Economic impact assessment of load forecast errors considering the cost of interruptions

Abstract

Load forecast (LF) is the prediction of the system load over a defined time interval that ranges from one hour to one week for power system operation purposes. Due to the random nature of the load and its dependency on numerous factors forecasting is never 100% accurate. Inaccuracies in the LF lead to inefficient daily system operation. On the one hand, if… (More)

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