Title :
Economic impact analysis of load forecasting
Author :
Ranaweera, Damitha K. ; Karady, George G. ; Farmer, Richard C.
Author_Institution :
Dept. of Electr. Eng., Arizona State Univ., Tempe, AZ, USA
fDate :
8/1/1997 12:00:00 AM
Abstract :
This paper examines the economic impact of inaccurate load forecasts. Monte Carlo simulations are used to study the effect of different load forecasting accuracy. Investigations into the effect of improving the daily peak load forecasts, effect of different seasons of the year and effect of utilization factors are also presented
Keywords :
Monte Carlo methods; economics; load forecasting; power system analysis computing; Monte Carlo simulations; daily peak load forecasts; economic impact analysis; load forecasting accuracy; power system load forecasting; seasonal effects; utilization factors; Costs; Economic forecasting; Fuel economy; Load forecasting; Power generation economics; Power system analysis computing; Power system economics; Power system planning; Power system security; Power systems;
Journal_Title :
Power Systems, IEEE Transactions on
