Power System planning starts with Electric load (demand) forecasting. Accurate electricity load forecasting is one of the most important challenges in managing supply and demand of the electricity, since the electricity demand is volatile in nature; it cannot be stored and has to be consumed instantly. The aim of this study deals with electricity consumption in India, to forecast future project...

S tarting in June 2000, California’s wholesale electricity prices increased to unprecedented levels. The June 2000 average of $143 per megawatt-hour (MWh) was more than twice as high as in any previous month since the market opened in April 1998. These high prices produced enormous proŽ ts for generating companies and Žnancial crises for the regulated utilities that were required to buy power i...

We propose a new approach to forecasting the demand for a commodity in which the commodity supplier asks each consumer to forecast its own demand for the commodity and in return gives a monetary reward that is proportional to the accuracy of the forecast. Such an approach might be applicable when consumer demand for a perishable commodity is uncertain and forecast error leads to waste for produ...

Abstract Despite the practical importance of accurate long-term electricity price forecast with high resolution - and significant need for that only small percentage tremendous papers on energy attempted to target this topic. Its reason can be volatility prices hidden – often unpredictable relations its influencing factors. In our research, we performed different experiments predicate hourly Hu...

Electricity is one of the most important sources for economic and social development of a country. The growth in energy consumption is basically linked with the growth in economy. Energy demand increases due to different reasons, including higher Gross Domestic Product (GDP) growth, higher per capita consumption, the population growth and rapid development of industrial & commercial sectors. In...

To solve the problem of solar abandoning, which is accompanied by the rapid development of photovoltaic (PV) power generation, a demonstration of a photovoltaic-battery energy storage system (PV-BESS) power plant has been constructed in Qinghai province in China. However, it is difficult for the PV-BESS power plant to survive and develop with the current electricity price mechanism and subsidy ...