Abstract
Forecasting energy price and consumption is essential in making effective managerial decisions and plans. While there are many sophisticated mathematical methods developed so far to forecast, some nature-based intelligent algorithms with desired characteristics have been developed recently. The main ...
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Forecasting energy price and consumption is essential in making effective managerial decisions and plans. While there are many sophisticated mathematical methods developed so far to forecast, some nature-based intelligent algorithms with desired characteristics have been developed recently. The main objective of this research is short term forecasting of energy price and consumption in Iranian industrial sector using artificial intelligence including an Adaptive Neuro-Fuzzy Inference System (ANFIS) and an Artificial Neural Networks (ANN). The dataset contains monthly price and consumption of gas oil, petrol, and liquid petroleum gas in the period between March 1996 and March 2010. Based on dataset, energy price and consumption for 2011 and 2012 are forecasted. The results obtained utilizing the two methods show that while both are appropriate tools to forecast price and consumption, most of the time ANFIS has lower error than ANN in terms of the mean squared error criterion
