scholarly journals Assessing and Comparing Short Term Load Forecasting Performance

Energies ◽  
2020 ◽  
Vol 13 (8) ◽  
pp. 2054 ◽  
Author(s):  
Pekka Koponen ◽  
Jussi Ikäheimo ◽  
Juha Koskela ◽  
Christina Brester ◽  
Harri Niska
Keyword(s):  
Electricity Market ◽  
Load Forecasting ◽  
Performance Criteria ◽  
Short Term ◽  
Comparison Results ◽  
Forecasting Performance ◽  
Network Costs ◽  
And Performance ◽  
Short Term Forecasting ◽  
Forecasting Errors

When identifying and comparing forecasting models, there may be a risk that poorly selected criteria could lead to wrong conclusions. Thus, it is important to know how sensitive the results are to the selection of criteria. This contribution aims to study the sensitivity of the identification and comparison results to the choice of criteria. It compares typically applied criteria for tuning and performance assessment of load forecasting methods with estimated costs caused by the forecasting errors. The focus is on short-term forecasting of the loads of energy systems. The estimated costs comprise electricity market costs and network costs. We estimate the electricity market costs by assuming that the forecasting errors cause balancing errors and consequently balancing costs to the market actors. The forecasting errors cause network costs by overloading network components thus increasing losses and reducing the component lifetime or alternatively increase operational margins to avoid those overloads. The lifetime loss of insulators, and thus also the components, is caused by heating according to the law of Arrhenius. We also study consumer costs. The results support the assumption that there is a need to develop and use additional and case-specific performance criteria for electricity load forecasting.

scholarly journals Short-Term Electric Load Forecasting Using Standardized Load Profile (SLP) And Support Vector Regression (SVR)

2019 ◽  
Vol 9 (4) ◽  
pp. 4548-4553
Author(s):  
N. T. Dung ◽  
N. T. Phuong
Keyword(s):  
Machine Learning ◽  
Electricity Market ◽  
Business Strategy ◽  
Learning Algorithm ◽  
Load Forecasting ◽  
Support Vector ◽  
Forecast Errors ◽  
Short Term ◽  
Load Profile ◽  
Short Term Forecasting

Short-term load forecasting (STLF) plays an important role in business strategy building, ensuring reliability and safe operation for any electrical system. There are many different methods used for short-term forecasts including regression models, time series, neural networks, expert systems, fuzzy logic, machine learning, and statistical algorithms. The practical requirement is to minimize forecast errors, avoid wastages, prevent shortages, and limit risks in the electricity market. This paper proposes a method of STLF by constructing a standardized load profile (SLP) based on the past electrical load data, utilizing Support Regression Vector (SVR) machine learning algorithm to improve the accuracy of short-term forecasting algorithms.

Efficiency of Using Artificial Neural Network for Short-Term Load Forecasting

2015 ◽  
Vol 792 ◽  
pp. 312-316 ◽  
Author(s):  
Svetlana Rodygina ◽  
Valentina Lyubchenko ◽  
Alexander Rodygin
Keyword(s):  
Neural Network ◽  
Electricity Market ◽  
Load Forecasting ◽  
Operating Conditions ◽  
Short Term ◽  
The Neural Network ◽  
Short Term Load Forecasting ◽  
Neural Network Algorithm ◽  
Artificial Neural ◽  
Short Term Forecasting

Using artificial neural networks (ANN) for short-term load forecasting is an efficient method to get the best result. Considered problem of short-term load forecasting shows that the accuracy of short-term forecasting models and methods significantly influences on the further planning of operating conditions at the modern electricity market. The obtained error for short-term load forecasting using the neural network algorithm is 2.78%.

scholarly journals A New Empirical Model for Short-Term Forecasting of the Broadband Penetration: A Short Research in Greece

2011 ◽  
Vol 2011 ◽  
pp. 1-10 ◽  
Author(s):  
Salpasaranis Konstantinos ◽  
Stylianakis Vasilios
Keyword(s):  
Performance Analysis ◽  
Empirical Model ◽  
Deterministic Model ◽  
Short Term ◽  
Short Term Forecast ◽  
Term Forecast ◽  
Forecasting Performance ◽  
And Performance ◽  
Short Term Forecasting ◽  
Official Data

The objective of this paper is to present a short research about the overall broadband penetration in Greece. In this research, a new empirical deterministic model is proposed for the short-term forecast of the cumulative broadband adoption. The fitting performance of the model is compared with some widely used diffusion models for the cumulative adoption of new telecommunication products, namely, Logistic, Gompertz, Flexible Logistic (FLOG), Box-Cox, Richards, and Bass models. The fitting process is done with broadband penetration official data for Greece. In conclusion, comparing these models with the empirical model, it could be argued that the latter yields well enough statistics indicators for fitting and forecasting performance. It also stresses the need for further research and performance analysis of the model in other more mature broadband markets.

scholarly journals Short-Term Forecasting of Electricity Supply and Demand by Using the Wavelet-PSO-NNs-SO Technique for Searching in Big Data of Iran’s Electricity Market

