Electrical Load Forecasting using Machine Learning

Short-term predictive analysis on electrical load is of utmost importance to the utility company. Load forecasting plays a key role in effective energy planning as well as managing finances. Although machine learning models are already tested for predictive analysis, this paper has employed a newly developed forecasting model known as ‘Prophet’ developed by the IT major Facebook Inc. Owing to lack of research using this model, this paper predicts electrical load consumption based on several factors viz. Time, Temperature, Humidity, and Weather forecast. This model gives an approximate assumption and thus used for predictive modeling.