T.C. Hesterberg

Bio: T.C. Hesterberg is an academic researcher. The author has contributed to research in topics: Consensus forecast & Regression analysis. The author has an hindex of 1, co-authored 1 publications receiving 745 citations.

A regression-based approach to short-term system load forecasting

Abstract: The authors describe a novel linear regression-based model for the calculation of short-term system load forecasts. The model's most significant new aspects fall into the following areas: innovative model building, including accurate holiday modeling by using binary variables; temperature modeling by using heating and cooling degree functions; robust parameter estimation and parameter estimation under heteroskedasticity by using weighted least-squares linear regression techniques; the use of 'reverse errors-in-variables' techniques to mitigate the effects on load forecasts of potential errors in the explanatory variables; and distinction between time-independent daily peak load forecasts and the maximum of the hourly load forecasts in order to prevent peak forecasts from being negatively biased. The significant impact of these issues on the accuracy of a model's results was established through testing of an existing load forecasting algorithm. The model has been tested under a variety of conditions and it was shown to produce excellent results. It is also sufficiently general to be used by other electric power utilities. >

Neural networks for short-term load forecasting: a review and evaluation

Abstract: Load forecasting has become one of the major areas of research in electrical engineering, and most traditional forecasting models and artificial intelligence techniques have been tried out in this task. Artificial neural networks (NNs) have lately received much attention, and a great number of papers have reported successful experiments and practical tests with them. Nevertheless, some authors remain skeptical, and believe that the advantages of using NNs in forecasting have not been systematically proved yet. In order to investigate the reasons for such skepticism, this review examines a collection of papers (published between 1991 and 1999) that report the application of NNs to short-term load forecasting. Our aim is to help to clarify the issue, by critically evaluating the ways in which the NNs proposed in these papers were designed and tested.

Energy models for demand forecasting—A review

Abstract: Energy is vital for sustainable development of any nation – be it social, economic or environment. In the past decade energy consumption has increased exponentially globally. Energy management is crucial for the future economic prosperity and environmental security. Energy is linked to industrial production, agricultural output, health, access to water, population, education, quality of life, etc. Energy demand management is required for proper allocation of the available resources. During the last decade several new techniques are being used for energy demand management to accurately predict the future energy needs. In this paper an attempt is made to review the various energy demand forecasting models. Traditional methods such as time series, regression, econometric, ARIMA as well as soft computing techniques such as fuzzy logic, genetic algorithm, and neural networks are being extensively used for demand side management. Support vector regression, ant colony and particle swarm optimization are new techniques being adopted for energy demand forecasting. Bottom up models such as MARKAL and LEAP are also being used at the national and regional level for energy demand management.

Electric load forecasting: Literature survey and classification of methods

Abstract: A review and categorization of electric load forecasting techniques is presented. A wide range of methodologies and models for forecasting are given in the literature. These techniques are classified here into nine categories: (1) multiple regression, (2) exponential smoothing, (3) iterative reweighted least-squares, (4) adaptive load forecasting, (5) stochastic time series, (6) ARMAX models based on genetic algorithms, (7) fuzzy logic, (8) neural networks and (9) expert systems. The methodology for each category is briefly described, the advantages and disadvantages discussed, and the pertinent literature reviewed. Conclusions and comments are made on future research directions.

Short-term hourly load forecasting using time-series modeling with peak load estimation capability

Abstract: This paper presents a new time series modeling for short term load forecasting, which can model the valuable experiences of the expert operators. This approach can accurately forecast the hourly loads of weekdays, as well as, of weekends and public holidays. It is shown that the proposed method can provide more accurate results than the conventional techniques, such as artificial neural networks or Box-Jenkins models. In addition to hourly loads, daily peak load is an important problem for dispatching centers of a power network. Most of the common load forecasting approaches do not consider this problem. It is shown that the proposed method can exactly forecast the daily peak load of a power system. Obtained results from extensive testing on the Iran's power system network confirm the validity of the developed approach.