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International Journal of Academic Research in Accounting, Finance and Management Sciences

Open Access Journal

ISSN: 2225-8329

Fusion AR-EEMD and Moving Average Model based on Long-Short Term Memory Network for Forecasting Electricity Loads

Liang-Ying Wei

http://dx.doi.org/10.6007/IJARAFMS/v14-i1/20439

Open access

Economic and industry growth increases the demand for electricity, forecasting electricity loads is critical for distribution and production of electricity. However, the former forecasting models have three shortcomings: (1) Most of the models use single input feature for forecasting and the forecasting performances of those models are not good enough; (2) Past forecasting methods have used EMD (empirical mode decomposition) method to decompose raw time series data containing noise to improve prediction performance, however EMD method can not handle mode mixing problem; and (3) The recurrent neural network encounters the problem of gradient disappearance or explosion when learning the time series of long-term dependencies. Therefore, proposed model uses autoregressive method and use the EEMD (ensemble empirical mode decomposition) algorithm (which can overcome the mode mixing problem) for time series data decomposition. Further, values produced by moving averages are as input attributes of proposed model to improve forecasting performance. Finally, long-short term memory neural networks (which can solve the shortcomings of recurrent neural networks) are used to build predictive models to enhance electricity loads forecasting model. In the last step of this study, practical electricity loads datasets will be collected to validate the proposed model. Experimental results show that proposed model can improve the accuracy of prediction.

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(Wei, 2024)
Wei, L.-Y. (2024). Fusion AR-EEMD and Moving Average Model based on Long-Short Term Memory Network for Forecasting Electricity Loads. International Journal of Academic Research in Accounting Finance and Management Sciences, 14(1), 81–96.