Abstract:
The short-term electricity demand forecasting
has become one of the major research area in power system
engineering. By combining the smart metering to the short term
demand forecasting techniques, new features can be
added to save on demand and electricity bill. This paper
illustrates the methodology used to forecast electricity demand
over short period of time which can be used with smart meters.
Polynomial fitting with interpolation is used to forecast the
demand by taking the apparent power sample points from
smart meters. The outcome of this work will be beneficial to
the residential or industrial electricity consumers to control the
demand side loads. It will help the industrial consumers to save
on maximum demand charge with the introduction of warning
message or residential consumers to reduce their electricity bill
by cutting down non-essential loads in peak hours.
