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In this paper, three individual indices, as well as a new comprehensive index, are introduced to evaluate prediction intervals. Then, two practical methods, namely, Interval Extension Method and Optimal Scalar Method are proposed to build the prediction intervals based on an ensemble of Extreme Learning Machines. Case studies on hour-ahead load interval forecasting with respect to Chicago Metro Area...
The future power grid will need to incorporate systems and processes with a higher degree of variability and randomness due to the penetration of renewable energy resources and the increase of energy demand. Forecasting variables in a more uncertain environment poses new challenges and revisions of the existing forecasting methodologies will have to be made to maintain forecasting accuracy. This paper...
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