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access icon free Forecasting the load of electrical power systems in mid- and long-term horizons: a review

© The Institution of Engineering and Technology
Received 09/03/2016, Accepted 14/08/2016, Revised 13/07/2016, Published 08/12/2016

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.

Inspec keywords: load forecasting

Other keywords: long-term horizons; electric utilities; load forecasting techniques; load impacting factors; transmission companies; uncertainty characteristics; economic condition; load demand; distribution companies; stochastic characteristics; technological advancement; mid-term horizons; electrical power systems; time horizons

Subjects: Power system planning and layout

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