Long range peak demand forecasting under conditions of high growth

Abstract

An extended logistic model with a varying asymptotic upper bound for long-range peak demand forecasting is described. The model has been applied to a typical fast growing system, the Saudi Consolidated Electric Company. The forecasts are compared with actual demands and with those obtained from classical forecasting methods. The model gave relatively accurate peak demand forecasts compared with other classical methods. The model with a single load observation is capable of producing several peak demand forecasts corresponding to different levels of maximum temperature and various levels of social activity. The forecasts produced by the model were also stable irrespective of the length of the ex-post simulation period.>