Advances in Electric Power and Energy Systems: Load and Price Forecasting

Advances in Electric Power and Energy Systems is the first book devoted exclusively to a subject of increasing urgency to power systems planning and operations. Written for practicing engineers, researchers, and post-grads concerned with power systems planning and forecasting, this book brings together contributions from many of the world’s foremost names in the field who address a range of critical issues, from forecasting power system load to power system pricing to post-storm service restoration times, river flow forecasting, and more.

In a time of ever-increasing energy demands, mounting concerns over the environmental impacts of power generation, and the emergence of new, smart-grid technologies, electricity price forecasting has assumed a prominent role within both the academic and industrial arenas. Short-run forecasting of electricity prices has become necessary for power generation unit schedule, since it is the basis of every maximization strategy. This book fills a gap in the literature on this increasingly important topic.

Following an introductory chapter offering background information necessary for a full understanding of the forecasting issues covered, this book:

Introduces advanced methods of time series forecasting, as well as neural networks
Provides in-depth coverage of state-of-the-art power system load forecasting and electricity price forecasting
Addresses river flow forecasting based on autonomous neural network models
Deals with price forecasting in a competitive market
Includes estimation of post-storm restoration times for electric power distribution systems
Features contributions from world-renowned experts sharing their insights and expertise in a series of self-contained chapters
Advances in Electric Power and Energy Systems is a valuable resource for practicing engineers, regulators, planners, and consultants working in or concerned with the electric power industry. It is also a must read for senior undergraduates, graduate students, and researchers involved in power system planning and operation.