2019
DOI: 10.3390/app9245269
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Prediction Interval Adjustment for Load-Forecasting using Machine Learning

Abstract: Electricity load-forecasting is an essential tool for effective power grid operation and energy markets. However, the lack of accuracy on the estimation of the electricity demand may cause an excessive or insufficient supply which can produce instabilities in the power grid or cause load cuts. Hence, probabilistic load-forecasting methods have become more relevant since these allow an understanding of not only load-point forecasts but also the uncertainty associated with it. In this paper, we develop a probabi… Show more

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Cited by 9 publications
(7 citation statements)
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“…The results showed that the ANN model outperformed traditional statistical models in predicting rice yield. However, the researcher concluded that further studies is required to improve the accuracy and interpretability of the model [75][76][77]. While ANNs have the potential to improve agriculture, there are limitations and drawbacks that need to be addressed for better results.…”
Section: Observationmentioning
confidence: 99%
“…The results showed that the ANN model outperformed traditional statistical models in predicting rice yield. However, the researcher concluded that further studies is required to improve the accuracy and interpretability of the model [75][76][77]. While ANNs have the potential to improve agriculture, there are limitations and drawbacks that need to be addressed for better results.…”
Section: Observationmentioning
confidence: 99%
“…This section describes the error metrics used to evaluate the performance of the models. In this work, two error metrics were used to score and compare forecast values to reference values [29,30].…”
Section: Error Metricsmentioning
confidence: 99%
“…Another metric that is introduced to measure the error of the constructed prediction intervals is the probabilistic RMSE (p-RMSE) [34]. This metric aims to quantify the error in cases the target values, i.e., the measured actual load, exceed the bounds of the prediction interval that is selected by the planner.…”
Section: Assessment Metrics Of Probabilistic Forecastsmentioning
confidence: 99%