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Structural combination of seasonal exponential smoothing forecasts applied to load forecasting

Author

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  • Rendon-Sanchez, Juan F.
  • de Menezes, Lilian M.
Abstract
This article draws from research on ensembles in computational intelligence to propose structural combinations of forecasts, which are point forecast combinations that are based on information from the parameters of the individual models that generated the forecasts. Two types of structural combination are proposed which use seasonal exponential smoothing as base models, and are applied to forecast short-term electricity demand. Although forecasting performance may depend on how ensembles are generated, results show that the proposed combinations can outperform competitive benchmarks. The methods can be used to forecast other seasonal data and be extended to different types of forecasting models.

Suggested Citation

  • Rendon-Sanchez, Juan F. & de Menezes, Lilian M., 2019. "Structural combination of seasonal exponential smoothing forecasts applied to load forecasting," European Journal of Operational Research, Elsevier, vol. 275(3), pages 916-924.
    • Handle: RePEc:eee:ejores:v:275:y:2019:i:3:p:916-924
    DOI: 10.1016/j.ejor.2018.12.013
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    Cited by:

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    4. Mobarak Abumohsen & Amani Yousef Owda & Majdi Owda, 2023. "Electrical Load Forecasting Using LSTM, GRU, and RNN Algorithms," Energies, MDPI, vol. 16(5), pages 1-31, February.
    5. Jiang, Weiheng & Wu, Xiaogang & Gong, Yi & Yu, Wanxin & Zhong, Xinhui, 2020. "Holt–Winters smoothing enhanced by fruit fly optimization algorithm to forecast monthly electricity consumption," Energy, Elsevier, vol. 193(C).
    6. Songjiang Li & Wenxin Zhang & Peng Wang, 2023. "TS2ARCformer: A Multi-Dimensional Time Series Forecasting Framework for Short-Term Load Prediction," Energies, MDPI, vol. 16(15), pages 1-22, August.
    7. Wang, Jianzhou & Zhang, Linyue & Li, Zhiwu, 2022. "Interval forecasting system for electricity load based on data pre-processing strategy and multi-objective optimization algorithm," Applied Energy, Elsevier, vol. 305(C).
    8. Xiao, Wenjing & Mo, Li & Xu, Zhanxing & Liu, Chang & Zhang, Yongchuan, 2024. "A hybrid electric load forecasting model based on decomposition considering fisher information," Applied Energy, Elsevier, vol. 364(C).
    9. Meira, Erick & Cyrino Oliveira, Fernando Luiz & de Menezes, Lilian M., 2022. "Forecasting natural gas consumption using Bagging and modified regularization techniques," Energy Economics, Elsevier, vol. 106(C).
    10. Wang, Xiaoqian & Hyndman, Rob J. & Li, Feng & Kang, Yanfei, 2023. "Forecast combinations: An over 50-year review," International Journal of Forecasting, Elsevier, vol. 39(4), pages 1518-1547.
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    14. Shichao Huang & Jing Zhang & Yu He & Xiaofan Fu & Luqin Fan & Gang Yao & Yongjun Wen, 2022. "Short-Term Load Forecasting Based on the CEEMDAN-Sample Entropy-BPNN-Transformer," Energies, MDPI, vol. 15(10), pages 1-14, May.
    15. He Jiang & Weihua Zheng, 2022. "Deep learning with regularized robust long‐ and short‐term memory network for probabilistic short‐term load forecasting," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 41(6), pages 1201-1216, September.
    16. Mengran Zhou & Tianyu Hu & Kai Bian & Wenhao Lai & Feng Hu & Oumaima Hamrani & Ziwei Zhu, 2021. "Short-Term Electric Load Forecasting Based on Variational Mode Decomposition and Grey Wolf Optimization," Energies, MDPI, vol. 14(16), pages 1-17, August.
    17. Joanna Piotrowska-Woroniak & Krzysztof Nęcka & Tomasz Szul & Stanisław Lis, 2024. "Comparative Analysis of Methods for Predicting Brine Temperature in Vertical Ground Heat Exchanger—A Case Study," Energies, MDPI, vol. 17(6), pages 1-13, March.
    18. Jiang, Ping & Liu, Zhenkun & Wang, Jianzhou & Zhang, Lifang, 2021. "Decomposition-selection-ensemble forecasting system for energy futures price forecasting based on multi-objective version of chaos game optimization algorithm," Resources Policy, Elsevier, vol. 73(C).
    19. Meira, Erick & Cyrino Oliveira, Fernando Luiz & de Menezes, Lilian M., 2021. "Point and interval forecasting of electricity supply via pruned ensembles," Energy, Elsevier, vol. 232(C).
    20. Ding, Jia & Wang, Maolin & Ping, Zuowei & Fu, Dongfei & Vassiliadis, Vassilios S., 2020. "An integrated method based on relevance vector machine for short-term load forecasting," European Journal of Operational Research, Elsevier, vol. 287(2), pages 497-510.
    21. Leonardo Brain García Fernández & Anna Diva Plasencia Lotufo & Carlos Roberto Minussi, 2023. "Development of a Short-Term Electrical Load Forecasting in Disaggregated Levels Using a Hybrid Modified Fuzzy-ARTMAP Strategy," Energies, MDPI, vol. 16(10), pages 1-30, May.
    22. Qingqing Ji & Shiyu Zhang & Qiao Duan & Yuhan Gong & Yaowei Li & Xintong Xie & Jikang Bai & Chunli Huang & Xu Zhao, 2022. "Short- and Medium-Term Power Demand Forecasting with Multiple Factors Based on Multi-Model Fusion," Mathematics, MDPI, vol. 10(12), pages 1-30, June.

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