Short-Term Electricity Price Forecasting Using EEMD and GRU-NN

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  • Khalid Rashid Chughatta University of Engineering and Technology Taxila
  • Shaikh Saaqib Haroon University of Engineering and Technology Taxila



Machine Learning, GRU-NN, Short-Term Electricity Price Forecasting, EEMD, Feature Selection


A vital necessity for the reliable operation of the power system as well as for the financial well-being of the consumers is an accurate forecast of the price of electricity. The price of electricity is highly volatile, nonlinear, and subject to seasonal fluctuations. The price series is also affected by electrical market uncertainty and demand, which is strongly reliant on weather and electricity usage time. This study presents a short-term electricity price forecasting method that follows the similar days approach comprising Ensemble Empirical Mode Decomposition technique. The suggested method utilizes a feature selection methodology that combines the Random Forest Regressor and the Gradient Boosting Regressor to determine which features are most important for the machine learning model. To forecast the electricity price, a Gated Recurrent Unit Neural Network (GRU-NN) is employed as the machine learning model. The GRU-NN has the capability of accurately capturing complicated temporal relationships in electricity price time series, which enables it to make correct predictions. To evaluate the validity of the proposed method, data from the PJM electricity market have been used. The simulation results demonstrate that the suggested method is superior to the existing technique, with significantly improved values achieved for both the mean absolute percentage error (MAPE) and the root mean square error (RMSE). 

Author Biographies

Khalid Rashid Chughatta , University of Engineering and Technology Taxila

Department of Electrical Engineering, Pakistan

Shaikh Saaqib Haroon , University of Engineering and Technology Taxila

Department of Electrical Engineering, Pakistan


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How to Cite

Chughatta , K. R., & Haroon , S. S. (2023). Short-Term Electricity Price Forecasting Using EEMD and GRU-NN. International Journal of Advanced Natural Sciences and Engineering Researches, 7(4), 420–427.