Short Term Electric Power Load Forecasting Using Principal Component Analysis and Recurrent Neural Networks
Venkataramana Veeramsetty, D. Rakesh Chandra, Francesco Grimaccia, Marco Mussetta
Abstract
Electrical load forecasting study is required in electric power systems for different applications with respect to the specific time horizon, such as optimal operations, grid stability, Demand Side Management (DSM) and long-term strategic planning. In this context, machine learning and data analytics models represent a valuable tool to cope with the intrinsic complexity and especially design future demand-side advanced services. The main novelty in this paper is that the combination of a Recurrent Neural Network (RNN) and Principal Component Analysis (PCA) techniques is proposed to improve the forecasting capability of the hourly load on an electric power substation. A historical dataset of measured loads related to a 33/11 kV MV substation is considered in India as a case study, in order to properly validate the designed method. Based on the presented numerical results, the proposed approach proved itself to accurately predict loads with a reduced dimensionality of input data, thus minimizing the overall computational effort.