
Balkan region.
We showed that due to the high complexity of the hourly
data and multiple seasonalities it was easy as a start of our
analysis to work with daily data. We performed many
statistical and machine learning models which are capable of
handling seasonality in time series. In our work we took into
consideration a decomposition method which would give
better performance of the modeling process. The models were
evaluated on error metrics and comparative view of in sample
and out of sample dataset. NNAR architecture was able to
outperform the statistical techniques for in sample data in
terms of all error metrics used at the performance evaluation
phase but STL decomposition with ARIMA error was the best
model when evaluated to the testing data. The proposed
models can be used as a short term or medium term prediction
models for energy load. Other exogenous variables can give a
better effect to the models.
ACKNOWLEDGMENT
The authors want to thank Faculty of Natural Science,
University of Tirana, Albania which has financially supported
the presentation of this work at the conference.
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