Enhanced N-BEATS for Mid-Term Electricity Demand Forecasting

Accurate MTLF supports informed decision-making across multiple aspects of power system management, including power plant scheduling, infrastructure expansion, market operations, and maintaining grid reliability and security. By anticipating future demand, utilities can optimize maintenance schedules, secure fuel supplies, and plan necessary capacity additions. Additionally, accurate forecasts across various time horizons are crucial for ensuring grid stability by maintaining the balance between supply and demand. Furthermore, precise forecasting enables strategic decision-making in energy markets, guiding the timing of electricity purchases and sales. In summary, load forecasting serves as a cornerstone for efficient, reliable, and resilient power system operations.