Journal
EUROPEAN JOURNAL OF OPERATIONAL RESEARCH
Volume 199, Issue 3, Pages 902-907Publisher
ELSEVIER
DOI: 10.1016/j.ejor.2009.01.062
Keywords
Electric load forecasting; Energy markets; Decision making; Survey
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For decision makers in the electricity sector, the decision process is complex with several different levels that have to be taken into consideration. These comprise for instance the planning of facilities and an optimal day-to-day operation of the power plant. These decisions address widely different time-horizons and aspects of the system. For accomplishing these tasks load forecasts are very important. Therefore, finding an appropriate approach and model is at core of the decision process. Due to the deregulation of energy markets, load forecasting has gained even more importance. In this article, we give an overview over the various models and methods used to predict future load demands. (C) 2009 Elsevier B.V. All rights reserved.
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