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Electric Load Forecasting: Fundamentals and Best Practices

  • Tuition USD $1,650 GSA  $1,496.22
  • Reviews star_rate star_rate star_rate star_rate star_half 486 Ratings
  • Course Code BELF
  • Duration 2 days
  • Available Formats Classroom

This course introduces electric load forecasting from both statistical and practical aspects using language and examples from the power industry. Through conceptual and hands-on exercises, participants experience load forecasting for a variety of horizons from a few hours ahead to 30 years ahead. The overall aims are to prepare and sharpen the statistical and analytical skills of participants in dealing with real-world load forecasting problems and improve their ability to design, develop, document, and report sound and defensible load forecasts.

According to statistics gathered on the first five offerings, this course was highly rated by students who ranged from new graduates with no industry or SAS experience to forecasting experts with over 30 years of industry experience and over 20 years of SAS programming background. The students represented all sectors of the industry: G&T, ISO, distribution companies, REPs, IOU, co-op, municipal, regulatory commission, and consulting firm. Titles of the participants ranged from analyst, engineer, manager, to director and vice president.

For advanced topics, pair this course with Electric Load Forecasting: Advanced Topics and Case Studies The two courses are offered on contiguous days.

Skills Gained

  • classify load forecasts
  • use basic graphic methods to discover the salient features of load profiles
  • build a benchmark model for a wide range of utilities
  • capture special effects for a local utility
  • forecast loads for both small and large utilities
  • improve very short-term forecasting accuracy
  • perform weather normalization
  • use macroeconomic indicators for long-term load forecasts
  • detect outliers
  • continue improving forecasting practice
  • avoid making frequently made mistakes.

Who Can Benefit

  • Load/price forecasters, energy traders, quantitative/business analysts in the utility industry, power system planners, power system operators, load research analysts, and rate design analysts


  • Before attending this course, you should
  • have a basic knowledge of the utility industry
  • have a basic understanding of forecasting.

Course Details

Introduction to Electric Load Forecasting

  • overview of the electric power industry
  • business needs of load forecasts
  • driving factors of electricity consumption
  • classification of load forecasts
  • software applications

Salient Features of Electric Load Series

  • a general approach to electric load forecasting
  • overview of the data pool
  • trend and seasonality
  • more salient features

Multiple Linear Regression

  • naive models
  • trend
  • class variables
  • polynomial regression
  • interaction regression
  • rolling regression

A Naive Benchmark for Short-term Load Forecasting

  • motivation
  • criterion
  • a naive MLR benchmark
  • applications
  • two more salient features

Customizing the Benchmarking Model

  • recency effect
  • weekend effect
  • holiday effect
  • case studies
  • two more salient features

Very Short-Term Load Forecasting

  • hour ahead load forecasting
  • weighted least squares regression
  • dynamic regression
  • two-stage method
  • extensions

Medium/Long-Term Load Forecasting

  • macroeconomic indicator
  • weather normalization
  • forecasting with weather variation
  • forecasting with cross scenarios

Variables, Methods, Techniques, and Further Readings

  • load, weather, calendar, macroeconomic indicator, etc.
  • similar day and hierarchy
  • regression
  • exponential smoothing
  • support vector machine
  • artificial neural networks
  • fuzzy systems and fuzzy regression
  • relevant and readable books
  • load forecasting papers
  • training courses

Frequently Made Mistakes

  • counterexamples
  • expectation
  • data
  • models
  • decisions

Software Applications

How do I enroll?

A comprehensive listing of ExitCertified courses can be found here. You can register directly for the required course/location when you select "register". If you have any questions or prefer to speak with an ExitCertified education consultant directly, please submit your query here. A representative will contact you shortly.

How do I pay for a class?

You can pay at the time of registration using credit card (Mastercard/Visa/American Express) cheque or PO.

What if I have training credits?

ExitCertified honors all savings programs from the partners we work with. ExitCertified also offers training credits across multiple partners through our FLEX Account.

When does class start/end?

Classes begin promptly at 9:00 am, and typically end at 5:00 pm.


Lunch is normally an hour long and begins at noon. Coffee, tea, hot chocolate and juice are available all day in the kitchen. Fruit, muffins and bagels are served each morning. There are numerous restaurants near each of our centers, and some popular ones are indicated on the Area Map in the Student Welcome Handbooks - these can be picked up in the lobby or requested from one of our ExitCertified staff.

How can someone reach me during class?

If someone should need to contact you while you are in class, please have them call the center telephone number and leave a message with the receptionist.

What languages are used to deliver training?

Most courses are conducted in English, unless otherwise specified. Some courses will have the word "FRENCH" marked in red beside the scheduled date(s) indicating the language of instruction.

Joel Rosenblum is an excellent instructor. Would gladly take more courses he taught. Extremely knowledgeable with the content and real world experience with the tech. Gotcha issues provided by him to look for in tech were very useful. Very friendly and available during and after class time.

Tom Peters was very helpful initially and once voucher was confirmed valid. Tom P required Kyle Banas to approve my voucher that was earned for selling certain quantity of M365 licenses. Request confirmation voucher was valid less than 3 months from notification. Tom P CC'd Kyle B on email to confirm. Kyle to several weeks and MANY email requests without ever responding to request. Tom P eventually approved the voucher.

Content was excellent. Labs and lab environment was excellent.

Tommy was a great instructor. We relied on this class to develop our understanding, and we were very happy with the result.

Very well organized training material. The instruction was knowledgeable and ready to help or answer questions.

An excellent course for beginners looking to take their Cloud practitioner exam and getting the fundamental knowledge about AWS

Great personnel and facility. I just should have been told i was the only person physically in thr class, and that there was an option to attend the class remotely.

0 options available

There are currently no scheduled dates for this course. If you are interested in this course, request a course date with the links above. We can also contact you when the course is scheduled in your area.

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