Load Forecasting Benchmarking and Best Practices

Abstract

The Load Forecasting Benchmarking and Best Practices project identifies today's best practices in short- and longer-term forecasting to provide actionable methods for improving load forecasting accuracy and processes, and reducing costs. We contacted 29 North American electric or combination utilities to gain a thorough understanding of their load forecasting activities. Interviews covered applications of load forecasting, types of data collected, types of software used, methods of analyzing data, accuracy of forecasts, and resources required for load forecasting.