Towards Electricity Price and Electric Load Forecasting Using Multi-task Deep Learning

Abstract The continuous development of the power Internet of Things (IOT) has enabled power market participants to obtain a large amount of data. Simultaneously, the power IOT has an increasing demand for power load and electricity price forecasting; Since the forecasting of electricity load and electricity price is a single task, and the model calculation accuracy is not high, this brings great challenges to the accurate forecasting of electricity load and electricity price. In this paper, two power load and electricity price forecasting models via multi-task deep learning are established perform high-precision joint forecasting of power load and electricity price Experimental results demonstrate that the prediction results of the proposed deep learning models are superior to the other compared approaches in terms of the main task and the auxiliary task, and show superior prediction performance, verifying the practicability and superiority of the power load and electricity price multi-task forecasting model.