Sister models for load forecast combination

Bidong Liu, Jiali Liu and Tao Hong

No HSC/15/02, HSC Research Reports from Hugo Steinhaus Center, Wroclaw University of Science and Technology

Abstract: This paper introduces the concept of sister models, and proposes a sister model based load forecast combination method to enhance the point forecasting accuracy. Using the data from the Global Energy Forecasting Competition 2014, we create a case study with 4 sister forecasts from 4 sister models. The result shows that the simple average of the 4 sister forecasts yields lower error than each individual forecast by 2% to 10%.

Keywords: Electric load forecasting; Forecast combination; Sister forecast (search for similar items in EconPapers)
JEL-codes: C22 C32 C53 Q47 (search for similar items in EconPapers)
Pages: 4 pages
Date: 2015-02-05
New Economics Papers: this item is included in nep-ene and nep-for
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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http://www.im.pwr.wroc.pl/~hugo/RePEc/wuu/wpaper/HSC_15_02.pdf Original version, 2015 (application/pdf)

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