Study of Different Techniques for Load Forecasting-A Review

This paper focuses on various approaches to load forecasting, which is essential for developing power supply method to improve the reliability of the power line and provide optimal load scheduling for many developing countries where the demand can be increased day by day. Load forecast is extremely important in electric energy generation, transmission, distribution and markets. Electricity suppliers use forecasting models for prediction of load demand of the consumers to increase or decrease the power generated and to minimize the operating cost of producing electricity. This paper shows study of different methods for load forecasting such as wavelet method, ANN method and fuzzy logic method.