Predicting the demand for electricity both in the short and long term is an important task that PJM undertakes routinely.
PJM has published a new fact sheet (PDF) that helps explain how load forecasting is an integral part of maintaining the reliability and efficiency of the power grid. Forecasting helps PJM make decisions about how to plan and operate the electric system in a reliable manner and how to effectively administer its markets.
The fact sheet explains how some elements of load forecasting are predictable, such as the electricity usage patterns of large data centers. At the same time, other less predictable factors require forecasters to adjust their models to account for changes in human behavior, as observed during the coronavirus pandemic.
It also goes into detail about the differences between, and purposes of, long-term and short-term load forecasting and key factors that determine load forecasts.
Read the new fact sheet in the Library section of the PJM website where you can find regularly updated information about a number of PJM-related topics. Also, check out the PJM Learning Center to learn more about PJM and electricity industry concepts.
Original source: PJM