An Improved Combined Model for the Electricity Demand Forecasting

Abstract

In this paper, we propose an improved combined forecasting model integrates the merits of data pretreatment, combined model and Markov chain, known as Markov combined model. The moving average is used for the data pretreatment or determination of trend, combined model is designed for the trend forecasting, and the Markov chain is employed for modifying the forecasting results of combined model. The forecasting results of electricity demand provide valuable information for the supply chain management. Therefore, we apply the Markov combined model to forecast the electricity demand. The forecasting results testify that the proposed combined forecasting technique is an effective method.