Open AccessForecasting the load of electrical power systems in mid‐ and long‐term horizons: a review
Author(s) -
Khuntia Swasti R.,
Rueda José L.,
Meijden Mart A.M.M.
Publication year - 2016
Publication title -
iet generation, transmission and distribution
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.92
H-Index - 110
eISSN - 1751-8695
pISSN - 1751-8687
DOI - 10.1049/iet-gtd.2016.0340
Subject(s) - term (time) , electric power system , electrical load , computer science , demand forecasting , work (physics) , electric power , operations research , transmission (telecommunications) , power (physics) , industrial engineering , econometrics , economics , engineering , telecommunications , electrical engineering , voltage , physics , quantum mechanics , mechanical engineering
Load forecasting has always been an important part in the planning and operation of electric utilities, i.e. both transmission and distribution companies. With technological advancement, change in economic condition and many other factors (to be discussed in this work), load forecasting is becoming more important. The forecast affects as well as gets affected because of the load impacting factors and actions taken in different time horizons. However, due to its stochastic and uncertainty characteristics, it has been one challenging problem for electrical utilities to accurately forecast future load demand. This study aims at reviewing the different load forecasting techniques developed for the mid‐ and long‐term horizons of electrical power systems. Since there has never been an explicit literature study of the various forecasting techniques for mid‐ and long‐term horizons, this study reviews techniques for each of the forecasting horizons, citing various methodologies developed so far supported by published literature. This study is concluded with discussion on future research directions.