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Modeling and forecasting daily electricity load curves: a hybrid approach

Cho, Haeran, Goude, Yannig, Brossat, Xavier and Yao, Qiwei ORCID: 0000-0003-2065-8486 (2013) Modeling and forecasting daily electricity load curves: a hybrid approach. Journal of the American Statistical Association, 108 (501). pp. 7-21. ISSN 0162-1459

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Identification Number: 10.1080/01621459.2012.722900

Abstract

We propose a hybrid approach for the modeling and the short-term forecasting of electricity loads. Two building blocks of our approach are (1) modeling the overall trend and seasonality by fitting a generalized additive model to the weekly averages of the load and (2) modeling the dependence structure across consecutive daily loads via curve linear regression. For the latter, a new methodology is proposed for linear regression with both curve response and curve regressors. The key idea behind the proposed methodology is dimension reduction based on a singular value decomposition in a Hilbert space, which reduces the curve regression problem to several ordinary (i.e., scalar) linear regression problems. We illustrate the hybrid method using French electricity loads between 1996 and 2009, on which we also compare our method with other available models including the Électricité de France operational model. Supplementary materials for this article are available online.

Item Type: Article
Official URL: http://www.tandfonline.com/toc/uasa20/current
Additional Information: © 2013 Taylor & Francis
Divisions: Statistics
Subjects: H Social Sciences > HA Statistics
Q Science > QA Mathematics
Date Deposited: 10 Apr 2013 09:08
Last Modified: 15 Mar 2024 07:36
Projects: EP/G026874/1
Funders: Engineering and Physical Sciences Research Council
URI: http://eprints.lse.ac.uk/id/eprint/49634

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