The Electric Load Forecasting - Fundamentals and Best Practices training course introduces electric load forecasting from both statistical and practical aspects using language and examples from the power industry. Through conceptual and hands-on exercises, you will experience load forecasting for a variety of horizons from a few hours ahead to 30 years ahead. The overall aims are to prepare and sharpen the statistical and analytical skills in dealing with real-world load forecasting problems and improve your ability to design, develop, document, and report sound and defensible load forecasts.
By attending Electric Load Forecasting - Fundamentals and Best Practices workshop, delegates will learn to:
- Classify load forecasts
- Use basic graphic methods to discover the salient features of load profiles
- Build a benchmark model for a wide range of utilities
- Capture special effects for a local utility
- Forecast loads for both small and large utilities
- Improve very short-term forecasting accuracy
- Perform weather normalization
- Use macroeconomic indicators for long-term load forecasts
- Detect outliers
- Continue improving forecasting practice
- Avoid making frequently made mistakes
- Basic knowledge of the utility industry
- BSasic understanding of forecasting
This Electric Load Forecasting - Fundamentals and Best Practices class is intended for Load/price forecasters, energy traders, quantitative/business analysts in the utility industry, power system planners, power system operators, load research analysts, and rate design analysts.