Building Deep Neural Network Model for Short Term Electricity Consumption Forecasting

Electricity consumption forecasting has a main role in the energy supply management system of a power supply company. A power supply company needs to keep the balancing of the electricity demand and supply for their customers. The target is to forecast the electricity consumption in manufacturing company for each 30-minutes in the next day to prevent the lack of electricity supply from a power supply company. Due to this problem, it is the challenge for short term electricity time series consumption forecasting. In this work, we proposed the model of deep learning neural network with approach the combination of Long Short-Term Memory (LSTM) and Feed Forward Neural Network (FFNN) to perform the electricity forecasting. This proposed method (LSTM-FFNN) was implemented in the time-series data of electricity consumption on a manufacturing company. In our experiment, we used LSTM to perform the time-series forecasting by using historical data of electricity consumption, and we performed FFNN along with additional information which represented by one-hot encoding shape to increase the forecasting performance. Experimental results showed that LSTM-FFNN gave the better result as we compared with our baseline which is the original LSTM and Moving Average (MA) based on the Root Mean Squared Error (RMSE) score.