Prediction of day-ahead electricity price based on information fusion

Aiming at the characters of day-ahead electricity price, a novel information fusion method is proposed. A new neural network method ELM is selected for its better performance as the core algorithm of information fusion. Using the information fusion ideas, a new modeling approach is proposed to establish the prediction model. The day-ahead electricity price prediction model is tested by the real data. The experiments demonstrate that the new prediction model established by ELM information fusion method has better performance.