Supply and Demand Planning of Electricity Power: A Comprehensive Solution

Abstract

Electrical energy is one of the fastest growing energy demands in the world. Uncertainty in supplying the demand can threaten the social economic aspects of a country. The biggest driver of electrical demand is weather. Climatic changes not only affect the demand but also renewable energy supply. Wind and Solar are two alternative energy sources with less pollution. We have proposed a platform which helps energy providers, energy traders with services related to electricity supply and demand planning, with following modules. (1) Forecasting electricity consumption patterns (2) Forecasting wind power generation (3) Optimizing Load Shedding. Our platform has been implemented using statistical and machine learning techniques: Multi-Linear Regression for consumption prediction, Random forest regression for wind power forecast, and genetic algorithm to optimize load shedding. Our results show that, using our proposed module, we can minimize the imbalance between the supply and demand of electricity by predicting the consumption patterns of consumers, predicting the wind power generation and by selecting the best feeder to be selected for load shedding under given constraints.