Forecasting of power demand plays an essential role in the power sector, as it provides the basis for making decisions in system planning and operations. However, forecasting is influenced by various meteorological and socio-economic factors, which can lead to a mismatch between Actual vs Projected demand. Underestimating demand results in supply shortages and forced power outages, with serious consequences for productivity and economic growth. Overestimating demand can lead to overinvestment in generation capacity, possible financial distress, and, ultimately, higher electricity prices. Presently, DISCOMs use traditional standard methods of demand forecasting by projecting day to day demand based on the past data manually which consumes a lot of time and inputs. Various factors like weather, usage patterns etc. impact the load profile and the relationship is non-linear and complex. Leveraging AI/ ML by using various data points like weather forecasts, consumer consumption patterns, peak demand etc. as input, can help Discoms enhance their data processing techniques, reduce manual intervention as well as accurately forecast demand on a near real-time basis.
Possible locations for PoC
TANGEDCO, TSNPDCL, PSPCL, MP Poorv Kshetra Vidyut Vitaran Co. Ltd, Jabalpur, UHBVNL