Multiple Model Forecasting of Australian Regional Wholesale Electricity Prices

The expertise of electricity load forecasting has developed over decades. Some of the best load forecasting models use this expertise to improve the load forecasting accuracy by splitting the forecasting problem into sub-problems such as for weekend/weekday and peak/off peak. This research is designed to evaluate a method based on boosting algorithms to split the data into sub-problems for price forecasting and to combine the multiple models into one forecast. The boosting methods are then evaluated on Australian NSW region electricity price data.