moving average (ARMA) models with generalized autoregressive conditional heteroskedasticity (GARCH) processes, namely ARMA–GARCH … models, along with their modified forms, ARMA–GARCH-in-mean (ARMA–GARCH-M), to model and forecast hourly ahead electricity … the ARMA–GARCH based time series forecasting of electricity prices. Multiple statistical measures are employed to evaluate …