VERY SHORT-TERM LOAD FORECASTING USING EXPONENTIAL SMOOTHING AND ARIMA MODELS
Alexandra Kotillova
Abstract
Alexandra Kotillova
Abstract
Autoregressive integrated moving average (ARIMA) model and exponential smoothing are one of the most popular linear models in time series forecasting during the past three decades. This paper uses 30-minutes Australian electricity demand observations to evaluate methods for prediction 30 minutes ahead. For comparison was designed “industry ” model.
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Autoregressive integrated moving average (ARIMA) model and exponential smoothing are one of the most popular linear models in time series forecasting during the past three decades. This paper uses 30-minutes Australian electricity demand observations to evaluate methods for prediction 30 minutes ahead. For comparison was designed “industry ” model.
Key concepts: Exponential smoothing, Autoregressive integrated moving average, Autocorrelation, Term (time), Box–Jenkins, Moving average, Partial autocorrelation function, Time series