Forecasting Hourly Energy Demand in Luzon
The energy demand in Luzon keeps on growing each year. Many societal factors play a part in the energy generation and consumption of people in the largest island in the country and as such, experts as forecasting huge megawatt peaks in the year 2020. NGCP (National Grid Corporation) themselves said that Luzon will peak at around 12,286 megawatts during the dry season of the year. This growth though is still in line with the performance seen in the past months. Thus, forecasting the accurate demand per day is imperative, especially now that the country is slowly being overrun by the pandemic. More and more people have been staying inside their homes, in turn increasing each household's energy consumption in Luzon.
As mentioned earlier, accuracy in energy demand forecasting must be done with utmost importance and care. Allocating too much energy demand for a given time will result in energy wastage and more pollution. On the other hand, allocating little demand will result in more blackouts within the island. Such results are unfavorable at best. Thus, there is a need to have a method or procedure in which forecasting energy demand over the next hour will be as close to the real generated energy demand as possible.