ECOTOOL: A general MATLAB Forecasting Toolbox with Applications to Electricity Markets

  • Diego J. Pedregal
  • Javier Contreras
  • Agustín A. Sánchez de la Nieta
Part of the Energy Systems book series (ENERGY)


Electricity markets are composed of different agents that make their offers to sell and/or buy energy. These agents need forecasting tools to have an accurate prediction of the prices that they will face either in the day-ahead or long-term time spans. This work presents the ECOnometrics TOOLbox (ECOTOOL), a new MATLAB forecasting toolbox that embodies several tools for identification, validation and forecasting models based on time series analysis, among them, ARIMA, Exponential Smoothing, Unobserved Components, ARX, ARMAX, Transfer Function, Dynamic Regression and Distributed Lag models. The toolbox is presented in all its potentiality and several real case studies, both on the short and medium term, are shown to illustrate its applicability.


ARIMA ARMAX ARX Dynamic regression Exponential smoothing MATLAB forecasting toolbox Transfer function 



This work was supported in part by the Spanish Ministry of Education grant ENE2009-09541 and the Junta de Comunidades de Castilla – La Mancha grants PII2I09-0154-7984 and PII1I09-0209-6050.


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Copyright information

© Springer-Verlag Berlin Heidelberg 2012

Authors and Affiliations

  • Diego J. Pedregal
    • 1
  • Javier Contreras
    • 2
  • Agustín A. Sánchez de la Nieta
    • 3
  1. 1.E.T.S. de Ingenieros Industriales and Institute of Applied Mathematics to Science and Engineering (IMACI)University of Castilla – La ManchaCiudad RealSpain
  2. 2.E.T.S. de Ingenieros Industriales and Institute of Energy Research and Industrial Applications (INEI)University of Castilla – La ManchaCiudad RealSpain
  3. 3.E.T.S. de Ingenieros IndustrialesUniversity of Castilla – La ManchaCiudad RealSpain

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