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• W1542877467 abstract "This paper uses half-hourly electricity demand data in South Australia as an empirical study of nonparametric modeling and forecasting methods for prediction from half-hour ahead to one year ahead. A notable feature of the univariate time series of electricity demand is the presence of both intraweek and intraday seasonalities. An intraday seasonal cycle is apparent from the similarity of the demand from one day to the next, and an intraweek seasonal cycle is evident from comparing the demand on the corresponding day of adjacent weeks. There is a strong appeal in using forecasting methods that are able to capture both seasonalities. In this paper, the forecasting methods slice a seasonal univariate time series into a time series of curves. The forecasting methods reduce the dimensionality by applying functional principal component analysis to the observed data, and then utilize an univariate time series forecasting method and functional principal component regression techniques. When data points in the most recent curve are sequentially observed, updating methods can improve the point and interval forecast accuracy. We also revisit a nonparametric approach to construct prediction intervals of updated forecasts, and evaluate the interval forecast accuracy." @default.
• W1542877467 created "2016-06-24" @default.
• W1542877467 creator A5087947210 @default.
• W1542877467 date "2010-10-18" @default.
• W1542877467 modified "2023-09-27" @default.
• W1542877467 title "Nonparametric modeling and forecasting electricity demand: an empirical study" @default.
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• W1542877467 hasPublicationYear "2010" @default.
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