Load Forecasting

What Is Load Forecasting?

Power companies rely on accurate electricity load forecasting to minimize financial risk and optimize operational efficiency and reliability.

Critical load forecasting tasks include:

  • Automating data access from regional wholesale electricity markets
  • Customizing models using nonlinear regression, nonparametric, and neural network techniques
  • Calibrating models with historical predictors such as weather, seasonality, load, fuel price, and power price
  • Deploying and integrating load forecasting algorithms into enterprise systems

For details on performing these tasks in a single modeling environment, see MATLAB®.

See also: energy production, algorithm development, desktop and web deployment, machine learning