Application of Principal Component Regression Analysis in power load forecasting for medium and long term

This paper deals with the power load forecasting for medium and long term using based on Principal Component Regression Analysis. The paper first reviews the research achievement of the load forecasting and its relationship with economic development, then introduces the basic theory of the principal component analysis and principal component regression analysis model. Finally, taking Beijing as an example, the paper extracts the principal components from the relevant economic factors related power consumption in Beijing, then establishes a multi-parameter regression prediction model (Principal component regression model) on the principal components. The results show that the error is small between prediction load and actual load, proving that the model is a feasible and effective method of load forecasting.