Abstract
Accurate and efficient power demand forecasting in urban settings is essential for making decisions related to planning, managing and operations in electricity supply. This task, however, is complicated due to many sources of uncertainty such as due to the variation in weather conditions and household or other needs that influence the inherent stochastic and nonlinear characteristics of electricity demand. Due to the modeling flexibility and computational efficiency afforded by it, a Gaussian process model is employed in this study for energy demand prediction as a function of temperature. A Gaussian process model is a Bayesian non-parametric regression method that models data using a joint Gaussian distribution with mean and covariance functions. The selected mean function is modeled as a polynomial function of temperature, whereas the covariance function is appropriately selected to reflect the actual data patterns. We employ real data sets of daily temperature and electricity demand from Austin, Texas, USA to assess the effectiveness of the proposed method for load forecasting. The accuracy of the model prediction is evaluated using metrics such as mean absolute error (MAE), root mean squared error (RMSE), mean absolute percentage error (MAPE) and 95% confidence interval (95% CI). A numerical study undertaken demonstrates that the proposed method has promise for energy demand prediction.
