← Back to all news
arXiv Machine Learning

Foundation models for electricity price forecasting and battery arbitrage: Can they replace market-specific forecasting models?

The study evaluates nine foundation model variants against two leading electricity price forecasting benchmarks across Germany, Poland, and Spain for 2021‑2025. Only the TabPFN models consistently outperform the benchmarks in both point and probabilistic accuracy, yet their economic advantage varies with bidding strategy and risk tolerance. The results indicate that foundation models cannot universally replace market‑specific models; their usefulness depends on the chosen architecture and the particular decision problem.

Related stories

arXiv Machine Learning
Sep 10

Electricity Price Forecasting: Bridging Linear Models, Neural Networks and Online Learning

The paper presents a hybrid neural architecture that blends linear and nonlinear feed‑forward networks for day‑ahead electricity price forecasting. It introduces a partial online learning strategy with warm‑starting and stage‑specific hyperparameters to cut computational time, and employs Bernstein Online Aggregation to combine forecasts. Experiments on six years of major European markets show the method reduces RMSE by 11‑12% and MAE by 14‑17% compared to state‑of‑the‑art benchmarks while lowering computational cost.

By Btissame El Mahtout, Florian Ziel
benchmarks
More like this →
arXiv Machine Learning
Aug 19

Deep Learning for Cross-Border Electricity Price Forecasting: A Comparative Study

The paper presents a comparative study of six deep learning models—state-space, MLP, RNN, and Transformer-based architectures—for cross-border electricity price forecasting using publicly available data. It focuses on generalization across markets and evaluates performance under low-data target-market conditions (zero-shot, one-shot, few-shot) with a standardized dataset for the Germany‑Luxembourg bidding zone in 2024. Results show that N‑HiTS and NBEATSx perform competitively in limited‑data scenarios, while transformer models achieve comparable accuracy but require more adaptation and tuning, and that careful feature selection and hyperparameter tuning improve performance.

By Hadeer Elashhab, Sai Srijan Papineni, Marvin Dorn, Veit Hagenmeyer, Benjamin Sch\"afer
llmsbenchmarks
More like this →
arXiv Machine Learning
Jun 18

RNN(p) for Power Consumption Forecasting

arXiv:2209. 01378v3 Announce Type: replace Abstract: An elementary Recurrent Neural Network that operates on p time lags, called an RNN(p), is the natural generalisation of a linear autoregressive model ARX(p).

By Roberto Baviera, Pietro Manzoni
safety
More like this →
arXiv Machine Learning
Jun 5

Electricity price forecasting across Norway's five bidding zones in the post-crisis era

arXiv:2604. 26634v2 Announce Type: replace Abstract: Norway's electricity market is heavily dominated by hydropower, but the 2021-2022 energy crisis and stronger integration with Continental Europe have fundamentally altered price formation, reducing the reliability of forecasting models calibrated on historical data.

By My Thi Diem Phan, Trung Tuyen Truong, Hoai Phuong Ha, Dat Thanh Nguyen
multimodalbenchmarkssafety
More like this →
arXiv Machine Learning
Oct 9

Deep Learning vs. Statistical Models for Multi-Horizon Price Forecasting of Second-Hand Electronics: A Systematic Benchmark

The paper introduces the first multi‑horizon benchmark for forecasting resale prices of second‑hand electronics, comparing eleven statistical and deep learning models on a large Polish marketplace dataset covering 100+ smartphone and laptop models from January 2022 to March 2025. Across horizons from 1 to 365 days, N‑BEATS consistently outperforms all statistical baselines, achieving an 8.51% MAPE at 365 days versus 14.94% for the best baseline—a 43% reduction—while all models converge to about 0.72% MAPE for short horizons. A single N‑BEATS model trained for the 365‑day horizon generalizes to all shorter horizons, eliminating the need for horizon‑specific models, and N‑BEATS and N‑HiTS show superior hyperparameter stability.

By Mateusz Buczy\'nski, Micha{\l} Wo\'zniak, Konrad Kaczy\'nski, Anna Wr\'oblewska, Sebastian Kuk
benchmarks
More like this →
Hugging Face Trending Papers
Jul 2

Probabilistic Low-Voltage Peak Load Forecasting with Time Series Foundation Models Evaluated on Application-Oriented Metrics

Low-voltage load forecasting is an important component in current and future energy systems with a high degree of electrification and decentralized generation. However, current forecasting methods require significant manual effort, often lack uncertainty estimation and proper peak prediction, and they are often not adequately evaluated in terms of grid requirements.

benchmarks
More like this →