What Is Load Forecasting?
Power companies rely on accurate electricity load forecasting to minimize financial risk and optimize operational efficiency and reliability.
Critical load forecasting tasks include:
- Automating data access from regional wholesale electricity markets
- Customizing models using nonlinear regression, nonparametric, and neural network techniques
- Calibrating models with historical predictors such as weather, seasonality, load, fuel price, and power price
- Deploying and integrating load forecasting algorithms into enterprise systems
For details on performing these tasks in a single modeling environment, see MATLAB®.
Examples and How To
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Electricity Load and Price Forecasting Webinar and Case Study (MATLAB Central Files)
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What Is MATLAB Compiler? (2:23) (Video)
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Gas Natural Fenosa Predicts Energy Supply and Demand (User Story)
Software Reference
- Database Toolbox™ (Product)
- MATLAB Compiler™ (Product)
- Deep Learning Toolbox™ (Product)
- Statistics and Machine Learning Toolbox™ (Product)
See also: energy production, algorithm development, desktop and web deployment, machine learning