Abstract
This paper presents a novel hybrid algorithm to forecast day-ahead prices in the electricity market. Seeking for more accurate price forecasting techniques, this hybrid price-forecasting algorithm works based on Mutual Information (MI), Discrete Wavelet Transform (DWT), Least Squares Support Vector Machine (LSSVM) optimized by a Interactive Artificial Bee Colony (IABC) technique. The numerical simulation results show that the proposed hybrid algorithm improves the accuracy of electricity price forecasting in Spanish electricity market in comparison to previously-known classical and intelligent methods.
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