Self-organizing maps
The LifeCycle Model: Combining Particle Swarm Optimisation, Genetic Algorithms and HillClimbers
PPSN VII Proceedings of the 7th International Conference on Parallel Problem Solving from Nature
Implementing support vector regression with differential evolution to forecast motherboard shipments
Expert Systems with Applications: An International Journal
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Hourly energy prices in a competitive electricity market are volatile. Forecast of energy price is key information to help producers and purchasers involved in electricity market to prepare their corresponding bidding strategies so as to maximize their profits. It is difficult to forecast all the hourly prices with only one model for different behaviors of different hourly prices. Neither will it get excellent results with 24 different models to forecast the 24 hourly prices respectively, for there are always not sufficient data to train the models, especially the peak price in summer. This paper proposes a novel technique to forecast day-ahead electricity prices based on Self-Organizing Map neural network (SOM) and Support Vector Machine (SVM) models. SOM is used to cluster the data automatically according to their similarity to resolve the problem of insufficient training data. SVM models for regression are built on the categories clustered by SOM separately. Parameters of the SVM models are chosen by Particle Swarm Optimization (PSO) algorithm automatically to avoid the arbitrary parameters decision of the tester, improving the forecasting accuracy. The comparison suggests that SOM-SVM-PSO has considerable value in forecasting day-ahead price in Pennsylvania-New Jersey-Maryland (PJM) market, especially for summer peak prices.