In current electricity market, demand side buys power indirectly through electric utilities, and it makes the demand side inelastic to market's price volatility and significantly affects the efficiency of the market. To fix the problem, it is esse...
Electric load forecasting has been integrated into the business decision making processes across virtually every segment of the power industry. Power companies use short-term and long-term load forecasts primarily for power systems operations and ...
Weather is a key driving factor of electricity demand. Among all the weather variables included in load forecasting models over the past half a century, temperature is the most commonly used one. Although humidity has also been discussed in the lo...
Traditionally, utilities have been conservative regarding the infrastructure upgrade. This makes electric load forecasts critical for guiding electric utilities’ operation, planning, and maintenance decision-making. For a long while, utilities hav...