Data ◽  
2018 ◽  
Vol 3 (4) ◽  
pp. 43 ◽  
Author(s):  
Mesbaholdin Salami ◽  
Farzad Movahedi Sobhani ◽  
Mohammad Ghazizadeh
Keyword(s):  
Neural Networks ◽  
Electricity Market ◽  
Simulation Optimization ◽  
Supply And Demand ◽  
Electricity Supply ◽  
Wavelet Neural Networks ◽  
Short Term ◽  
Swarm Optimization ◽  
Forecasting Accuracy ◽  
Short Term Forecasting

The databases of Iran’s electricity market have been storing large sizes of data. Retail buyers and retailers will operate in Iran’s electricity market in the foreseeable future when smart grids are implemented thoroughly across Iran. As a result, there will be very much larger data of the electricity market in the future than ever before. If certain methods are devised to perform quick search in such large sizes of stored data, it will be possible to improve the forecasting accuracy of important variables in Iran’s electricity market. In this paper, available methods were employed to develop a new technique of Wavelet-Neural Networks-Particle Swarm Optimization-Simulation-Optimization (WT-NNPSO-SO) with the purpose of searching in Big Data stored in the electricity market and improving the accuracy of short-term forecasting of electricity supply and demand. The electricity market data exploration approach was based on the simulation-optimization algorithms. It was combined with the Wavelet-Neural Networks-Particle Swarm Optimization (Wavelet-NNPSO) method to improve the forecasting accuracy with the assumption Length of Training Data (LOTD) increased. In comparison with previous techniques, the runtime of the proposed technique was improved in larger sizes of data due to the use of metaheuristic algorithms. The findings were dealt with in the Results section.

scholarly journals Hybrid Empirical Mode Decomposition with Support Vector Regression Model for Short Term Load Forecasting

Energies ◽  
2019 ◽  
Vol 12 (6) ◽  
pp. 1093 ◽  
Author(s):  
Wei-Chiang Hong ◽  
Guo-Feng Fan
Keyword(s):  
Support Vector Regression ◽  
Load Forecasting ◽  
Support Vector ◽  
Electric Load ◽  
Short Term ◽  
Middle Term ◽  
Mode Decomposition ◽  
Random Term ◽  
Forecasting Performance ◽  
Short Term Load Forecasting

For operational management of power plants, it is desirable to possess more precise short-term load forecasting results to guarantee the power supply and load dispatch. The empirical mode decomposition (EMD) method and the particle swarm optimization (PSO) algorithm have been successfully hybridized with the support vector regression (SVR) to produce satisfactory forecasting performance in previous studies. Decomposed intrinsic mode functions (IMFs), could be further defined as three items: item A contains the random term and the middle term; item B contains the middle term and the trend (residual) term, and item C contains the middle terms only, where the random term represents the high-frequency part of the electric load data, the middle term represents the multiple-frequency part, and the trend term represents the low-frequency part. These three items would be modeled separately by the SVR-PSO model, and the final forecasting results could be calculated as A+B-C (the defined item D). Consequently, this paper proposes a novel electric load forecasting model, namely H-EMD-SVR-PSO model, by hybridizing these three defined items to improve the forecasting accuracy. Based on electric load data from the Australian electricity market, the experimental results demonstrate that the proposed H-EMD-SVR-PSO model receives more satisfied forecasting performance than other compared models.

scholarly journals A Hybrid Short-Term Power Load Forecasting Model Based on the Singular Spectrum Analysis and Autoregressive Model

2014 ◽  
Vol 2014 ◽  
pp. 1-7 ◽  
Author(s):  
Hongze Li ◽  
Liuyang Cui ◽  
Sen Guo
Keyword(s):  
Spectrum Analysis ◽  
Electricity Market ◽  
Autoregressive Model ◽  
Singular Spectrum Analysis ◽  
Load Forecasting ◽  
Ar Model ◽  
Short Term ◽  
Singular Spectrum ◽  
Power Load ◽  
Power Load Forecasting

Short-term power load forecasting is one of the most important issues in the economic and reliable operation of electricity power system. Taking the characteristics of randomness, tendency, and periodicity of short-term power load into account, a new method (SSA-AR model) which combines the univariate singular spectrum analysis and autoregressive model is proposed. Firstly, the singular spectrum analysis (SSA) is employed to decompose and reconstruct the original power load series. Secondly, the autoregressive (AR) model is used to forecast based on the reconstructed power load series. The employed data is the hourly power load series of the Mid-Atlantic region in PJM electricity market. Empirical analysis result shows that, compared with the single autoregressive model (AR), SSA-based linear recurrent method (SSA-LRF), and BPNN (backpropagation neural network) model, the proposed SSA-AR method has a better performance in terms of short-term power load forecasting.

scholarly journals Residential Short-Term Load Forecasting during Atypical Consumption Behavior

