Forecasting and Assessing Risk of Individual Electricity Peaks

The overarching aim of this open access book is to present self-contained theory and algorithms for investigation and prediction of electric demand peaks. A cross-section of popular demand forecasting algorithms from statistics, machine learning and mathematics is presented, followed by extreme valu...

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Bibliographic Details
Main Authors: Jacob, Maria, Neves, Cláudia (Author), Vukadinović Greetham, Danica (Author)
Format: eBook
Language:English
Published: Cham Springer International Publishing 2020, 2020
Edition:1st ed. 2020
Series:SpringerBriefs in Mathematics of Planet Earth, Weather, Climate, Oceans
Subjects:
Online Access:
Collection: Springer eBooks 2005- - Collection details see MPG.ReNa
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245 0 0 |a Forecasting and Assessing Risk of Individual Electricity Peaks  |h Elektronische Ressource  |c by Maria Jacob, Cláudia Neves, Danica Vukadinović Greetham 
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300 |a XII, 97 p. 40 illus., 36 illus. in color  |b online resource 
505 0 |a Preface -- Introduction -- Short Term Load Forecasting -- Extreme Value Theory -- Extreme Value Statistics -- Case Study -- References -- Index 
653 |a Statistical Theory and Methods 
653 |a Mechanical Power Engineering 
653 |a Mathematics of Planet Earth 
653 |a Geography / Mathematics 
653 |a Electric power production 
653 |a Statistics  
653 |a Algorithms 
653 |a Electrical Power Engineering 
653 |a Energy policy 
653 |a Energy Policy, Economics and Management 
653 |a Energy and state 
700 1 |a Neves, Cláudia  |e [author] 
700 1 |a Vukadinović Greetham, Danica  |e [author] 
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520 |a The overarching aim of this open access book is to present self-contained theory and algorithms for investigation and prediction of electric demand peaks. A cross-section of popular demand forecasting algorithms from statistics, machine learning and mathematics is presented, followed by extreme value theory techniques with examples. In order to achieve carbon targets, good forecasts of peaks are essential. For instance, shifting demand or charging battery depends on correct demand predictions in time. Majority of forecasting algorithms historically were focused on average load prediction. In order to model the peaks, methods from extreme value theory are applied. This allows us to study extremes without making any assumption on the central parts of demand distribution and to predict beyond the range of available data. While applied on individual loads, the techniques described in this book can be extended naturally to substations, or to commercial settings.Extreme value theory techniques presented can be also used across other disciplines, for example for predicting heavy rainfalls, wind speed, solar radiation and extreme weather events. The book is intended for students, academics, engineers and professionals that are interested in short term load prediction, energy data analytics, battery control, demand side response and data science in general.