openalex.org/C119599485","wikidata":"https://www.wikidata.org/wiki/Q43035","display_name":"Electrical engineering","level":1,"score":0.1087513267993927}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1109/iecon55916.2024.10906045","is_oa":false,"landing_page_url":"https://doi.org/10.1109/iecon55916.2024.10906045","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"IECON 2024 - 50th Annual Conference of the IEEE Industrial Electronics Society","raw_type":"proceedings-article"}],"best_oa_location":null,"sustainable_development_goals":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":18,"referenced_works":["https://openalex.org/W2134654107","https://openalex.org/W2570157475","https://openalex.org/W2788239866","https://openalex.org/W2801761896","https://openalex.org/W2802410020","https://openalex.org/W2886716838","https://openalex.org/W2890621643","https://openalex.org/W2899988116","https://openalex.org/W2910694264","https://openalex.org/W2963148318","https://openalex.org/W3198269957","https://openalex.org/W4283318673","https://openalex.org/W6684531560","https://openalex.org/W6796456916","https://openalex.org/W6796581206","https://openalex.org/W6810637551","https://openalex.org/W6853251322","https://openalex.org/W6857005926"],"related_works":["https://openalex.org/W2359500417","https://openalex.org/W2383586764","https://openalex.org/W2356680598","https://openalex.org/W4295214998","https://openalex.org/W2966111772","https://openalex.org/W2477218593","https://openalex.org/W2534087084","https://openalex.org/W2305061769","https://openalex.org/W3093216143","https://openalex.org/W2385067961"],"abstract_inverted_index":{"This":[0],"work":[1],"addresses":[2],"the":[3,11,30,37,41,79,88,138,151,154],"challenge":[4],"of":[5,32,39,57,90,122,153],"accurately":[6],"forecasting":[7,74],"electricity":[8,33,58,62,109,140],"prices":[9],"within":[10],"volatile":[12],"Australian":[13,61,139],"market,":[14,141],"especially":[15],"during":[16],"extreme":[17,44,123],"conditions.":[18],"It":[19],"leverages":[20],"advanced":[21],"generative":[22],"pre-trained":[23],"Large":[24],"Language":[25],"Models":[26],"(LLMs)":[27],"to":[28,67,93,106,145],"analyze":[29],"content":[31],"market":[34,91,113],"notices":[35,92],"with":[36,65],"goal":[38],"identifying":[40],"drivers":[42],"behind":[43],"price":[45,110,124],"fluctuations.":[46],"Additionally,":[47],"this":[48,76],"approach":[49],"employs":[50],"LLMs":[51],"for":[52,82],"an":[53],"in-depth":[54],"time-series":[55],"analysis":[56,89],"prices,":[59],"providing":[60],"company":[63],"traders":[64,148],"insights":[66],"refine":[68],"their":[69],"trading":[70],"strategies.":[71],"To":[72],"enhance":[73],"accuracy":[75],"study":[77],"adopts":[78],"QLoRA":[80],"method":[81],"fine-tuning":[83],"open":[84],"access":[85],"LLMs,":[86],"enabling":[87],"generate":[94],"a":[95],"time":[96],"series":[97],"event":[98],"dataset.":[99],"A":[100],"CNN-LSTM":[101],"network":[102],"architecture":[103],"is":[104],"designed":[105],"process":[107],"both":[108],"data":[111,136],"and":[112,133],"notice":[114],"information,":[115],"thereby":[116],"improving":[117],"forecast":[118],"precision":[119],"in":[120,149],"periods":[121],"volatility.":[125],"The":[126],"proposed":[127],"decision":[128],"support":[129],"framework":[130],"undergoes":[131],"simulation":[132],"evaluation":[134],"using":[135],"from":[137],"demonstrating":[142],"its":[143],"potential":[144],"significantly":[146],"benefit":[147],"navigating":[150],"complexities":[152],"energy":[155],"sector.":[156]},"counts_by_year":[{"year":2025,"cited_by_count":4}],"updated_date":"2026-03-15T09:29:46.208133","created_date":"2025-10-10T00:00:00"}