Energies ◽  
2022 ◽  
Vol 15 (1) ◽  
pp. 291
Author(s):  
Cristina Hora ◽  
Florin Ciprian Dan ◽  
Gabriel Bendea ◽  
Calin Secui
Keyword(s):  
Rural Areas ◽  
Moving Average ◽  
Load Forecasting ◽  
Short Term ◽  
Consumption Behavior ◽  
Best Response ◽  
Power Load ◽  
Short Term Load Forecasting ◽  
Residential Consumption ◽  
Forecasting Errors

Short-term load forecasting (STLF) is a fundamental tool for power networks’ proper functionality. As large consumers need to provide their own STLF, the residential consumers are the ones that need to be monitored and forecasted by the power network. There is a huge bibliography on all types of residential load forecast in which researchers have struggled to reach smaller forecasting errors. Regarding atypical consumption, we could see few titles before the coronavirus pandemic (COVID-19) restrictions, and afterwards all titles referred to the case of COVID-19. The purpose of this study was to identify, among the most used STLF methods—linear regression (LR), autoregressive integrated moving average (ARIMA) and artificial neural network (ANN)—the one that had the best response in atypical consumption behavior and to state the best action to be taken during atypical consumption behavior on the residential side. The original contribution of this paper regards the forecasting of loads that do not have reference historic data. As the most recent available scenario, we evaluated our forecast with respect to the database of consumption behavior altered by different COVID-19 pandemic restrictions and the cause and effect of the factors influencing residential consumption, both in urban and rural areas. To estimate and validate the results of the forecasts, multiyear hourly residential consumption databases were used. The main findings were related to the huge forecasting errors that were generated, three times higher, if the forecasting algorithm was not set up for atypical consumption. Among the forecasting algorithms deployed, the best results were generated by ANN, followed by ARIMA and LR. We concluded that the forecasting methods deployed retained their hierarchy and accuracy in forecasting error during atypical consumer behavior, similar to forecasting in normal conditions, if a trigger/alarm mechanism was in place and there was sufficient time to adapt/deploy the forecasting algorithm. All results are meant to be used as best practices during power load uncertainty and atypical consumption behavior.

scholarly journals ANN-Based Day-Ahead Short Term Load Forecasting

2021 ◽  
Author(s):  
Heng Zhao
Keyword(s):  
Power Systems ◽  
Power System ◽  
Meteorological Data ◽  
Load Forecasting ◽  
Automatic Generation ◽  
Training Algorithms ◽  
Security Assessment ◽  
Short Term ◽  
Short Term Load Forecasting ◽  
And Performance

Load forecasting (LF) is of great significance for effective operation, utilization, safety and reliability of the modern electric power systems. Load forecasting can be categorized into very short term, short-term, medium-term, and long-term forecasts, depending on which time scale is concerned. The short term load forecasting (STLF) plays an increasingly important role in achieving a more efficient, reliable and safe power system. Its outputs are the indispensable inputs of generating scheduling, power system security assessment and power dispatch. In the era of smart grid (SG), STLF is the basic building block to imply Demand Side Management (DSM) in areas such as automatic generation control, load estimation, energy purchasing, and contract evaluation, etc. The accuracy of STLF is of essential importance for both economic and reliability. In the last few decades, various methods have been devised and applied to perform STLF. Due to its superior capability of handling the nonlinearity, Artificial Intelligence (AI) based techniques are gaining more popularity in a variety of applications. The objective of this study is to review, categorize, evaluate, and analyze the principle, application, and performance of STLF techniques. It builds up several feed forward Artificial Neural Networks (ANN) models with different configurations, and studies the mechanism of ANN for effective STLF. With 12 years of hourly load and meteorological data sets of a section of the City of Toronto, the configurations are built up with different hidden layers, activating function, training algorithms and both un-normalized and normalized data to predict the day ahead STLF with satisfactory result achieved.

scholarly journals Computational Intelligence on Short-Term Load Forecasting: A Methodological Overview

Energies ◽  
2019 ◽  
Vol 12 (3) ◽  
pp. 393 ◽  
Author(s):  
Seyedeh Fallah ◽  
Mehdi Ganjkhani ◽  
Shahaboddin Shamshirband ◽  
Kwok-wing Chau
Keyword(s):  
Computational Intelligence ◽  
Electricity Market ◽  
Demand Forecasting ◽  
Load Forecasting ◽  
Short Term ◽  
Hybrid Strategy ◽  
Energy Field ◽  
Short Term Load Forecasting ◽  
Scientific Technical ◽  
Potential Factors

Electricity demand forecasting has been a real challenge for power system scheduling in different levels of energy sectors. Various computational intelligence techniques and methodologies have been employed in the electricity market for short-term load forecasting, although scant evidence is available about the feasibility of these methods considering the type of data and other potential factors. This work introduces several scientific, technical rationales behind short-term load forecasting methodologies based on works of previous researchers in the energy field. Fundamental benefits and drawbacks of these methods are discussed to represent the efficiency of each approach in various circumstances. Finally, a hybrid strategy is proposed.

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