Sule Balkan & Tim Anderson
Energy Demand Forecasting
Every 2-3 years, a global competition is held to forecast the energy demand in ISO New England’s territory, called the Global Energy Forecasting Competition (GEFCom). The competition is organized by Tao Hong of University of North Carolina and sponsored by the IEEE Power and Energy Society. The department of Engineering and Technology Management at Portland State University held a course in the winter quarter of 2017 centered on this competition and teaching the students about forecasting with a hands on, practical application. Taking this class was a unique experience and an interesting crash course on forecasting, energy grid operations, and utilizing a new tool: the computer program and language called R. Each day, electrical grid system operators adjust power generation resources to meet real time load demands. Because electricity cannot be easily stored, generation sources have to be adjusted constantly to meet current demands. Throughout the US, certain regions have organizations called independent system operators (ISO) to do this. ISO New England is one of these organizations and covers a service territory of Main, Vermont, New Hampshire, Massachusetts, Connecticut, and Rhode Island. ISO NE covers 7.1 million retail electricity customers, which serves a population of 14.7 million with a generation capacity of 30,500 MW . To effectively serve their customers, they create forecasts of energy usage to be prepared for upcoming demand.
Wehner, Nicole, "Reflection and Learning in Energy Demand Forecasting" (2017). Engineering and Technology Management Student Projects. 101.