Economic impact analysis of load forecasting

Damitha K. Ranaweera, George G. Karady, Richard G. Farmer

Research output: Contribution to journalArticle

93 Citations (Scopus)

Abstract

This paper examines the economic impact of inaccurate load forecasts. Monte Carlo simulations were 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 presented.

Original languageEnglish (US)
Pages (from-to)1388-1392
Number of pages5
JournalIEEE Transactions on Power Systems
Volume12
Issue number3
DOIs
StatePublished - 1997

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Economics
Monte Carlo simulation

ASJC Scopus subject areas

  • Electrical and Electronic Engineering

Cite this

Ranaweera, D. K., Karady, G. G., & Farmer, R. G. (1997). Economic impact analysis of load forecasting. IEEE Transactions on Power Systems, 12(3), 1388-1392. https://doi.org/10.1109/59.630486

Economic impact analysis of load forecasting. / Ranaweera, Damitha K.; Karady, George G.; Farmer, Richard G.

In: IEEE Transactions on Power Systems, Vol. 12, No. 3, 1997, p. 1388-1392.

Research output: Contribution to journalArticle

Ranaweera, DK, Karady, GG & Farmer, RG 1997, 'Economic impact analysis of load forecasting', IEEE Transactions on Power Systems, vol. 12, no. 3, pp. 1388-1392. https://doi.org/10.1109/59.630486
Ranaweera, Damitha K. ; Karady, George G. ; Farmer, Richard G. / Economic impact analysis of load forecasting. In: IEEE Transactions on Power Systems. 1997 ; Vol. 12, No. 3. pp. 1388-1392.
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