A Novel NODE Approach Combined with LSTM for Short-Term Electricity Load Forecasting

Songtao Huang, Jun Shen, Qingquan Lv, Qingguo Zhou and Binbin Yong ()
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Songtao Huang: School of Information Science and Engineering, Lanzhou University, Lanzhou 730000, China
Jun Shen: School of Computing and Information Technology, University of Wollongong, Wollongong 2500, Australia
Qingquan Lv: School of Information Science and Engineering, Lanzhou University, Lanzhou 730000, China
Qingguo Zhou: School of Information Science and Engineering, Lanzhou University, Lanzhou 730000, China
Binbin Yong: School of Information Science and Engineering, Lanzhou University, Lanzhou 730000, China

Future Internet, 2022, vol. 15, issue 1, 1-20

Abstract: Electricity load forecasting has seen increasing importance recently, especially with the effectiveness of deep learning methods growing. Improving the accuracy of electricity load forecasting is vital for public resources management departments. Traditional neural network methods such as long short-term memory (LSTM) and bidirectional LSTM (BiLSTM) have been widely used in electricity load forecasting. However, LSTM and its variants are not sensitive to the dynamic change of inputs and miss the internal nonperiodic rules of series, due to their discrete observation interval. In this paper, a novel neural ordinary differential equation (NODE) method, which can be seen as a continuous version of residual network (ResNet), is applied to electricity load forecasting to learn dynamics of time series. We design three groups of models based on LSTM and BiLSTM and compare the accuracy between models using NODE and without NODE. The experimental results show that NODE can improve the prediction accuracy of LSTM and BiLSTM. It indicates that NODE is an effective approach to improving the accuracy of electricity load forecasting.

Keywords: neural ordinary differential equation; LSTM; bidirectional LSTM; short-term load forecasting (search for similar items in EconPapers)
JEL-codes: O3 (search for similar items in EconPapers)
Date: 2022
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