RNN(p) for power consumption forecasting

Read full text
Authors: Roberto Baviera, Pietro Manzoni
Cited by: 0

Abstract

Abstract An elementary Recurrent Neural Network that operates on p time lags, called an RNN( p ), is the natural generalisation of a linear autoregressive model ARX( p ). It is a powerful forecasting tool for variables displaying inherent seasonal patterns across multiple time scales, as is often observed in energy, economic, and financial time series. The architecture of RNN( p ) models, characterised by structured feedbacks across time lags, enables the design of efficient training strategies. We conduct a comparative study of learning algorithms for these models, providing a rigorous analysis of their computational complexity and training performance. We present two applications of RNN( p ) models in power consumption forecasting, a key domain within the energy sector where accurate forecasts inform both operational and financial decisions. Experimental results show that RNN( p ) models achieve excellent forecasting accuracy while maintaining a high degree of interpretability. These features make them well-suited for decision-making in energy markets and other fintech applications where reliable predictions play a significant economic role.

Fields of Study & Subjects

Energy Load and Power Forecasting Stock Market Forecasting Methods Forecasting Techniques and Applications

Publication details

Journal / source
Decisions in Economics and Finance
Publication date
20 August 2026
Language
EN