Comparisons of Machine Learning Methods for Electricity Regional Reference Price Forecasting

被引:0
|
作者
Meng, Ke [1 ]
Dong, Zhaoyang [2 ]
Wang, Honggang [3 ]
Wang, Youyi [4 ]
机构
[1] Univ Queensland, Sch Informat Technol & Elect Engn, St Lucia, Qld 4072, Australia
[2] Hong Kong Polytech Univ, Dept Elect Engn, Hong Kong, Hong Kong, Peoples R China
[3] East China Univ Sci & Technol, State Key Lab Chem Engn, Shanghai 200237, Peoples R China
[4] Nanyang Technol Univ, Sch Elect & Elect Engn, Singapore, Singapore
关键词
Electricity reference price forecasting; Support vector machine; Relevance vector machine;
D O I
暂无
中图分类号
TP18 [人工智能理论];
学科分类号
081104 ; 0812 ; 0835 ; 1405 ;
摘要
Effective and reliable electricity price forecast is essential for market participants in setting up appropriate risk management plans in all electricity market. In this paper, we investigate two state-of-the-art statistical learning, based machine learning techniques for electricity regional reference price forecasting, casting, namely support vector machine (SVM) and relevance vector machine (RVM). The study results achieved show that, the RVM outperforms the SVM in both forecasting accuracy and computational cost.
引用
收藏
页码:827 / +
页数:2
相关论文
共 50 条
  • [1] Electricity Price Forecasting: The Dawn of Machine Learning
    Jedrzejewski, Arkadiusz
    Lago, Jesus
    Marcjasz, Grzegorz
    Weron, Rafal
    [J]. IEEE POWER & ENERGY MAGAZINE, 2022, 20 (03): : 24 - 31
  • [2] Electricity Price Forecasting With Extreme Learning Machine and Bootstrapping
    Chen, Xia
    Dong, Zhao Yang
    Meng, Ke
    Ku, Yan
    Wong, Kit Po
    Ngan, H. W.
    [J]. IEEE TRANSACTIONS ON POWER SYSTEMS, 2012, 27 (04) : 2055 - 2062
  • [3] A Comparison of Deep Learning vs Traditional Machine Learning for Electricity Price Forecasting
    O'Leary, Christian
    Lynch, Conor
    Bain, Rose
    Smith, Gary
    Grimes, Diarmuid
    [J]. 2021 4TH INTERNATIONAL CONFERENCE ON INFORMATION AND COMPUTER TECHNOLOGIES (ICICT 2021), 2021, : 6 - 12
  • [4] Performance Comparison of Advanced Machine Learning Techniques for Electricity Price Forecasting
    Jana, Aryyama Kumar
    Paul, Rudrendu Kumar
    [J]. 2023 NORTH AMERICAN POWER SYMPOSIUM, NAPS, 2023,
  • [5] Electricity Load and Price Forecasting Using Enhanced Machine Learning Techniques
    Bano, Hamida
    Tahir, Aroosa
    Ali, Ishtiaq
    Khan, Raja Jalees ul Hussen
    Haseeb, Abdul
    Javaid, Nadeem
    [J]. INNOVATIVE MOBILE AND INTERNET SERVICES IN UBIQUITOUS COMPUTING, IMIS-2019, 2020, 994 : 255 - 267
  • [6] Transfer learning for electricity price forecasting
    Gunduz, Salih
    Ugurlu, Umut
    Oksuz, Ilkay
    [J]. SUSTAINABLE ENERGY GRIDS & NETWORKS, 2023, 34
  • [7] Day ahead carbon emission forecasting of the regional National Electricity Market using machine learning methods
    Aryai, Vahid
    Goldsworthy, Mark
    [J]. ENGINEERING APPLICATIONS OF ARTIFICIAL INTELLIGENCE, 2023, 123
  • [8] Electricity Price Forecasting for Cloud Computing Using an Enhanced Machine Learning Model
    Albahli, Saleh
    Shiraz, Muhammad
    Ayub, Nasir
    [J]. IEEE ACCESS, 2020, 8 : 200971 - 200981
  • [9] An integrated machine learning model for day-ahead electricity price forecasting
    Fan, Shu
    Liao, James R.
    Kaneko, Kazuhiro
    Chen, Luonan
    [J]. 2006 IEEE/PES POWER SYSTEMS CONFERENCE AND EXPOSITION. VOLS 1-5, 2006, : 1643 - +
  • [10] Electricity price forecasting on the day-ahead market using machine learning
    Tschora, Leonard
    Pierre, Erwan
    Plantevit, Marc
    Robardet, Celine
    [J]. APPLIED ENERGY, 2022, 313