How is short-term load forecasting conducted?

Short-term load forecasting is conducted using various methods and techniques to predict electricity consumption accurately within a short time frame, typically ranging from a few hours to a few days. These forecasts are crucial for utility companies to effectively plan and manage their power generation and distribution systems. One commonly used method is the time series analysis, where historical load data is analyzed to identify patterns and trends. Other techniques include regression analysis, which considers factors like weather conditions, day of the week, and holidays. Additionally, artificial intelligence and machine learning methods are gaining popularity in load forecasting, utilizing complex algorithms to learn from past data and generate accurate predictions. The combination of these methods and technologies helps utility companies make informed decisions and maintain a reliable power supply.

This mind map was published on 17 October 2023 and has been viewed 86 times.