Power Demand Forecasting for Saudi Arabia


Energy

Project Description

The electric demand of Saudi Arabia has increased significantly in the last decade. This trend can be explained as a response to population growth, economic development, rising number of consumer goods, and other factors. To meet this rapid change in demand, billions of dollars is spent to execute expansion projects and ensure smooth operation. One of the challenges encountered in short- term load forecasting is that the power consumption must be predicted accurately and continuously. The short-term power forecast plays a major role in the day-to- day operation of power systems, where it affects the unit commitment and economic dispatch. Overestimating the load could incur millions of dollars per year, while underestimating the load demand may compromise the grid security.

This project aims to develop a robust and accurate electrical load forecasting models, that can provide both short-term and medium- term load predictions using state-of- the-art techniques. These techniques include various modeling and analysis approaches such as: advanced mathematical modeling, optimization, machine learning, and big data analytics. Developing a customizable forecasting model, wrapped in a usable graphical user interface, to help the Saudi Electricity Company in attaining a very accurate load forecast. In fact, accurate load forecasting allows decision makers to make informed decisions regarding system operations, fuel allocation, as well as market operations. Another important objective is the localization of load forecasting technology in the Kingdom and thus enhancing research and development locally in this important domain.

Team Members