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An ensemble approach to GEFCom2017 probabilistic load forecasting

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Abstract We present an ensembling approach to medium-term probabilistic load forecasting which ranked second out of 73 competitors in the defined data track of the GEFCom2017 qualifying match. In addition… Click to show full abstract

Abstract We present an ensembling approach to medium-term probabilistic load forecasting which ranked second out of 73 competitors in the defined data track of the GEFCom2017 qualifying match. In addition to being accurate, the ensemble method is highly scalable, due to the fact that it had to be applied to nine quantiles in ten zones and for six rounds. Candidate forecasts were generated using random settings for input data, covariates, and learning algorithms. The best candidate forecasts were averaged to create the final forecast, with the number of candidate forecasts being chosen based on their accuracy in similar validation periods.

Keywords: gefcom2017; load forecasting; probabilistic load; approach; forecasting

Journal Title: International Journal of Forecasting
Year Published: 2019

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