Looking
ahead to the competitive wholesale system
of electric power in 2003 and the competitive
retail system in 2009, we believe that the
accurate forecasting of power demand is critical
both for effective market operation and stable
power system operation. Besides, since the
price of electricity is determined through
the process of mutual biddings in a competitive
system, it becomes possible for consumers
and suppliers to buy and sell electricity
more effectively. The Electricity Demand Forecasting
Department of Wooam will help the clients
by developing a system that provides the accurate
forecasts of electricity demand by means of
world-wide recognized forecasting models through
a convenient user interface.
1. Peakloads Forecasting System
This is the system to forecast the estimated
yearly, monthly, weekly, daily and hourly
maximum load per area. It evaluates non-linear
temperature effect by use of the temperature
response function, and provides precise forecast
values through cointegration with the time
varying coefficients and an error correction
model.
2. Sales Forecasting System
This is the system
to forecast the monthly and yearly sales volume.
It evaluates non-linear temperature effect
by use of the temperature response function,
and provides precise forecast values through
cointegration with the time varying coefficients
and an error correction model. Through the
relatively longer-term prediction, the system
provides the forecast values that can help
set up a plan for the stable operation of
the electric power system.
3. Electricity Forecasting Study Group
At the Electricity
Forecasting Study Group(www.EFSG.or.kr), our
members play an important part.
EFSG strives to provide its clients with more
reasonable and accurate electricity forecasting
methods and other useful related information.
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