Mid-term load forecasting of power systems by a new prediction method

Mid-term load forecasting (MTLF) becomes an essential tool for today power systems, mainly in those countries whose power systems operate in a deregulated environment. Among different kinds of MTLF, this paper focuses on the prediction of daily peak load for one month ahead. This kind of load forecast has many applications like maintenance scheduling, mid-term hydro thermal coordination, adequacy assessment, management of limited energy units, negotiation of forward contracts, and development of cost efficient fuel purchasing strategies. However, daily peak load is a nonlinear, volatile, and nonstationary signal. Besides, lack of sufficient data usually further complicates this problem. The paper proposes a new methodology to solve it, composed of an efficient data model, preforecast mechanism and combination of neural network and evolutionary algorithm as the hybrid forecast technique. The proposed methodology is examined on the EUropean Network on Intelligent TEchnologies (EUNITE) test data and Iran’s power system. We will also compare our strategy with the other MTLF methods revealing its capability to solve this load forecast problem.