GEFCom2012 Proposal

Proposal: 2012 Global Energy Forecasting Competition (GEFCom2012)

Prepared by

Dr. ML Chan,              Chair, Power System Planning and Implementation Committee

Dr. Anil Pahwa,           Chair, Power Engineering Education Committee

Dr. Tao Hong,              Chair, IEEE Working Group on Energy Forecasting

Executive Summary

Due to large scale deployment of smart meters, increasing penetration of renewable energy recourses and aging workforce, the utility industry is facing challenges in the field of energy forecasting. To help the industry improve forecasting practices, Power Systems Planning and Implementation Committee (PSPI) and Power Engineering Education Committee (PEEC) are co-sponsoring the Global Energy Forecasting Competition 2012 (GEFCom2012), which is being organized by IEEE Working Group on Energy Forecasting, a working group under PSPI Committee. The competition will bring together the state-of-the-art techniques for energy forecasting, serve as the bridge to connect academic research and industry practice, promote analytics in power engineering education, and prepare the industry to overcome forecasting challenges in the smart grid world.

The competition includes two tracks: load forecasting and wind forecasting. The winning entries will be determined by the award committee, which is formed by internationally recognized researchers and practitioners in the field, based on forecasting accuracy, clarity of documentation, rigorous of the approach, interpretability of the models and practicality to the industry. To recognize the winners of this competition, we are currently seeking financial sponsorship of $15,000 from IEEE Power & Energy Society. The funding will be used to cover awards and possible operations expenses. We are planning to offer awards to up to six winning entries, or up to three from each track. The award will be in the form of plaques and checks. The candidates will be required to attend PESGM2013 and present the proposed methodologies to be eligible to receive the awards.

PSPI note: Since this is a proposal at this point, your input will be greatly appreciated!


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