Next Day Load Curve Forecasting Using Wavelet Analysis with Neural Network

In this article, we propose a new prediction scheme using wavelet analysis and a neural network for next day load curve forecasting. The multiresolution analysis (MRA) is one of the wavelet analyses that has been utilized in different applications. The MRA is able to decompose a signal into high and low frequency components, and is able to reconstruct the original signal from its decomposed components. The proposed scheme combines the superior characteristics of neural network and MRA, and can improve accuracy of the next day load forecasting.