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- W4316116193 abstract "Electricity load forecasting is a necessary capability for power system operators and electricity market participants. Both demand and supply characteristics evolve over time. On the demand side, unexpected events as well as longer-term changes in consumption habits affect demand patterns. On the production side, the increasing penetration of intermittent power generation significantly changes the forecasting needs. We address this challenge in two ways. First, our setting is <italic xmlns:mml=http://www.w3.org/1998/Math/MathML xmlns:xlink=http://www.w3.org/1999/xlink>adaptive</i> ; our models take into account the most recent observations available to automatically respond to changes in the underlying process. Second, we consider <italic xmlns:mml=http://www.w3.org/1998/Math/MathML xmlns:xlink=http://www.w3.org/1999/xlink>probabilistic</i> rather than point forecasting; indeed, uncertainty quantification is required to operate electricity systems efficiently and reliably. Our methodology relies on the Kalman filter, previously used successfully for adaptive point load forecasting. The probabilistic forecasts are obtained by quantile regressions on the residuals of the point forecasting model. We achieve adaptive quantile regressions using the online gradient descent; we avoid the choice of the gradient step size considering multiple learning rates and aggregation of experts. We apply the method to two data sets: the regional net-load in Great Britain and the demand of seven large cities in the United States. Adaptive procedures improve forecast performance substantially in both use cases for both point and probabilistic forecasting." @default.
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- W4316116193 date "2023-01-01" @default.
- W4316116193 modified "2023-10-18" @default.
- W4316116193 title "Adaptive Probabilistic Forecasting of Electricity (Net-)Load" @default.
- W4316116193 doi "https://doi.org/10.1109/tpwrs.2023.3310280" @default.
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