Development of distributional load forecasting algorithm

Abstract

This paper presents a short-term regional load forecasting algorithm for distributional company that needs to make its bidding policy. The forecasting model is built by a bottom-up approach based on its historical load data, while the regional forecasting is performed in a top-down manner using the total system forecasting results of the Korean Power Exchange (KPX). The total system is composed of several distribution regions, and each region includes its branches. A forecasting software, so called forecasting for regional distribution (FORD), is developed as well, based on the proposed algorithm.