IJSRP, Volume 6, Issue 6, June 2016 Edition [ISSN 2250-3153]
A.E. Okoye and T.C. Madueme
Forecasting of electrical load is vital in electrical sector; it helps in the process of planning periodical operations and facility expansion. In the deregulated economy, it has many applications which include energy purchasing, and generation, load switching, contract evaluation and infrastructure development. Therefore finding the most appropriate forecasting method for a specific electricity network is not an easy task. Although many forecasting methods were developed none can be generalized for all load patterns. This paper presents a framework of various approaches to optimize the forecasting of electrical loads.