Optimization of Short Load Forecasting in Electricity Market of Iran Using Artificial Neural Networks

Accurate short-term load forecasting (STLF) is one of the essential requirements for power systems. In this paper, two different seasonal artificial neural networks (ANNs) are designed and compared in terms of model complexity, robustness, and forecasting accuracy. Furthermore, the performance of ANN partitioning is evaluated. The first model is a daily forecasting model which is used for forecasting hourly load of the next day. The second model is composed of 24 sub-networks which are used for forecasting hourly load of the next day. In fact, the second model is partitioning of the first model. Time, temperature, and historical loads are taken as inputs for ANN models. The neural network models are based on feed-forward back propagation which are trained and tested using data from electricity market of Iran during 2003 to 2005. Results show a good correlation between actual data and ANN outcomes. Moreover, it is shown that the first designed model consisting of single ANN is more appropriate than the second model consisting of 24 distinct ANNs. Finally ANN results are compared to conventional regression models. It is observed that in most cases ANN models are superior to regression models in terms of mean absolute percentage error (MAPE).