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Register a new userMonthly electricity consumption forecasting by the fruit fly optimization algorithm enhanced Holt-Winters smoothing method
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The electricity consumption forecasting is a critical component of the intelligent power system. And accurate monthly electricity consumption forecasting, as one of the the medium and long term electricity consumption forecasting problems, plays an important role in dispatching and management for electric power systems. Although there are many studies for this problem, large sample data set is generally required to obtain higher prediction accuracy, and the prediction performance become worse when only a little data is available. However, in practical, mostly we experience the problem of insufficient sample data and how to accurately forecast the monthly electricity consumption with limited sample data is a challenge task. The Holt-Winters exponential smoothing method often used to forecast periodic series due to low demand for training data and high accuracy for forecasting. In this paper, based on Holt-Winters exponential smoothing method, we propose a hybrid forecasting model named FOA-MHW. The main idea is that, we use fruit fly optimization algorithm to select smoothing parameters for Holt-Winters exponential smoothing method. Besides, electricity consumption data of a city in China is used to comprehensively evaluate the forecasting performance of the proposed model. The results indicate that our model can significantly improve the accuracy of monthly electricity consumption forecasting even in the case that only a small number of training data is available.
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We consider the setting of sequential prediction of arbitrary sequences based on specialized experts. We first provide a review of the relevant literature and present two theoretical contributions: a general analysis of the specialist aggregation rule of Freund et al. (1997) and an adaptation of fixed-share rules of Herbster and Warmuth (1998) in this setting. We then apply these rules to the sequential short-term (one-day-ahead) forecasting of electricity consumption; to do so, we consider two data sets, a Slovakian one and a French one, respectively concerned with hourly and half-hourly predictions. We follow a general methodology to perform the stated empirical studies and detail in particular tuning issues of the learning parameters. The introduced aggregation rules demonstrate an improved accuracy on the data sets at hand; the improvements lie in a reduced mean squared error but also in a more robust behavior with respect to large occasional errors.
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