A Novel Approach towards Electrical Load Forecasting Conditions
Keywords:
Electricity; Utility; Short Term Load; Regression Methods; Genetic AlgorithmsAbstract
This paper presents a study on load forecasting which is very important for energy supplying companies and all the other
players of electric energy generation, transmission and distribution who are commonly known as the Utility companies. Load
forecasting is extremely important as electricity cannot be stored and has to be used instantaneously. The Load forecasting can
be broadly classified into three different sections: short-term load forecasting ranging from one hour to one week, medium
term load forecasts that range from a week to a year, and long-term load forecasting which is done for a duration longer than
a year. Various algorithms are classified under these three sections based on their applicability and suitability.