A Neural Approach to Electricity Demand Forecasting

Electricity demand forecasting is significant in supply-demand management, service provisioning, and quality. This chapter introduces a short-term load forecasting model using Fuzzy Cognitive Map, a popular neural computation technique. The historic data of intraday load levels are mapped to network nodes while a differential Hebbian technique is used to train the network’s adjacency matrix. The inferred knowledge over weekly training window is then used for demand projection with Mean Absolute Percentage Error (MAPE) of 5.87 % for 12 h lead time, and 8.32 % for 24 h lead time. A Principal Component Analysis is also discussed to extend the model for training using big data, and to facilitate long-term load forecasting.