IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v13y2020i24p6649-d463185.html
   My bibliography  Save this article

Predicting the Amount of Electric Power Transaction Using Deep Learning Methods

Author

Listed:
  • Gwiman Bak

    (Department of Electrical and Semiconductor, Chonnam National University, Yeosu 59626, Korea)

  • Youngchul Bae

    (Division of Electrical, Electronic Communication and Computer Engineering, Chonnam National University, Yeosu 59626, Korea)

Abstract

The most important thing to operate a power system is that the power supply should be close to the power demand. In order to predict the amount of electric power transaction (EPT), it is important to choose and decide the variable and its starting date. In this paper, variables that could be acquired one the starting day of prediction were chosen. This paper designated date, temperature and special day as variables to predict the amount of EPT of the Korea Electric Power company. This paper also used temperature data from a year ago to predict the next year. To do this, we proposed single deep learning algorithms and hybrid deep learning algorithms. The former included multi-layer perceptron (MLP), convolution neural network (CNN), long short-term memory (LSTM), gated recurrent unit (GRU), support vector machine regression (SVR), and adaptive network-based fuzzy inference system (ANFIS). The latter included LSTM + CNN and CNN + LSTM. We then confirmed the improvement of accuracy for prediction using pre-processed variables compared to original variables We also assigned two years of test data during 2017–2018 as variable data to measure high prediction accuracy. We then selected a high-accuracy algorithm after measuring root mean square error (RMSE) and mean absolute percent error (MAPE). Finally, we predicted the amount of EPT in 2018 and then measured the error for each proposed algorithm. With these acquired error data, we obtained a model for predicting the amount of EPT with a high accuracy.

