The technology of wind speed prediction is important to guarantee the safety of wind power utilization. Compared to the single algorithms, the hybrid ones always have better performance in the wind speed predictions. In this paper, three most important decomposing algorithms [Wavelet Decomposition WD/Wavelet Packet Decomposition - WPD/Empirical Mode Decomposition - EMD] and a latest decomposing algorithm [Fast Ensemble Empirical Mode Decomposition - FEEMD] are all adopted to realize the wind speed high-precision predictions with two representative networks [MLP Neural Network/ANFIS Neural Network]. Based on the hybrid forecasting framework, two new wind speed forecasting methods [FEEMD-MLP and FEEMD-ANFIS] are proposed. Additionally, a series of performance comparison is provided, which includes EMD-MLP, FEEMD-MLP, EDM-ANFIS, FEEMD-ANFIS, WD-MLP, WD-ANFIS, WPD-MLP and WPD-ANFIS. The aim of the study is to investigate the decomposing and forecasting performance of the different hybrid models. Two experimental results show that: (1) Due to the inclusion of the decomposing algorithms, the hybrid ANN algorithms have better performance than their corresponding single ANN algorithms; (2) the proposed new FEEMD-MLP hybrid model has the best performance in the three-step predictions while the WPD-MLP hybrid model has the best performance in the one-step predictions; (3) among the decomposing algorithms, the FEEMD and WPD have better performance than the EMD and WD, respectively; (4) in the forecasting neural networks, the MLP has better performance than the ANFIS; and (5) all of the proposed hybrid algorithms are suitable for the wind speed predictions. (C) 2014 Elsevier Ltd. All rights reserved.