News and Load: A Quantitative Exploration of Natural Language Processing Applications for Forecasting Day-ahead Electricity System Demand

The relationship between electricity demand and weather is well established in power systems, along with the importance of behavioral and social aspects such as holidays and significant events. This study explores the link between electricity demand and more nuanced information about social events. This is done using mature Natural Language Processing (NLP) and demand forecasting techniques. The results indicate that day-ahead forecasts are improved by textual features such as word frequencies, public sentiments, topic distributions, and word embeddings. The social …

applications cs.ai cs.cl cs.cy demand electricity events exploration forecasting holidays importance information language language processing natural natural language natural language processing power processing quantitative relationship social study systems weather