Investigations on neural network models for short term load forecasting

Abstract

Optimal day to day operation of electric power generating plants is very essential for any power utility organization to reduce input costs and the prices of electricity Power plants powered by fossil fuel can benefit power generation by generating the reasonably required load and also it extends to environmental issues like reducing air pollution So to generate reasonably the required power one needs to forecast the future electricity demands since power generation relies heavily on the electricity demand Hence for both the cases an accurate and reliable electric load forecasting system is very much required newlinePower planning is the process of taking careful decisions on distribution and utilization of power Load forecasting is vitally important that goes beyond the electrical distribution arena Load forecast has three different horizons short term forecast which are usually carried out for an hour to a week medium term forecast which are usually carried out for a month to a year and long term forecast which are usually carried out for more than a year Short term forecast are important for economic dispatch unit commitment fuel allocation and maintenance scheduling which is the area of research newline newline