Electrical Load Forecasting
Load forecasting is an essential activity for a company like Hydro-Québec. It is necessary for objectives as varied as the management of production or the management and maintenance of the electricity network. Any significant forecasting error can result in reliability issues, loss of opportunity, or additional costs to the business. On the other hand, a good prediction would allow Hydro-Québec to generate additional sales in neighboring markets. With the deployment of its Advanced Measurement Infrastructure (AMI), Hydro-Québec now has a significant amount of new consumption data. This data can be used to improve demand forecasting, increasing reliability, decreasing expenses, and potentially generating new revenue.