Short term load forecasting using wavelet transform combined with HoltWinters and weighted nearest neighbor models
A novel method involving Haar wavelet filter is proposed for load forecasting. Load series is decomposed into deterministic and fluctuation components. HoltWinters and weighted nearest neighbor methods model these subseries. The proposed methodology is tested on California and Spain energy markets. The results obtained are evaluated on MAPE, WMAPE and EVweek metrics.
load forecasting weighted nearest neighbor haar wavelet holt-winters hybrid model