Electricity price forecasting has become the focus of considerable interest in a deregulated energy market. In this study, regression tree‐based models: classification and regression trees, Bagging and Random Forests have been built and used to identify the variables dominating the marginal price of the commodity as well as for short‐term (one hour and day ahead) electricity price forecasting for the Spanish–Iberian market. Different prediction models are proposed including the main features of the market such as load, hydro and thermal generation and from available, wind energy production, of strategic interest in the Spanish market. In addition other explanatory variables are considered as lagged prices, as well as hour, day, month and year indicators. In the study, hourly data from 2000–2011 corresponding to 22 variables have been used. The results show the effectiveness of the proposed ensemble of tree‐based models which emerge as an alternative and promising tool, competitive with other existing methods.

The study of road accidents and the adoption of measures to reduce them is one of the most important targets of the Sustainable Development Goals for 2030. To further progress in the improvement of road safety, it is necessary to focus studies on specific groups, such as light trucks and vans. Since 2013 in Spain, there has been an upturn in accidents in these two categories of vehicles and a renewed interest to deepen our understanding of the causes that encourage this behavior. This paper focuses on using machine learning methods to explain driver-injury severity in run-off-roadway and rollover types of accidents. A Random Forest (RF)-classification tree (CART) approach is used to select the relevant categorical variables (driver, vehicle, infrastructure, and environmental factors) to obtain models that classify, explain, and predict the severity of such accidents with good accuracy. A support vector machine and binomial logit models were applied in order to contrast the variable importance ranking and the performance analysis, and the results are convergent with the RF+CART approach (more than 70% accuracy). The resulting models highlight the importance of using safety belts, as well as psychophysical conditions (alcohol, drugs, or sleep deprivation) and injury localization for the two accident types.

Dynamic Trees are a tree-based machine learning technique specially designed for online environments where data are to be analyzed sequentially as they arrive. Our purpose is to test this methodology for the very first time for Electricity Price Forecasting (EPF) by using data from the Iberian market. For benchmarking the results, we will compare them against another tree-based technique, Random Forest, a widely used method that has proven its good results in many fields. The benchmark includes several versions of the Dynamic Trees approach for a very short term EPF (one-hour ahead) and also a short term (one-day ahead) approach but only with the best versions. The numerical results show that Dynamic Trees are an adequate method, both for very short and short term EPF—even improving upon the performance of the Random Forest method. The comparison with other studies for the Iberian market suggests that Dynamic Trees is a proper and promising method for EPF.

Predicting electricity prices is a very important issue in modern society, because the associated decision process under uncertainty requires accurate forecasts for the economic agents involved. In this paper, we apply the decision tree extension of Random Forests to the prediction of electricity prices in Spain, but with the novelty of modeling prices jointly with demand, with the purpose of achieving greater accuracy than with univariate response Random Forests, particularly in price prediction, as well as understanding the effect of the input variables (lagged values of price and demand, current production levels of available energy sources) on the joint of the two outputs. The results are very encouraging, providing significant increase in price prediction accuracy. Also, interesting methodological challenges appear as far as the appropriate choice of the relative weights of price and demand in the joint modeling is concerned and a new procedure to provide the importance variable ranking is proposed. The partykit (package of R software) library allowing for multivariate Random Forests has been used.