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Additive Covariance Matrix Models: Modelling Regional Electricity Net-Demand in Great Britain
April 18, 2024, 4:43 a.m. | V. Gioia, M. Fasiolo, J. Browell, R. Bellio
stat.ML updates on arXiv.org arxiv.org
Abstract: Forecasts of regional electricity net-demand, consumption minus embedded generation, are an essential input for reliable and economic power system operation, and energy trading. While such forecasts are typically performed region by region, operations such as managing power flows require spatially coherent joint forecasts, which account for cross-regional dependencies. Here, we forecast the joint distribution of net-demand across the 14 regions constituting Great Britain's electricity network. Joint modelling is complicated by the fact that the net-demand …
abstract arxiv britain consumption covariance demand economic electricity embedded energy great britain matrix modelling operations power regional stat.ap stat.co stat.me stat.ml trading type
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