Emotion-Driven Energy Load Forecasting: An Ensemble Leveraging Insights from News

Abstract

In modern times, system energy load forecasting is an extremely important process in a variety of contexts. Moreover, energy load time series fluctuations are influenced by a wide range of factors, ranging, inter alia, from environmental conditions, natural events, and demographics to both regional and global geopolitical contexts, economic conditions, energy sources, policies, and regulations. Given these, this paper examines the integration of news information from the global scene into Greek energy load forecasting schemes through the use of sentiment analysis. Investigating the ways the general emotional footprint of news worldwide affects and can be used in an energy modeling context, we benchmark possible ensemble configurations incorporating a multitude of 31 emotion polarities. Building on our previous work, an ensemble method that exploits specific outputs from a multi-label sentiment classifier and a sentiment analysis procedure under a multivariate forecasting scheme is presented. It is shown, through an empirical evaluation of the results, that the integration of emotion representations related to non-Greek news concerning global current affairs improves the predictions.