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Energy Forecasting: Past, Present, and Future

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  • Tao Hong

Abstract

When you flick that switch, you expect the lights to go on Ð but the business of keeping them on is not nearly as straightforward. Dr. Tao Hong offers a practical overview of energy forecasting; itÕs an important task, one that electric utilities have been doing daily for over a century, but now with new challenges. Copyright International Institute of Forecasters, 2014

Suggested Citation

  • Tao Hong, 2014. "Energy Forecasting: Past, Present, and Future," Foresight: The International Journal of Applied Forecasting, International Institute of Forecasters, issue 32, pages 43-48, Winter.
  • Handle: RePEc:for:ijafaa:y:2014:i:32:p:43-48
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    Cited by:

    1. Nowotarski, Jakub & Raviv, Eran & Trück, Stefan & Weron, Rafał, 2014. "An empirical comparison of alternative schemes for combining electricity spot price forecasts," Energy Economics, Elsevier, vol. 46(C), pages 395-412.
    2. repec:eee:tefoso:v:124:y:2017:i:c:p:101-113 is not listed on IDEAS
    3. Mawuli Segnon & Chi Keung Lau & Bernd Wilfling & Rangan Gupta, 2017. "Are Multifractal Processes Suited to Forecasting Electricity Price Volatility? Evidence from Australian Intraday Data," Working Papers 201739, University of Pretoria, Department of Economics.
    4. Wang, Pu & Liu, Bidong & Hong, Tao, 2016. "Electric load forecasting with recency effect: A big data approach," International Journal of Forecasting, Elsevier, vol. 32(3), pages 585-597.
    5. Akouemo, Hermine N. & Povinelli, Richard J., 2016. "Probabilistic anomaly detection in natural gas time series data," International Journal of Forecasting, Elsevier, vol. 32(3), pages 948-956.
    6. Zhang, Yao & Wang, Jianxue, 2016. "K-nearest neighbors and a kernel density estimator for GEFCom2014 probabilistic wind power forecasting," International Journal of Forecasting, Elsevier, vol. 32(3), pages 1074-1080.
    7. Maciejowska, Katarzyna & Nowotarski, Jakub, 2016. "A hybrid model for GEFCom2014 probabilistic electricity price forecasting," International Journal of Forecasting, Elsevier, vol. 32(3), pages 1051-1056.
    8. Jakub Nowotarski & Rafal Weron, 2016. "To combine or not to combine? Recent trends in electricity price forecasting," HSC Research Reports HSC/16/01, Hugo Steinhaus Center, Wroclaw University of Technology.
    9. Hong, Tao & Pinson, Pierre & Fan, Shu & Zareipour, Hamidreza & Troccoli, Alberto & Hyndman, Rob J., 2016. "Probabilistic energy forecasting: Global Energy Forecasting Competition 2014 and beyond," International Journal of Forecasting, Elsevier, vol. 32(3), pages 896-913.
    10. Canale, Antonio & Vantini, Simone, 2016. "Constrained functional time series: Applications to the Italian gas market," International Journal of Forecasting, Elsevier, vol. 32(4), pages 1340-1351.
    11. Tao Hong & Katarzyna Maciejowska & Jakub Nowotarski & Rafal Weron, 2014. "Probabilistic load forecasting via Quantile Regression Averaging of independent expert forecasts," HSC Research Reports HSC/14/10, Hugo Steinhaus Center, Wroclaw University of Technology.
    12. Azhar Ahmed Mohammed & Zeyar Aung, 2016. "Ensemble Learning Approach for Probabilistic Forecasting of Solar Power Generation," Energies, MDPI, Open Access Journal, vol. 9(12), pages 1-17, December.
    13. Nowotarski, Jakub & Liu, Bidong & Weron, Rafał & Hong, Tao, 2016. "Improving short term load forecast accuracy via combining sister forecasts," Energy, Elsevier, vol. 98(C), pages 40-49.
    14. Bidong Liu & Jakub Nowotarski & Tao Hong & Rafal Weron, 2015. "Probabilistic load forecasting via Quantile Regression Averaging on sister forecasts," HSC Research Reports HSC/15/01, Hugo Steinhaus Center, Wroclaw University of Technology.
    15. Weron, Rafał, 2014. "Electricity price forecasting: A review of the state-of-the-art with a look into the future," International Journal of Forecasting, Elsevier, vol. 30(4), pages 1030-1081.
    16. Katarzyna Maciejowska & Rafal Weron, 2015. "Short- and mid-term forecasting of baseload electricity prices in the UK: The impact of intra-day price relationships and market fundamentals," HSC Research Reports HSC/15/04, Hugo Steinhaus Center, Wroclaw University of Technology.
    17. repec:eee:intfor:v:34:y:2018:i:1:p:89-104 is not listed on IDEAS
    18. Michiorri, Andrea & Nguyen, Huu-Minh & Alessandrini, Stefano & Bremnes, John Bjørnar & Dierer, Silke & Ferrero, Enrico & Nygaard, Bjørn-Egil & Pinson, Pierre & Thomaidis, Nikolaos & Uski, Sanna, 2015. "Forecasting for dynamic line rating," Renewable and Sustainable Energy Reviews, Elsevier, vol. 52(C), pages 1713-1730.
    19. Hong, Tao & Wang, Pu & White, Laura, 2015. "Weather station selection for electric load forecasting," International Journal of Forecasting, Elsevier, vol. 31(2), pages 286-295.
    20. Maciejowska, Katarzyna & Nowotarski, Jakub & Weron, Rafał, 2016. "Probabilistic forecasting of electricity spot prices using Factor Quantile Regression Averaging," International Journal of Forecasting, Elsevier, vol. 32(3), pages 957-965.
    21. Coelho, Vitor N. & Coelho, Igor M. & Coelho, Bruno N. & Reis, Agnaldo J.R. & Enayatifar, Rasul & Souza, Marcone J.F. & Guimarães, Frederico G., 2016. "A self-adaptive evolutionary fuzzy model for load forecasting problems on smart grid environment," Applied Energy, Elsevier, vol. 169(C), pages 567-584.
    22. repec:eee:appene:v:198:y:2017:i:c:p:21-35 is not listed on IDEAS
    23. repec:eee:rensus:v:81:y:2018:i:p1:p:1484-1512 is not listed on IDEAS
    24. Hong, Tao & Fan, Shu, 2016. "Probabilistic electric load forecasting: A tutorial review," International Journal of Forecasting, Elsevier, vol. 32(3), pages 914-938.

    More about this item

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q47 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy Forecasting

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