Multi-variable Echo State Network Optimized by Bayesian Regulation for Daily Peak Load Forecasting

Abstract

In this paper, a multi-variable echo state network trained with Bayesian regulation has been developed for the short-time load forecasting. In this study, we focus on the generalization of a new recurrent network. Therefore, Bayesian regulation and Levenberg-Marquardt algorithm is adopted to modify the output weight. The model is verified by data from a local power company in south China and its performance is rather satisfactory. Besides, traditional methods are also used for the same task as comparison. The simulation results lead to the conclusion that the proposed scheme is feasible and has great robustness and satisfactory capacity of generalization.