Load Forecasting

MathWorks Consulting Services helps utilities, independent system operators (ISOs), and energy traders develop customized load forecasting solutions essential to power supply planning, predictive maintenance, and financial decision making. The methodologies underlying these solutions are also used in natural gas and water utility operations, fuel supply chains, transportation planning, cable and wireless network management, and financial services.

load forecasting power lines

Automate Data Acquisition

MathWorks Consultants help you automate data access from disparate sources including spreadsheets, CSV files, ODBC and JDBC databases, or data feed services such as ISO-NE, CAISO, MISO, or ENTSO-E. As correct and clean data is key to accurate predictive models, we show you how to establish data preprocessing integrity checks, data conversions, and missing data handling.

Develop Predictive Models

We teach you best practices for building your customized predictive models using nonlinear regression, nonparametric, and neural networks techniques. We coach you on identifying most relevant independent variables and calibrating your models with historical predictors such as weather, seasonality, day of week, time of day, and power price.  

Scrutinize Models

We show you how your models can be improved and quickly updated to incorporate additional predictors. To allow you to scrutinize your models and gain confidence in their results, MathWorks Consultants demonstrate methods for easily viewing inputs, outputs, and intermediate variables, and stepping through calculations to achieve full understanding of your model’s behavior. 

Deploy Algorithms to Enterprise Systems and Web

We work with you to integrate and deploy your load forecasting algorithms across your enterprise systems. We help you automatically generate reports to share results, develop data visualizations, and enable use of your models by a wide audience. MathWorks Consultants guide you on deployment strategies from a standalone application or spreadsheet add-in to generating .NET or Java® software components that can be integrated into web and enterprise applications.

We quickly ramp up and build capability within your team through knowledge transfer, coaching sessions, and hands-on predictive model development.

MathWorks Consultants help you to:

  • Automate data access from regional wholesale electricity markets and other relevant data sources
  • Build, train, and validate customized predictive models
  • Scrutinize your models to gain insight and confidence in their behavior
  • Deploy and integrate your algorithms into enterprise systems

"To take advantage of network fee reimbursements, we needed to supply an accurate, yearly power consumption estimate. Available black-box power consumption forecasts were not precise enough. Using Statistics and Machine Learning Toolbox, MathWorks Consulting Services helped us build a customized and highly accurate predictive model. Leveraging the Consultant’s expertise, we were able to determine yearly power consumption and receive a 600,000 € reimbursement – a very healthy return on our 7000 € consulting investment!"

Herr Dr. Michael Kohlert Head of Information Management & Automation, Mondi Gronau GmbH