Forecasting Methods in Electric Power Sector

Sujit Kumar Panda, Alok Kumar Jagadev and Sachi Nandan Mohanty
Additional contact information
Sujit Kumar Panda: KIIT University, Bhubaneswar, India
Alok Kumar Jagadev: KIIT University, Bhubaneswar, India
Sachi Nandan Mohanty: KIIT University, Bhubaneswar, India

International Journal of Energy Optimization and Engineering (IJEOE), 2018, vol. 7, issue 1, 1-21

Abstract: Electric power plays a vibrant role in economic growth and development of a region. There is a strong co-relation between the human development index and per capita electricity consumption. Providing adequate energy of desired quality in various forms in a sustainable manner and at a competitive price is one of the biggest challenges. To meet the fast-growing electric power demand, on a sustained basis, meticulous power system planning is required. This planning needs electrical load forecasting as it provides the primary inputs and enables financial analysis. Accurate electric load forecasts are helpful in formulating load management strategies in view of different emerging economic scenarios, which can be dovetailed with the development plan of the region. The objective of this article is to understand various long term electrical load forecasting techniques, to assess its applicability; and usefulness for long term electrical load forecasting for an isolated remote region, under different growth scenarios considering demand side management, price and income effect.

Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://services.igi-global.com/resolvedoi/resolve. ... 018/IJEOE.2018010101 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:igg:jeoe00:v:7:y:2018:i:1:p:1-21

Access Statistics for this article

International Journal of Energy Optimization and Engineering (IJEOE) is currently edited by Jose Marmolejo-Saucedo

More articles in International Journal of Energy Optimization and Engineering (IJEOE) from IGI Global
Bibliographic data for series maintained by Journal Editor ().