Implementation and performance analysis of very short term load forecaster based on the electronic dispatch project in ISO New England

With deregulation in the electric power industry, an accurate very short-term load forecasting (VSTLF) function is increasingly important and becomes an integral component of the real-time (spot) market. VSTLF, dealing with the forecast horizon of one to several minutes ahead, is a relatively new division of the load forecasting which is of special importance in resource dispatch function and correction of area control error (ACE). This paper reports upon the implementation and performance analysis of very short term load forecast (VSTLF) in the electronic dispatch project in ISO New England.