Suggested Citation

  • Gwiman Bak & Youngchul Bae, 2020. "Predicting the Amount of Electric Power Transaction Using Deep Learning Methods," Energies, MDPI, vol. 13(24), pages 1-30, December.
    • Handle: RePEc:gam:jeners:v:13:y:2020:i:24:p:6649-:d:463185
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/13/24/6649/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/13/24/6649/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Alejandro J. del Real & Fernando Dorado & Jaime Durán, 2020. "Energy Demand Forecasting Using Deep Learning: Applications for the French Grid," Energies, MDPI, vol. 13(9), pages 1-15, May.
    2. Mamlook, Rustum & Badran, Omar & Abdulhadi, Emad, 2009. "A fuzzy inference model for short-term load forecasting," Energy Policy, Elsevier, vol. 37(4), pages 1239-1248, April.
    3. Zang, Haixiang & Liu, Ling & Sun, Li & Cheng, Lilin & Wei, Zhinong & Sun, Guoqiang, 2020. "Short-term global horizontal irradiance forecasting based on a hybrid CNN-LSTM model with spatiotemporal correlations," Renewable Energy, Elsevier, vol. 160(C), pages 26-41.
    4. Taewook Kim & Ha Young Kim, 2019. "Forecasting stock prices with a feature fusion LSTM-CNN model using different representations of the same data," PLOS ONE, Public Library of Science, vol. 14(2), pages 1-23, February.
    5. Myoungsoo Kim & Wonik Choi & Youngjun Jeon & Ling Liu, 2019. "A Hybrid Neural Network Model for Power Demand Forecasting," Energies, MDPI, vol. 12(5), pages 1-17, March.
    6. Minglu Ma & Zhuangzhuang Wang, 2019. "Prediction of the Energy Consumption Variation Trend in South Africa based on ARIMA, NGM and NGM-ARIMA Models," Energies, MDPI, vol. 13(1), pages 1-15, December.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Tadeusz A. Grzeszczyk & Michal K. Grzeszczyk, 2022. "Justifying Short-Term Load Forecasts Obtained with the Use of Neural Models," Energies, MDPI, vol. 15(5), pages 1-20, March.
    2. Tiago Pinto, 2023. "Artificial Intelligence as a Booster of Future Power Systems," Energies, MDPI, vol. 16(5), pages 1-4, February.
    3. Miguel A. Jaramillo-Morán & Daniel Fernández-Martínez & Agustín García-García & Diego Carmona-Fernández, 2021. "Improving Artificial Intelligence Forecasting Models Performance with Data Preprocessing: European Union Allowance Prices Case Study," Energies, MDPI, vol. 14(23), pages 1-23, November.
    4. Qianqiao Shen & Guiyong Wang & Yuhua Wang & Boshun Zeng & Xuan Yu & Shuchao He, 2023. "Prediction Model for Transient NOx Emission of Diesel Engine Based on CNN-LSTM Network," Energies, MDPI, vol. 16(14), pages 1-21, July.
    5. Adnan Yousaf & Rao Muhammad Asif & Mustafa Shakir & Ateeq Ur Rehman & Mohmmed S. Adrees, 2021. "An Improved Residential Electricity Load Forecasting Using a Machine-Learning-Based Feature Selection Approach and a Proposed Integration Strategy," Sustainability, MDPI, vol. 13(11), pages 1-20, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gholami, M. & Barbaresi, A. & Torreggiani, D. & Tassinari, P., 2020. "Upscaling of spatial energy planning, phases, methods, and techniques: A systematic review through meta-analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 132(C).
    2. Yang, Yang & Xue, Dingyü, 2016. "Continuous fractional-order grey model and electricity prediction research based on the observation error feedback," Energy, Elsevier, vol. 115(P1), pages 722-733.
    3. Barman, Mayur & Dev Choudhury, N.B. & Sutradhar, Suman, 2018. "A regional hybrid GOA-SVM model based on similar day approach for short-term load forecasting in Assam, India," Energy, Elsevier, vol. 145(C), pages 710-720.
    4. Hongchao Zhang & Tengteng Zhu, 2022. "Stacking Model for Photovoltaic-Power-Generation Prediction," Sustainability, MDPI, vol. 14(9), pages 1-16, May.
    5. Chabouni, Naima & Belarbi, Yacine & Benhassine, Wassim, 2020. "Electricity load dynamics, temperature and seasonality Nexus in Algeria," Energy, Elsevier, vol. 200(C).
    6. Ajith, Meenu & Martínez-Ramón, Manel, 2023. "Deep learning algorithms for very short term solar irradiance forecasting: A survey," Renewable and Sustainable Energy Reviews, Elsevier, vol. 182(C).
    7. Tashreef Muhammad & Tahsin Aziz & Mohammad Shafiul Alam, 2023. "Utilizing Technical Data to Discover Similar Companies in Dhaka Stock Exchange," Papers 2301.04455, arXiv.org.
    8. Szoplik, Jolanta, 2015. "Forecasting of natural gas consumption with artificial neural networks," Energy, Elsevier, vol. 85(C), pages 208-220.
    9. Vu, Ba Hau & Chung, Il-Yop, 2022. "Optimal generation scheduling and operating reserve management for PV generation using RNN-based forecasting models for stand-alone microgrids," Renewable Energy, Elsevier, vol. 195(C), pages 1137-1154.
    10. Lu, Renzhi & Bai, Ruichang & Ding, Yuemin & Wei, Min & Jiang, Junhui & Sun, Mingyang & Xiao, Feng & Zhang, Hai-Tao, 2021. "A hybrid deep learning-based online energy management scheme for industrial microgrid," Applied Energy, Elsevier, vol. 304(C).
    11. Ngoc-Lan Huynh, Anh & Deo, Ravinesh C. & Ali, Mumtaz & Abdulla, Shahab & Raj, Nawin, 2021. "Novel short-term solar radiation hybrid model: Long short-term memory network integrated with robust local mean decomposition," Applied Energy, Elsevier, vol. 298(C).
    12. Akash Doshi & Alexander Issa & Puneet Sachdeva & Sina Rafati & Somnath Rakshit, 2020. "Deep Stock Predictions," Papers 2006.04992, arXiv.org.
    13. Qiangqiang Cheng & Yiqi Yan & Shichao Liu & Chunsheng Yang & Hicham Chaoui & Mohamad Alzayed, 2020. "Particle Filter-Based Electricity Load Prediction for Grid-Connected Microgrid Day-Ahead Scheduling," Energies, MDPI, vol. 13(24), pages 1-15, December.
    14. Andrew Brim & Nicholas S Flann, 2022. "Deep reinforcement learning stock market trading, utilizing a CNN with candlestick images," PLOS ONE, Public Library of Science, vol. 17(2), pages 1-25, February.
    15. Ma, Weiwu & Fang, Song & Liu, Gang & Zhou, Ruoyu, 2017. "Modeling of district load forecasting for distributed energy system," Applied Energy, Elsevier, vol. 204(C), pages 181-205.
    16. Deihimi, Ali & Showkati, Hemen, 2012. "Application of echo state networks in short-term electric load forecasting," Energy, Elsevier, vol. 39(1), pages 327-340.
    17. Duan, Jikai & Zuo, Hongchao & Bai, Yulong & Chang, Mingheng & Chen, Xiangyue & Wang, Wenpeng & Ma, Lei & Chen, Bolong, 2023. "A multistep short-term solar radiation forecasting model using fully convolutional neural networks and chaotic aquila optimization combining WRF-Solar model results," Energy, Elsevier, vol. 271(C).
    18. Huang, Wenyang & Wang, Huiwen & Qin, Haotong & Wei, Yigang & Chevallier, Julien, 2022. "Convolutional neural network forecasting of European Union allowances futures using a novel unconstrained transformation method," Energy Economics, Elsevier, vol. 110(C).
    19. Sun-Bin Kim & Vattanak Sok & Sang-Hee Kang & Nam-Ho Lee & Soon-Ryul Nam, 2019. "A Study on Deep Neural Network-Based DC Offset Removal for Phase Estimation in Power Systems," Energies, MDPI, vol. 12(9), pages 1-19, April.
    20. Martins, Guilherme Santos & Giesbrecht, Mateus, 2021. "Clearness index forecasting: A comparative study between a stochastic realization method and a machine learning algorithm," Renewable Energy, Elsevier, vol. 180(C), pages 787-805.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:13:y:2020:i:24:p:6649-:d:463185. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.