Sister models for load forecast combination

This paper introduces the concept of sister models, and proposes a sister model based load forecast combination method to enhance the point forecasting accuracy. Using the data from the Global Energy Forecasting Competition 2014, we create a case study with 4 sister forecasts from 4 sister models. The result shows that the simple average of the 4 sister forecasts yields lower error than each individual forecast by 2% to 10%.

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Year of publication:	2015-02-05
Authors:	Liu, Bidong ; Liu, Jiali ; Hong, Tao
Institutions:	Hugo Steinhaus Center for Stochastic Methods, Politechnika Wrocławska
Subject:	Electric load forecasting \| Forecast combination \| Sister forecast

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Extent:	application/pdf
Series:	HSC Research Reports.
Type of publication:	Book / Working Paper
Notes:	Number HSC/15/02 4 pages
Classification:	C22 - Time-Series Models ; C32 - Time-Series Models ; C53 - Forecasting and Other Model Applications ; q47
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011161430